Royal Gazette

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 …

Resolution Re, the Bermudian-based life insurer and reinsurer, has appointed Tanika Williams to the post of vice-president, head of Human Resources.
Ms Williams joins from Artex Risk Solutions, where …

Bermuda market veteran Andrew Vaucrosson has joined the Bermuda Stock Exchange as its head of Policy and Risk.
Mr Vaucrosson, who took up the post this month, has vast experience in the corporate sect…

Burrows Lightbourn, the beverage distributor and retailer that has been in business for nearly 35 years, has announced the roll out of a rebrand that will take place over the coming months.
The compan…

A primary asset of a Bermuda investment holding company is selling its majority stake in the largest integrated port and maritime logistics operator in Brazil.
Ocean Wilsons subsidiary, OW Overseas (I…

Bermudian-based Axa XL has unveiled new cyber coverage to help businesses manage risks arising from developing their own generative artificial intelligence models.
Michael Colao, Axa XL’s global chief…

The Lloyd’s Market Association has appointed John Levett to the position of head of Regulatory Affairs.
He will report to Arabella Ramage, legal director of the LMA.
Mr Levett joined the LMA last Octo…

A spate of senior hires by the broking community in Bermuda reflects the development of the island’s insurance and reinsurance market, top executives have said.
A variety of brokers have been ramping …

The Regulatory Authority of Bermuda is within days of closing consultation on consumer protection rules — including whether people should get refunds for unplanned electricity outages.
As part of the …

Trott & Duncan Ltd has appointed Kemilah Swan as an associate in the firm’s Property and Estates Department.
The firm said Ms Swan has a wealth of experience and expertise, particularly in high-va…

Arch Insurance North America, which is part of Bermudian-based Arch Capital Group Ltd, has received PropertyCasualty360’s Insurance Luminaries Award for Technology Innovation.
The company said this re…

A subsidiary of Axa XL has announced an insurance agreement for 88 marine protected areas.

Axa Climate, an Axa Group entity, has renewed the parametric insurance coverage for 88 MPAs in the Philip…

AM Best has affirmed the credit ratings of Bermudian-based International General Insurance Holdings Ltd and its subsidiaries.
The credit ratings agency affirmed the financial strength rating of A (Exc…

Bermudian-based Axis Capital is to expand its use of Mea Platform’s generative artificial intelligence to deliver operational efficiencies while enhancing the speed and service that it provides to its…

The City of Hamilton’s residential real estate market is thriving with Coldwell Banker Bermuda Realty making several multimillion dollar sales in the past year.
That was revealed in a real estate mark…

Four companies with operations in Bermuda have contributed seed funding to back a non-profit organisation launched to empower at-risk communities to build climate resilience through effective insuranc…

Self-advocacy is a key skill entrepreneurs must learn if their business is going to thrive, according to the founder of a management consultancy firm.
Business owners must also demonstrate core leader…

Vantage Risk has been promoted to full membership in the Berne Union, the not-for-profit association that has represented the global export credit and investment insurance industry since 1934.
The com…

A partnership that plays a critical role in the development of a talent pipeline within the island’s insurance-linked securities industry is to continue in 2025.
Since 2017, ILS Bermuda has partnered …

Axa XL Reinsurance has appointed Greg Schiffer as chief executive North America, Reinsurance.
Renaud Guidée, chief executive, Axa XL Reinsurance, said: “Our clients across North America rate highly th…

Dear Dave,
I just finished paying off all my consumer debt in Baby Step 2. It took a long time, but I finally did it. Now, it’s time to grow my $1,000 beginner emergency fund to a full-funded emergenc…

Chrysda Smith and Kaleb Phillips have joined the 12-month pupillage programme in the Bermuda office of Walkers.
They will spend six months with the firm’s corporate, finance, funds & insurance tea…

Moody’s RMS Event Response has updated its combined private market insured losses for Hurricanes Helene and Milton to between $30 billion and $50 billion, down from $35 billion to $55 billion.
The cre…

Artificial intelligence will be the focus of a tech conference hosted jointly by the Information Systems Audit and Control Association and Institute of Internal Audit Bermuda Chapter at the Royal Hami…

Criminals are fraudulently claiming to be operating a local company, Stillman Crypto Brazil, and claiming to be involved in sophisticated trading technology, the Bermuda Monetary Authority has warned….

Moody’s RMS Event Response has updated its combined private market insured losses for Hurricanes Helene and Milton, to between $30 billion and $50 billion, down from $35 billion to $55 billion.
The cr…

Digicel has once again been shortlisted at the World Communications Awards – this time in the social contribution category for the Digicel Jamaica Foundation’s work to assist the blind community.
WCA …

DeNexus, the Boston-based cyber risk management company with operations in Bermuda, has raised $17.5 million in a Series A funding round.
The company said the capital raise positions DeNexus to accele…

Apex Group Ltd, the Bermudian-headquartered global financial services provider, has expanded its presence in the Latin American market with the acquisition of Finix Group, the Chilean-based financial …

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Bermudian-based RVI Guaranty Co Ltd and its subsidiary, Delaware-bas…

Artificial intelligence will be the focus of a tech conference hosted jointly by the Information Systems Audit and Control Association and Institute of Internal Audit Bermuda Chapter at the Royal Hami…

Criminals are fraudulently claiming to be operating a local company, Stillman Crypto Brazil, and claiming to be involved in sophisticated trading technology, the Bermuda Monetary Authority has warned….

“Nasty” is how Colin Rego describes setting up a new grocery store in Bermuda.
“It was not the kindest of journeys,” said Mr Rego, founder of the Sargasso delivery app.
He and Carl Vincent, of the onl…

After a 2024 awareness campaign for the 2025 onset of the new privacy regime, officials are encouraging public feedback to the new, updated Financial Services and Personal Information Protection Act G…

Bermudian-based Everen Specialty Ltd has announced that Jerry Rivers, senior vice-president and chief operating officer, will retire on March 31, 2025.
John Talarico, Everen Specialty’s chairman, said…

Arch Capital Group Ltd held a private memorial event to honour and celebrate the life of former chief executive Dinos Iordanou on Monday in New York.
Highly regarded throughout the industry, Mr Iordan…

Bermuda market veteran Kevin Madigan has been appointed as head of Capital Management at Argo Group.
He will be based in New York.
Mr Madigan joins Argo from FTI Consulting, where he served as a senio…

The Bermuda Monetary Authority confirmed the registration of seven new insurers in September, taking the yearly total to 41.
The island’s financial services regulator has also registered ten intermedi…

Peak tourism season is not over in Bermuda, with cruise ships still arriving, but restaurateur Maz Shabdeen already feels the coming chill.
“We have already seen a drop in tourism,” he said. “It is ge…

Norwegian Cruise Line’s Norwegian
Prima will make its last visit to Dockyard next month.
In a letter to passengers scheduled to visit Bermuda on December 21, NCL wrote: “We recognise the importance…

David Perez, a veteran of the Bermuda market, has been appointed as president, Excess Casualty, to lead the launch and build out of a new offering by Houston-based Tokio Marine HCC.
Mr Perez will repo…

The local chapter of an international organisation that connects women in the shipping sector has celebrated the global group’s 50th anniversary and recommitted to the bold vision of Wista Internation…

Nabors Industries Ltd, the Bermudian-domiciled energy technology company, is to acquire Houston-based Parker Wellbore, which provides drilling services across global energy markets.
The companies said…

Karen Clark & Company estimates that the privately insured loss from Hurricane Milton will be close to $36 billion in the US from wind, storm surge and inland flooding.
The loss estimate is based …

Muuvment, the social impact company based in Bermuda, has launched Muuvment IQ, an expert-trained, generative artificial intelligence sustainability product.
The company said that it leveraged a rich,…

Flex LNG Ltd, the liquefied natural gas shipping company based in Bermuda, has announced that the aggregate $430 million of new financings announced in its second quarter report have been completed ac…

For years Madison Lusher helped her father, Stephen Lusher, run Designer & Vintage Market at 3 Queen Street in Hamilton.
Now, the two have sold off much of their antique stock and moved further up…

Liberty Corporate Capital Ltd, represented by Jane Warren, has been elected as a corporate external member of the Council of Lloyd’s.
The term of office, which is to begin on February 1, 2025, will be…

Arch Capital Group Ltd, a publicly listed Bermuda exempted company with approximately $23.4 billion in capital, has appointed Nicolas Papadopoulo as its new chief executive.
Mr Papadopoulo has held hi…

Price Forbes Re, an independent specialist risk strategy and reinsurance broker based in Bermuda, London and the US, has appointed Colin Kelley to the newly created role of chief commercial officer.
I…