Royal Gazette

Arch Insurance has furthered its European expansion with two cyber appointments in France.
Sergio Pierro joins as senior cyber underwriter and Roxanne Deslandes as cyber underwriter.
They join Arch In…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty (re)insurance, has made two appointments for its UK Commercial P&C Insurance business unit…

AM Best has revised its ratings for Accredited, the programme management business of Bermudian-based R&Q Insurance Holdings Ltd that is to be sold to funds advised by Toronto-based Onex Corporatio…

Chubb Limited has reported third quarter net income and core operating income were each $2.04 billion, up 157.8 per cent and 55.4 per cent, respectively.
For the first nine months, net income was $5.7…

Joining a highly-regarded research hub will assist in the management and understanding of risk, a Bermuda-based executive at Axa XL has said.
Andrew MacFarlane, the head of climate at Axa XL, was spea…

The RG/BSX Index closed on Monday unchanged at 2,086.27.
One thousand shares in BF&M Ltd changed hands on the Bermuda Stock Exchange, with the stock closing unchanged at $24.49.
Overseas, Butterfi…

24 Exchange, the multi-asset trading platform, set a record for foreign exchange non-deliverable forward trading volume on a single trading day last week, processing more than $3.1 billion for its glo…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty (re)insurance, has made two senior appointments for its Iberian Insurance team.
José María Con…

Bermudian-based R&Q Insurance Holdings Ltd is to sell Accredited, its programme management business, to funds advised by Toronto-based Onex Corporation for $465 million.
The company announced in A…

Golar LNG Ltd, the Bermudian-based owner of tankers that haul liquefied natural gas, has announced that floating LNG carrier Hilli Episeyo has successfully offloaded its 100th LNG cargo.
As the world’…

The global expansion of the Apex Group, a Bermuda-founded service provider continues, with a ratings agency unmoved by their latest borrowing.
The company has become one of the world’s largest provide…

Xceedance, the Bermudian-registered technology company, is to establish a centre of excellence for generative artificial intelligence.
The company said this initiative will see significant investments…

Axa XL Risk Consulting has launched Axa Immersive Solutions, a training solution leveraging virtual reality and digital twin technologies.
The company said it gives Axa XL’s risk consultants access to…

Markel, the insurance operation within Markel Group Inc, has made a 49 per cent strategic investment in Certa, the market-leading tax managing general agent.
The company said this move will accelerate…

White Mountains Insurance Group Ltd, the Bermuda-domiciled financial services holding company, has agreed to acquire a majority stake in Bamboo Ide8 Insurance Services LLC, a managing general agent fo…

A Caribbean risk pool supported by Bermuda has paid out a total of $3.4 million o the governments of Antigua and Barbuda and the British Virgin Islands following Tropical Storm Philippe.
The segregate…

There is nothing “vanilla” about the trust industry in Bermuda, said lawyer Keeka Simons.
“There is not a monotonous day-to-day routine,” the trust and corporate associate at Lombard Odier Trust told …

Arch Insurance has appointed Jose Carlos Jiménez Fernández and Rafael Ortiz Losada as senior cyber underwriters.
They join Arch Insurance (EU) dac, which provides specialist property and casualty insu…

Zak Mallen has joined the Bermuda office of Aon as a managing director and head of strategic growth for casualty reinsurance.
Mr Mallen joins after 10 years at Chaucer Group.
Announcing the news on Li…

Most of Bermuda could be underwater in another 50 to 100 years, one natural disaster expert has warned.
“That would be if the Antarctic and Greenland Ice Sheets really started breaking up,” seismolog…

Information governance is a growing area of career opportunity for Bermudians, the island’s Privacy Commissioner said on Tuesday at a meeting of privacy professionals at the Hamilton Princess & Be…

Consumers will increasingly be able to buy insurance at the point of purchase for almost anything important including travel, cars, homes, but also for a host of consumer goods.
Is it easier to buy tr…

Sompo International, the Bermudian-based global provider of commercial and consumer property and casualty (re)insurance, has appointed Redouane El Oulhani as head of distribution and client relationsh…

A former banker at Goldman Sachs has been appointed to the board of directors of Borr Drilling Limited, the Bermudian-based oilfield services company.
Jeffrey Currie, who recently retired from Goldman…

The RG/BSX Index closed on Tuesday at 2,113.17, up 26.40 points (1.27 per cent).
Two thousand shares in Devonshire Industries Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $5.00…

Bermudian-based Aspen Insurance Holdings Limited has announced an industry-first partnership with London-headquartered Ki Insurance to provide digital follow capacity through Ki’s Lloyd’s platform fro…

A Bermuda company has won an arbitration award of more than a quarter-billion dollars against a South American country.
The dispute, which stretches back more than 16 years, was initiated after Bolivi…

The capabilities and impact of artificial intelligence carry the threat of harm but can also provide societal benefits, delegates to the 45th Global Privacy Assembly heard on Monday at the Hamilton Pr…

Bermuda’s Hamilton Insurance has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering on the New York Stock Exchange.
The exact size of…

Blocks of shares of Bermuda’s leading domestic insurers were on the move in the wake of boardroom moves and counter moves involving the two companies.
The RG/BSX Index closed on Monday at 2,086.77, up…

AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Bermudian-based RVI Guaranty Co Ltd and it’s Delaware-based subsidiar…

Bermuda is one of nine non-metropolitan territories in the English-and Dutch-speaking Caribbean that is joining 13 International Labour Organisation member states in welcoming a new ILO regional direc…

The ratings of Bermudian-based Prosperity Life Assurance Limited remain unchanged following the announcement of a billion dollar merger involving a related company, AM Best has commented.
The ratings …

The RG/BSX Index closed on Friday unchanged at 2,074.27 on a day of no trading on the Bermuda Stock Exchange.
For the week, the Index was up 23.37 points (1.12 per cent) on share volume of 28,800 and …

BF&M has cancelled its poison pill, just days after agreeing to a strategic partnership that could turn the table on Argus.
In an announcement to the Bermuda Stock Exchange, BF&M said: “Follow…

A strong line up of executives will participate in the The PwC Insurance Summit, presented with the Financial Times, at the Hamilton Princess and Beach Club on November 9.
Moderated by PwC Bermuda’s i…

Entrepreneurs Kim Caisey and Rickai Robinson have launched the Bermuda Cannabis Association, the island’s first self-regulatory organisation for the cannabis industry.
Ms Caisey said the for-profit BC…

Bermuda’s Personal Information Protection Act 2016, which comes into full force on January 1, 2025, includes an important compliance obligation that the public sector is far more familiar with than th…

American International Group is shuffling leadership in preparation for the new year.
The Bermuda-based firm’s chief executive officer, general insurance, David McElroy, will take on the newly created…

The RG/BSX Index closed on Wednesday at 2,055.48, up 4.58 points (0.22 per cent).
Seven hundred shares in BF&M Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $21, up 50 cents…

BermudAir is adjusting its plan for an all-business-class configuration and opting for more of a hybrid model.
“Yes, the rumours are correct,” company chief executive Adam Scott said. “We are adjustin…

Ascot Group, the Bermudian-based global specialty insurance company, has appointed industry veteran Pat Stoik as executive vice president, head of marine, for Ascot US.
Mr Stoik, who is to join on Oct…

Traditional financial institutions will drive the next phase of growth in the digital asset marketplace, delegates to the Bermuda Tech Summit heard on Monday.
The current bear market, driven by a rang…

A Cybersecurity Governance Board under the authority of the Ministry of National Security is spearheading the development of a National Computer Security Incident Response Team to support both private…

The RG/BSX Index closed on Monday unchanged at 2,050.90 after a day of no trading on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 14 cents (0.53 per cent) at $26.48 on the New York…

A former National Football League player turned writer for television will be among the featured speakers on the island during Global Entrepreneurship Week in November.
Ephraim Salaam, an offensive li…

Appleby partner Duncan Card is to feature on a panel at the Convergence 2023 conference presented by ILS Bermuda.
Mr Card, a member of the firm’s global technology and innovation practice, will appear…

Arch Capital Group has promoted Seamus Fearon to the position of CEO, international mortgage, in the company’s Global Mortgage Group.
He was most recently executive vice-president, credit risk transfe…

Three Bermudian-based insurers have participated in a $20 million Series A financing round in support of New York-headquartered Reserv, the AI-driven insurance claims processing insurtech.
This latest…

Bermudian-based Hudson Structured Capital Management Ltd, which does its (re)insurance business as HSCM Bermuda, has appointed Jeff Sangster as chief operating officer and head of strategy.
Mr Sangste…