Royal Gazette

RenaissanceRe has reported third-quarter net income available to common shareholders of $1.17 billion, a jump from $194 million in the prior-year quarter.
Operating income was $540.3 million, up from …

The Bermuda Chamber of Commerce is hoping to see a review of the sugar tax in the Throne Speech on Friday, which officials say could be causing more problems than it solves.
Marico Thomas, Chamber pr…

Martin Klein, executive vice-president and chief financial officer of Bermudian-based Athene Holding Ltd, the retirement services company, is to retire.
Athene said it will initiate a search for a new…

HSBC has shelved its MySavings Youth Account programme.
The announcement comes as crosstown rival Butterfield is on the verge of upgrading their longtime youth savers programme.
In a letter sent to cu…

Health officials are exploring an outright ban on trans fatty acids in restaurants and new restrictions on the importing of trans-fat products into the island.
The issue is being looked at after 2023 …

Caribbean businesses will come under increasing pressure to eliminate trans fats, through country-level initiatives.
In 2022, Caricom Ministers of Trade and Health committed to enacting legislation by…

Property, casualty and specialty insurer and reinsurer, Everest Group, had more than half a billion dollars in net income for the third quarter, and total shareholder return of 19.4 per cent annualise…

Axis Capital’s latest financial statements report net income available to common shareholders of $173 million in Q3, down from $204 million in the previous quarter.
Operating income was $230 million i…

Bermudian-based Arch Capital Group Ltd has reported third quarter net income available to Arch common shareholders of $978 million, or $2.56 per share, representing a 19 per cent annualised net income…

Tucker’s Farm Corporation, the Bermudian-based investment holding vehicle, has closed a Series A funding round for its medical aesthetics holding company with a leading growth equity investor that has…

When the Bermuda Economic Development Corporation created the By Bermuda programme in February they expected a rush of interest.
The programme offers small and micro businesses a website to showcase t…

Bermudian-based Everest Reinsurance has promoted Shirine Dajjani to the role of International Reinsurance operating officer.
In this new position, she will oversee alignment of the company’s internati…

Bermudian associates Celine Collis and Matthew MacLeod have joined the corporate practice at law firm Conyers.
Ms Collis joins Conyers from Reed Smith LLP in London, bringing expertise in corporate an…

Before its closure, breakfast was very popular at the Pitts Bay Road restaurant, Bouchêe. The French bistro’s red velvet waffles and eggs Benedict were favourites.
The restaurant closed last year whe…

Chubb’s latest earnings report reveals that in the first nine months, net income and core operating income were a record $6.7 billion and $6.75 billion, up 16.9 per cent and 13.8 per cent, respectivel…

Nominations for the eighth annual Business Awards presented by the Bermuda Economic Development Corporation are set to close on Friday.
The BEDC is accepting nominations in ten categories: Entrepreneu…

The retirement of Enstar Group Limited president Orla Gregory at the end the year, and the expanding role of Enstar in the insurance industry has led to changes to the company’s executive leadership t…

Bermuda’s captive insurance industry has been rocked by the passing of Leslie Robinson, a former insurance regulator and industry executive, who has passed away at 57.
The Bermuda Captive Network sai…

Two veteran executives with strong Bermuda connections have been appointed to the group board of Accredited Insurance Holdings, the global programme manager, as non-executive directors.
The company sa…

Bermudian-based insurers Axa XL and Axis Capital have played key roles in a landmark $1 billion securitisation in Latin America and the Caribbean launched by IDB Invest, the multilateral development b…

The MarketPlace and The Supermart have announced a merger that the parties agreed “unites two of Bermuda’s most trusted grocery retailers, creating an enhanced shopping experience for customers while …

Social activist Tiffany Paynter believes the island’s high cost of living forces many people to make fear-based career choices.
For a long time, she was one of them. “I always lived a practical life, …

Former cricketer Calix Todd is hoping to bowl people over with a self-developed app giving people guided tours of Bermuda.
Originally developed just after Covid-19, his app, called Bermuda Smart Tours…

Bermudian-based Ascot has promoted Michael Grayston to the position of group treasurer and chief investment officer and Sarah Thompson to the post of group chief accounting officer.
In his newly expan…

Aon, the global professional services firm with operations in Bermuda, has appointed Jared Ball as global practice leader of its space division.
The news comes as Aon’s Jeff Poliseno has decided to re…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based Maxseguros EPM Ltd, the captive insurer for Colombia’…

Bermudian-headquartered Artex has launched alternative risk and captive management solutions in the Abu Dhabi Global Market in partnership with Gallagher.
The company said this new development and ran…

With 40 years of experience in insurance brokerage, Paul Scope is confident he knows what to do as chief executive of Acrisure’s new Bermuda office.
He has been chairman of Ardonagh Specialty (Bermuda…

Net income attributable to Aon shareholders decreased 25 per cent to $343 million compared with $456 million in the prior year in the latest third-quarter figures released by the company.
Adjusted ne…

Bermudian-based Arch Capital Group Ltd has been named the fastest-growing firm among the world’s largest property and casualty insurers, according to S&P Global Market Intelligence.
Its gross prem…

Convex Group Ltd, the Bermudian-based international specialty insurer and reinsurer, has selected EXL, the New York-headquartered data analytics and digital operations and solutions company, for a mul…

Apex Group, the Bermudian-based global financial solutions company, has become an official partner of the United States SailGP team.
The team’s other partners include Tommy Hilfiger, T-Mobile and Red …

The topic of inheritance is a tricky one. Some people feel they are owed it, whereas others feel like they earned it. But the key question I’m interested in here is: what are some of the inherent risk…

Dear Dave,
My husband and I began your plan a few months ago.
We love the process of living on a budget, and how it has helped us gain control of our finances.
Our kids are 14 and 13 now. Do you think…

Island-based airline, BermudAir, has launched a new holiday package aimed at golfers.
According to the company the new golf packages “further enhance the already diverse selection of vacation experien…

The deadline for providing comment as part of the consultation process for the island’s Integrated Resource Plan has been extended until October 31.
The original deadline date was September 30.
The IR…

Pharmacist cousins Donna Pearman and Aleathea Rabain started People’s Pharmacy believing that the community was not being well served by existing shops.
Exactly 40 years later, the Victoria Street lo…

Lloyd’s has announced a pioneering disaster resilience vehicle with the United Nations Capital Development Fund to deliver disaster-risk financing to small-island developing states in the Pacific.
The…

The Cayman Islands and Senegal have been invited to the table for discussions of the Financial Action Task Force, the global money-laundering and terrorist-financing watchdog.
The two countries have b…

This weekend’s Bermuda Gombey Festival is to be celebrated with a line of Gombey art themed products by entrepreneur Demeka Tacklyn, also known as Tiny T.
She will unveil the full line during the annu…

The use of artificial intelligence to transform businesses was a key topic of discussion as nearly 100 entrepreneurs, community leaders, and sponsors attended the Re-Ignite 2024 Conference at Hamilton…

Eight finalists are to compete for five spots that could win them up to $25,000 at the 2024 Wave of Opportunity pitch competition presented by Global Atlantic Financial Group, the insurance company, i…

Stevedoring Services Bermuda Ltd has been given special recognition for its outstanding performance as a port operator at the 54th annual meeting, conference and exhibition of the Caribbean Shipping A…

Michael Woodroffe, president and cofounder of Bermuda captive reinsurance broker Kirkway International, has been voted the individual Reinsurance Broker of the Year by readers of Captive International…

A Spanish engineering and consulting firm has determined that onshore solar is the most economically attractive source of electricity generation for Bermuda.
But there was a caveat.
Onshore solar powe…

Butterfield Bank continues to scan the market for possible acquisitions — but only in jurisdictions where the Bermudian-based bank feels comfortable doing business.
Speaking on an earnings call with a…

Teneo, the global CEO advisory firm with operations in Bermuda, has appointed Brian Glasgow, David Collins and David Holukoff to key senior positions, expanding its financial advisory presence into th…

Nabors Industries Ltd, the Bermudian-domiciled energy technology company, has reported a third quarter net loss attributable to Nabors shareholders of $56 million.
That compares with a net loss of $32…

The MarketPlace grocery store chain plans to significantly expand a leadership programme that has already benefited more than 80 Bermudian employees.
Launched in 2021, the Pathways to Leadership Progr…

Butterfield Bank has reported net income for the third quarter of 2024 of $52.7 million, or $1.16 per diluted common share.
That compares with net income of $50.6 million, or $1.09 per diluted common …