Royal Gazette

Ariel Re, the Bermudian-based global reinsurance business, has secured $270 million of capital from five new institutional and family office investors to support growth opportunities in 2023.
The comp…

Apex Group Ltd, the Bermudian-based global financial services provider, has successfully closed the acquisition of a Brazilian fund administrator.
Apex said its purchase of BRL Trust DTVM had receive…

Conduit Re, the reinsurance company based in Bermuda, has appointed Mario Binetti in the new role of head of casualty.
Mr Binetti joins Conduit from BMS Re, where he was head of casualty treaty and ac…

Nicolas Burnet has been appointed as the new chief financial officer at Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty re/insurance.
Mr Burne…

Roberto Ramirez Laverde has been appointed to the post of global SVP, Bacardi Rum.
He takes on an open role following the promotion of Ned Duggan to global chief marketing officer of Bacardi and presi…

Vicki Steele has been appointed as the new chief operating officer of One Communications.
The company said Ms Steele brings a wealth of experience to her new role, having held the position of chief fi…

SiriusPoint Ltd, the Bermudian-headquartered global specialty re/insurer and Arcadian Risk Capital Ltd, the island-based managing general agent, have extended their multi-year partnership through 202…

New climate-related disclosure rules to be released by the US Securities and Exchange Commission next month are leaving people “scratching their heads”, according to Jeff Palmadesso, EY Americas insur…

Russia’s invasion of Ukraine last February was quickly followed by a sharp decrease in organised ransomware attacks worldwide, a leading expert revealed at the second annual Bermuda Risk Summit.
Yosha…

The Royal Gazette/BSX Index closed unchanged, for a second day, at 2,453.69 yesterday.
Butterfield Bank was unchanged at $35 on volume of 500 shares worth $17,500 on the Bermuda Stock Exchange.
On th…

The Argus Group hosted a series of race-related educational events for its employees in recognition of Black History Month.
The company’s efforts during the month of February aimed to raise awareness …

The Bermuda insurance market has demonstrated its resilience in recent years while weathering $100 billion of catastrophe claims, the global pandemic and soaring inflation and interest rates.
Having …

The Royal Gazette/BSX Index closed unchanged at 2,453.69 today.
Five hundred Argus Group Holdings shares changed hands for a turnover of $2,850 on the Bermuda Stock Exchange, closing unchanged at $5.7…

More can and must be done to close the racial income gap in Bermuda, David Burt,tThe Premier, said at the Bermuda Risk Summit 2023.
Speaking during the 2023 Diversity Equity and Inclusion Bermuda Trai…

AM Best has affirmed Bermudian-based Coralisle Group Ltd’s financial strength rating of “A” (Excellent) and its long term issuer credit rating of “a” (Excellent) for the group’s life/health, property/…

Bermudian-based insurer Enstar Group Limited has appointed Orla Gregory as president.
She succeeds Paul O’Shea, who retired on March 1 after 28 years with the company. He remains on the board of direc…

The current hard market is unprecedented in his half century in the industry, a leading re/insurance executive told an international audience on Monday at the second annual Bermuda Risk Summit.
Stephe…

One Communications employees held a food drive to donate a large quantity of non-perishable items to the Eliza DoLittle Society, a local charity that supports individuals and families in need.
One Com…

Huge legal settlements and jury awards in the United States are having a dramatic impact on the strategies employed by underwriters and brokers in Bermuda, an international audience heard at a confere…

High-voltage power lines, enclosed spaces and work at height are real dangers involved in solar panel installation.
But certified electrician and renewable energy consultant Joshun Stovell says that b…

Veteran insurance executive Kathleen Faries has been honoured with a lifetime achievement award by Women in Reinsurance, the professional organisation for women working in Bermuda’s reinsurance sector…

Veteran insurance executive Kathleen Faries has been honoured with a lifetime achievement award by Women in Reinsurance, the professional organisation for women working in Bermuda’s reinsurance sector…

Butterfield Bank repurchased 45,000 common shares on the Bermuda Stock Exchange in February, the bank said.
In a filing with the BSX, the bank said the shares were bought for an average price of $36….

In late February of 2000, Bill Zuill, then editor, now head of digital for The Royal Gazette, hired me as a finance columnist, even though I arrived soaking wet from an unexpected Bermuda shower, and …

Dear Dave,
I have an uncle who wants to gift some property to one of his sons, myself and my sister. The property is about 2.5 acres. My wife and I are trying to pay off debt in Baby Step 2 of your pl…

The Royal Gazette/Bermuda Stock Exchange Index closed down 3.16 per cent after trading took place on the Exchange for the first time all week.
The Index closed down 79.97 points to 2453.69 on volume …

AM Best has affirmed the ratings of the captive insurer of ultimate parent Sony Group Corporation.
AM Best said it had affirmed the financial strength rating of A (Excellent) and the long-term issuer…

Global Cloud Xchange, the Bermudian-based network service provider powering global connectivity for new media providers, telecom carriers and enterprises, has signed a strategic agreement with Cambrid…

A new, unified fleet management business majority owned by Bermudian-based Athene Holding Ltd, the financial services company, has been rebranded as Wheels.
The announcement follows completion of the …

Six executives based in Bermuda, or having strong business links to the island, have been named to the annual Power 50 listing compiled by Captive Review, the source of news and analysis for the risk …

A veteran of the Bermuda reinsurance market has been appointed as division president of Chubb Tempest Re International.
Wayne Ashley, who worked on the island from 2006 until 2017, was previously depu…

Peter Mullen, the CEO of Bermudian-based Artex Risk Solutions, is among three executives inducted into the Captive Review Hall of Fame.
Brady Young, CEO of Strategic Risk Solutions — the independent …

The Bermuda economy contracted by 5 per cent in real terms in the third quarter of 2022 in a surprise setback after strong growth in the first half of the year.
Jason Hayward, the economy and labour m…

Two Bermudian-headquartered organisations have signed an agreement for a ground-up loss portfolio transfer on a diversified portfolio of primarily reinsurance business.
The agreement between SiriusPoi…

Shiloh Todd first got the idea for a senior transportation service when his grandmother fell ill.
“We were going to the doctor, and he was giving me praise for taking care of my grandmother,” said Mr …

Ardonagh Group’s reinsurance broking arm, Inver Re, has appointed Alun Thomas, formerly of MS Amlin, to the new role of Global Head of Property Reinsurance.
Mr Thomas will be responsible for developin…

Premia Holdings Ltd, a Bermuda-based global acquirer and reinsurer of run-off portfolios, has joined the Association of Bermuda Insurers and Reinsurers.
Bill O’Farrell, the chief executive officer of…

Bermuda-registered International General Insurance Holdings Ltd today reported its full year profit nearly doubled in 2022, as claims declined.
IGI said net income for the year ended December 31, 202…

The Royal Gazette/BSX Index continued unchanged for a tenth day, finishing at 2,533.66 on Thursday, in the absence of trading.
Meanwhile Butterfield Bank finished down 72 cents or two per cent to clo…

The Bermuda economy contracted by five per cent in real terms in the third quarter of 2022 in a surprise setback after strong growth in the first half of the year.
But Jason Hayward, the economy and l…

The Minister of Economy and Labour, Jason Hayward, is to hold a press conference at 2pm on Bermuda’s third quarter 2022 economic performance. We will have live coverage.

Catalina Re’s environmental, social and governance committee this week recognised the work of the Lady Cubitt Compassionate Association with a $9,000 donation.
LCCA vice chair Peter Hebberd was “most …

A new audio guestbook service is available to book on-island for the first time.
Party Line BDA offers a retro telephone — in Bermudian pink — which allows guests to record messages at special event…

Strategic Risk Solutions, the independent insurance company manager with an operation in Bermuda, has partnered with — and received investment from — Integrum Holdings LP.
SRS said the partnership w…

Two Bermudian-headquartered organisations have signed an agreement for a ground-up loss portfolio transfer on a diversified portfolio of primarily reinsurance business.
The agreement between SiriusPoi…

24 Exchange, the multi-asset trading platform, set a record for average daily FX NDF (foreign exchange non-deliverable forward) trading volume in February, the organisation announced.
The company said…

A group of creditors of embattled telecommunications provider Digicel has agreed in principle to cancel up to $1.8 billion in debt in return for equity in the Bermuda-registered business.
Should the …

The Royal Gazette/BSX Index continued a nine-day streak of no change, finishing on Wednesday at 2,533.66.
Meanwhile the Bank of N T Butterfield & Son Ltd closed down ten cents (0.28 per cent) to $…

Fidelis Insurance Holdings Ltd, the Bermuda-based international insurer, today announced it had submitted a draft registration statement for an initial public offering with the US Securities and Excha…

Bermudian-based insurer Enstar Group Ltd has reported a loss of $906 million in 2021 driven by headwinds in the investments market.
The loss compared to a 2021 profit of $502 million. The downturn was…