Royal Gazette

The RG/BSX Index rose 2.15 or 0.09 per cent to close at 2510.96 today, after trading of 22,200 shares on the Bermuda Stock Exchange, valued at $332,700.
Bank of Butterfield closed unchanged at $36 aft…

Spurred on by record sea temperatures in the Gulf of Mexico, the Tropical Storm Helene this morning mushroomed into a hurricane and is expected to continue to grow into a massive storm before slamming…

Bermuda was among three countries welcomed as an associate by the Global Cross-Border Privacy Rules Forum a month ago, after the Global Forum Assembly agreed to the membership committee’s recommendati…

Exposure growth, not climate change, has been by far the biggest driver of increasing property losses, says a leading risk modeller.
Karen Clark, a pioneer in catastrophe modelling, believes her indus…

Bermuda’s reinsurers are expected to use deferred tax accounts for provisions in Bermuda’s Corporate Income Tax Act over a rolling period, a rating agency report has said.
AM Best, in a composite revi…

AM Best has affirmed the credit ratings of the operating subsidiaries of Bermudian-based Essent Group Ltd.
The ratings agency affirmed the financial strength rating of A (Excellent) and the long-term …

The RG/BSX Index remained unchanged at 2508.81 after a day of no trading on the Bermuda Stock Exchange.
Bank of Butterfield fell 21 cents (0.56 per cent) to $37.30 at the close of the New York Stock E…

Electricity provider Belco is now seeking applicants for its 2025 apprenticeship programme.
Shaun Roberts, the company’s training and development manager, said the four-year course blends overseas and…

AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of “bbb” (Good) of Bermudian-based Sura Re Ltd.
The outlook of these credit ratings is stable.
T…

Bermuda legal services firm, MJM acted as lender counsel to Starwood Property Trust and GoldenTree Asset Management on the financing of the Fairmont Southampton Hotel redevelopment.
The transaction wa…

Sun Life International has been named Bermuda’s best boss, in this year’s Royal Gazette Top 10 Employer Awards, presented by PwC.
The winners were announced today during a breakfast at the Hamilton Pr…

The absence of key components in the Bermuda Government’s “sugar tax” policy affected acceptance by the general public and limited potential health impacts.
This, from one of three published papers Th…

A wide variety of workplaces made this year’s list for The RG Top 10 Bermuda Employer’s Awards, presented by PwC.
The awards are being presented this morning at the Hamilton Princess Hotel & Beach…

Bermudian Max Tetlow is rejoining the Bermuda office of Appleby as partner.
He began his legal career with Appleby in 2014 and spent four years with the firm before moving to Australia to work for a …

Samuel Resnik has been granted the 2024 EY Bermuda Gil Tucker Scholarship.
The award is valued at up to $30,000 per year until the recipient has completed the minimum educational requirements to pursu…

A privately-owned, Bermuda-headquartered managing general underwriter has completed what they called a landmark refinancing.
The Fidelis Partnership said it marks for them a further significant milest…

Sir Charles Roxburgh KCB is to become the next chairman of Lloyd’s, the organisation has announced.
The appointment of Sir Charles, who was appointed Knight Commander of the Order of the Bath (KCB) in…

Interpath, the new international financial advisory firm, continues to strengthen its suite of restructuring and advisory offerings across offshore markets by launching a Bermuda office.
Leading Bermu…

An overgrown garden inspired middle schooler Enoch Ball to start his own business. Three years ago, everyone in Enoch Ball’s house was busy. His mother, Katrina Ball, had just started a new job, while…

Advocates for improved health claim the beverage industry is engaged in a global campaign “to thwart government efforts aimed at reducing the consumption of sugary drinks”.
The Global Health Advocacy …

Sixteen years after their inception, the RG Top 10 Employer Awards, presented by PwC, are firmly established as Bermuda’s most prestigious business accolades.
Employer representatives will be on hand …

The Supreme Court of Bermuda has sanctioned a scheme of arrangement regarding the redomiciliation of Hafnia Ltd, the tanker-owning company, from the island to Singapore.
The company said a copy of the…

A surge in business e-mail compromises has placed a growing financial burden on small and medium-sized enterprises, according to a new report by NetDiligence, the cyber risk readiness and response ser…

There has been an increasing trend where couples are together and in a committed relationship but keep their finances separate and only contribute to the joint bills – with everything else remaining i…

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My husband is really excited after reading your books, and now he’s determined to start living on a budget. I love seeing this kind of passion and determination in him, but I’m not sure abo…

Carrick Group Ltd, the Bermudian-based international non-life legacy insurance business providing reinsurance and run-off solutions, has expanded its global footprint.
The company’s wholly-owned subsi…

The founders of Paradise Mobile were on hand today as the new mobile phone provider hosted a grand opening for its retail shop on Reid Street in Hamilton.
City officials joined with the company at the…

Page Grundmuller, senior vice-president at Axa XL Bermuda, will retire this month after an astounding thirty-four years of service with the company.
Page is well-known and respected within the commerc…

Running a tailoring shop for nine years, Rene Hill saw some horror-story wedding dresses come in for alterations.
“Dresses bought online can be really tacky,” said Ms Hill, of Rene Hill Originals. “A …

The Awbury Group and Polo Managing Agency Ltd have announced that Lloyd’s has granted in-principle approval for Awbury Syndicate 2025 to commence underwriting from January 1.
Awbury Syndicate 2025 is …

Next month’s Convergence 2024 will spotlight the transformative power of innovation in the insurance-linked securities market by bringing together global experts to discuss regulatory frameworks, cutt…

Convex Group executive chairman Stephen Catlin is to deliver the keynote address at the PwC Insurance Summit in November.
Registration has already opened for the event, which will be presented with th…

Bermudian-based Bacardi Ltd and The Coca-Cola Company have announced an agreement to debut Bacardi rum and Coca-Cola as a ready-to-drink pre-mixed cocktail.
The new ready-to-drink combination will be …

Paradise Mobile has invited the community to celebrate its new flagship retail space in Hamilton at a grand opening tomorrow.
The new space at 24 Reid Street in the former United Colors of Benetton lo…

A former Commanding Officer of the Royal Bermuda Regiment is to offer his leadership skills for the benefit of the private sector.
Lieutenant Colonel (Ret) Benjamin Beasley has been appointed as princ…

Insurance industry executive Christian Dunleavy has been appointed as the new chairman of the Association of Bermuda International Companies, succeeding Patrick Tannock.
Mr Dunleavy, who has more than…

Only hours after the Federal Open Market Committee said they would lower the target range for the federal funds rate by half a percentage point to 4.75 to 5 per cent, Butterfield Bank said they would …

BermudAir said today it was drawing more non-peak season visitors to the island with its latest travel offer.
As part of a limited-time promotion, those booking a BermudAir Holiday package in Septembe…

Mosaic Insurance, the Bermudian-based global specialty insurer, has launched customised global terrorism and sabotage coverage for fine art and specie insureds, with syndicated capacity extending up t…

Arch Insurance International, part of Bermudian-based Arch Capital Group, has promoted Maggie Munns to the position of head of Executive Assurance and Matthew Doherty to director of Underwriting, Exec…

Property and specialty insurer and reinsurer IQUW has announced the appointment of Peter Hearn as an independent non-executive director to the IQUW Holdings Bermuda board.
The company said Mr Hearn is…

Bermudian-based Axis Capital Holdings Ltd has appointed Sara Mitchell as its future head of Global Markets.
She succeeds Mark Gregory, who will retire from the company next March following a career th…

Bermudian Jodi Covington’s firm, Brand Development Group, has been chosen as one of America’s top 100 small businesses.
She received the recognition from the US Chamber of Commerce and CO–, the Chambe…

Tucker’s Farm Group, the Bermudian-based investment holding vehicle, has sold its minority stake in VIO Med Spa, the leading medical spa franchiser in the United States, in a deal worth more than $100…

Bermudian-based Vantage Group Holdings Ltd has promoted Lila Granda to the position of head of Political Risk and Credit.
She will join the group’s Insurance leadership team and report to Alex Blanco,…

Kewsong Lee, the founder and chief executive of BellTower Partners, will be appointed chairman of the board at Ascot Group Ltd, the Bermudian-based global specialty insurance company.
In connection wi…

Auto Solutions sales associate, Somers Smith has been recognised as a top Suzuki sales adviser, for the fourth time.
The award named him as one of the top three outstanding performers in the Caribbean…

Bermudian-based Ascot Group, the global specialty insurer and reinsurer, has completed the sale of the property and casualty managing general underwriters owned by Ethos Specialty Insurance LLC to Rya…

Bermudian-based Axa XL has appointed Chris Caponigro as the head of Reinsurance Capital Management.
In his new role, the company said Mr Caponigro will further expand the product offering and investor…

A near seven year old government proposal to raise height restrictions on city buildings has been floated again, but this time from within the private sector.
Bermuda architects believe the delivery o…