Royal Gazette

AM Best has removed from under review with developing implications and affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Lombard I…

It’s the most wonderful – and most expensive – time of the year! And if you are like so many others who are struggling to get out of debt, this season can cause a lot of stress and completely derail y…

The RG/BSX Index closed on Friday unchanged at 2,344.88 after a day of no trading on the Bermuda Stock Exchange.
For the week, the Index was up 90.88 points (3.87 per cent) on share volume of 41,000 a…

AM Best has revised the outlook to stable from negative for the long-term issuer credit rating and affirmed the financial strength rating of A (Excellent) and the long-term ICR of “a+” (Excellent) of …

The ratings of SiriusPoint Ltd’s operating subsidiaries are unchanged following published reports that CMIG International Holding Pte Ltd – the parent of SiriusPoint’s key shareholder CM Bermuda Ltd -…

Bermudian-based Axis Capital Holdings Ltd has announced that Axis Insurance Company has secured a four-year contract to provide specialty accident and health insurance solutions to governmental, educa…

Financial services company Somers Ltd made a 2023 net loss of £32 million (more than $40 million) according to a filing with the Bermuda Stock Exchange.
The company reported lower total assets and a m…

Jewellers David and Rose Zuill have invited the public to help them celebrate the 11th anniversary of their jewellery business, Davidrose.
Friday, they will be offering sweet treats, and 11 per cent o…

Issues ranging from putting capital to work to the role of AI in insurance evolution will come under the spotlight at a conference next year at the Hamilton Princess & Beach Club.
The 2024 Bermuda…

Avance Gas Holding Ltd, the Bermudian-based company engaged in the transportation of liquefied petroleum gas, has agreed to sell two newbuildings for $240 million, pocketing an estimated $73 million p…

Bermudian-based Everest Group Ltd has appointed Mark Julian as chief actuary, Everest Insurance International.
The company said Mr Julian will report to Adam Clifford, co-lead of Everest Insurance Int…

The RG/BSX Index closed up 36.04 points (1.60 per cent) to finish at 2,291.25 on Wednesday, with a turnover of $829,293.
BF&M Ltd saw 18,000 shares change hands to close at $25.50, up $1.01 (4.8 p…

A subsidiary of Bermudian-based Arch Capital Group Ltd has announced that its non-profit accident insurance product is now available through the Arch Apex digital platform.
Arch Insurance said the pla…

Bermudian-based Axa XL has appointed Mike Gosselin as chief underwriting officer, UK & Lloyd’s, effective April 2024 subject to regulatory approval.
The company said Mr Gosselin will be responsibl…

The Royal Hamilton Amateur Dinghy Club has gone green.
The RHADC, founded in 1882 and elevated to royal status a year later, has made a commitment to sustainability with a range of initiatives under t…

An upgrade to a subsea cable used by One Communications should be finalised by the middle of next year helping to future-proof its internet capacity.
The move is part of a multimillion-dollar investme…

Bacardi, the Bermudian-based drinks giant, has completed the world’s first commercial production of a glass spirits bottle fuelled by hydrogen in a trial that took place earlier this month.
The compan…

Christmas is one of the best times of the year. And if you have children, you know the joy of seeing their faces light up when they realise Santa squeezed himself down the chimney, dropped off a roomf…

Dear Dave,
We’re following your Baby Steps plan, and we’ve paid off all our credit cards. But when I talked to my husband the other day about cutting up the cards and closing the accounts, he said he …

The RG/BSX Index closed on Friday unchanged at 2,254.01 after a day of no trading on the Bermuda Stock Exchange.
For the week, the Index closed up 136.44 points (6.05 per cent) on share volume of 36,2…

Astwood Dickinson is to celebrate the 50th anniversary of its iconic Bermuda Collection of jewellery by releasing a new design each month during 2024.
The January piece, a pink Bermuda scooter pendant…

The significant contribution to Bermuda by international insurers and reinsurers may become even more valuable, according to industry leaders.
A statement from the Association of Bermuda Insurers and …

When Gibbons Company agreed to sell Chloe Burns’ candles, the teenager was both excited and stunned.
“It feels a bit weird that people are willing to buy things that I made, literally in my dad’s bas…

Bermudian-based Concert Insurance Group has promoted Alison Davidsen to the newly created role of chief operating officer.
Ms Davidsen, who joined Concert in July 2022 as vice-president, client manag…

Hamilton Insurance Group Ltd has reported third-quarter net income of $43.6 million in its first earnings report since the company’s launch on the New York Stock Exchange last month.
Pina Albo, the ch…

The RG/BSX Index closed on Wednesday at 2,254.01, up 82.81 points (3.81 per cent).
Some 13,200 shares in Bank of NT Butterfield Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $30…

The Bermuda Economic Development Corporation has launched its annual holiday season promotion for the island’s three economic empowerment zones.
The Eat, Shop, Play campaign continues through January …

Augment Risk, the new reinsurance brokerage firm with a presence in Bermuda, has announced the arrival of Andrew Matson as chief executive officer.
Mr Matson joins Augment Risk after more than three y…

Appleby, the international law firm with an office in Bermuda, has been recognised in six offshore jurisdictions in the 2024 edition of the Chambers and Partners FinTech Guide
The firm’s Bermuda offic…

Christine Patton, executive director of the Bermuda International Long Term Insurers and Reinsurers and executive adviser Curtis Dickinson, met with state insurance commissioners, their staffs and Bil…

Bermuda Aviation Services Ltd has formally appointed Gail E. M. Miller as board chairwoman and E. Michael Leverock as deputy board chairman.
The company said Ms Miller had enjoyed a long association w…

Bermuda’s corporate landscape is witnessing a transformative wave. Businesses, both large and small, are beginning to understand the immense potential of generative AI.
However, the journey from awar…

Government has signed a memorandum of understanding with the Emirates Family Office Association to bring a branch of the association to Bermuda within the next 12 months.
The agreement is part of move…

AM Best continues to keep a close watch on Bermudian-based Argo Group following the company’s acquisition by Brookfield Reinsurance Limited in an all-cash transaction valued at approximately $1.1 bill…

Bermuda is at a pivotal point, with challenges and risks never greater, the chairman of the Association of Bermuda International Companies told the group’s annual meeting.
Patrick Tannock, CEO of Axa …

Apollo, the Bermudian-based independent specialist insurer and reinsurer, has written its first two risks under its new ‘Smart Follow’ venture, powered by Artificial Labs, the London-headquartered alg…

The Olde Towne was bustling with activity last night as the annual National Trust Walkabout drew thousands to the East End.
Businesses and historical homes throughout the Town of St George welcomed vi…

Axis Capital has appointed David Shluger as head of cyber-risk advisory.
The Bermudian-based global specialty underwriter said Mr Shluger will oversee an ambitious strategy to elevate its programme of…

Bermuda Aviation Services Ltd and its subsidiaries have reported net income from continuing operations of $500,000 for the six months ended September 30.
That compares with $800,000 over the comparati…

KKR & Co Inc, the global investment firm, is to take sole ownership of Bermudian-based Global Atlantic Financial Group LLC.
The parties have announced a definitive agreement under which KKR will a…

Compre, the Bermudian-domiciled international legacy group, has appointed LoriAnn Lowery-Biggers and Jonathan Reiss as independent non-executive directors of its holding company in Bermuda, subject to…

Rose Marie Glazer has been named general counsel at American International Group Inc.
Ms Glazer, who had served as interim general counsel since October 1, will oversee AIG’s legal, compliance, regula…

More than 80 Artex employees visited six rest homes across the Island as part of their Giving Tuesday this week.
Giving Tuesday is a global day of giving with individuals encouraged to support good ca…

Bermudian-based companies undertaking business with Russian entities must comply with the island’s sanctions regime, which has expanded significantly since the beginning of the war in Ukraine.
Those c…

Seadrill Ltd, the Bermudian-based offshore drilling company, has reported third-quarter income of $90 million.
The company said it delivered $151 million of adjusted earnings before interest, tax, dep…

San Francisco-headquartered US Capital Global has entered into a term sheet to provide credit facilities totalling a minimum of $100 million to Laser Light Companies, subsidiaries of Bermudian-based …

A presentation about how a Labour government in Britain might impact the island and other similar jurisdictions is among the features of the annual Society of Trust and Estate Practitioners Bermuda Co…

The $7.4 billion sale of Bermudian-based Textainer Group Holdings Ltd to Stonepeak, the New York-headquartered alternative investment firm, is a step closer to completion.
Textainer, one of the world’…

A stability report just out from the Bank of International Settlements has warned of “an increasing likelihood of widespread disruptions to the financial sector, economy, society and humanity at large…

The Swiss Re Institute has forecast a slowing of the world economy in the year ahead, but also proposed that the insurance industry will not earn its cost of capital over the next two years.
A sigma a…