Royal Gazette

The RG/BSX Index was unchanged on Wednesday holding steady at 2161.56 points, in the absence of trading on the Bermuda Stock Exchange.
Meanwhile, Butterfield Bank was up nine cents on the New York Sto…

Apex Group is opening an office in Denver in order to serve clients in the area and add to its already substantial US presence.
The financial services company founded in Bermuda said it already has t…

The Labour Day holiday has coincided with the release of the Polaris Holding Company Ltd annual report which reveals major concessions won by those who comprise the port workers division of the Bermud…

The RG/BSX Index remained idle at 2,161.56 Tuesday with no trades on the Bermuda Stock Exchange.
Meanwhile, The Bank of N.T. Butterfield & Son Limited fell 81 cents (2.7 per cent) to close at $28….

Bermuda’s Enstar Group has agreed to provide protection for American International Group against possible adverse developments related to Validus Re’s loss reserves to which it is still exposed.
Earl…

Bermudian Paul Simons has been named as the next Convex Group Limited Bermuda chief executive officer, effective January 1, 2024.
Convex, the international specialty insurer and reinsurer, has also na…

Collington Perinchief has been promoted to preventative maintenance manager at the Hamilton Princess & Beach Club.
He has been with the company for 11 years.
Mr Perinchief began his career at the…

Mosaic insurance has underwritten about a quarter of a billion dollars in gross written premiums through its syndicated capital programme.
The programme was established in early 2022. It has attracted…

The Association of Bermuda Insurers and Reinsurers is holding a lunch forum to mark its 30th anniversary.
It will be held on September 26 at Hamilton Princess & Beach Club, with proceeds supportin…

Paratus Energy Services has announced the appointment of Joachim Bale to its board.
The Hamilton, Bermuda-based company said the appointment was effective August 30.
Bale graduated from the Universit…

A new water park in the west is splashing out for Bermuda’s adults and visiting tourists.
The owners believe that it won’t just be children eager to test their excitement on water slides, including on…

AM Best has affirmed the credit ratings of Bermuda captive, Rembrandt Insurance Company, owned by Swiss-headquartered Vitol Holding, a group engaged in the trading of energy-related products.
The agen…

Moody’s RMS estimates total private market insured losses from Hurricane Idalia of between $3 billion and $5 billion, with a best estimate of $3.5 billion.
The estimates represent insured losses assoc…

The European Commission has approved RenaissanceRe’s acquisition of sole control of the treaty reinsurance business of American International Group.
The parties announced in May that they had entered …

Markel Bermuda has joined a committee of creditors in the bankruptcy of Vesttoo.
The Tel Aviv-based insurtech is in Chapter 11 in Delaware, while a related entity in Bermuda is in liquidation, after i…

The Bermuda Economic Development Corporation and Abacus will host an eight-week course called Financials 101 to help small and medium-sized business owners get better at handling their finances.
Lenn…

The Cayman Islands Monetary Authority has reported that recent figures for insurance licences demonstrate the continued strength of the jurisdiction’s insurance industry.
The statement comes after the…

Compre, the Bermuda headquartered international legacy group, has completed its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company DAC, which provided insurance policies covering …

The flash estimates from Karen Clark & Company are that the privately
insured loss from Hurricane Idalia will be close to $2.2 billion, with less than $5 million in wind damage in the Caribbean…

In the third and final part of the Moneywise review of the Bermuda Corporation Income Tax Consultation Paper issued by the Bermuda Government, we look at the implications of the potential new tax…

Dear Dave,
I just discovered you and your teachings a couple of weeks ago. I’m already on Baby Step 2, and I was wondering if I should buy life insurance now or wait until I’ve finished paying off deb…

The RG/BSX Index closed on Friday unchanged at 2,161.56 on a day of no trading.
For the week, the Index closed down 55.91 points (2.58 per cent).
Share volume for the week was 41,240 and total turnove…

Bermudian scam artists and unscrupulous tradesmen are ripping off the island’s senior citizens for thousands of dollars, leaving them feeling helpless and with no hope on the horizon.
The victims, man…

AM Best has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the long-term issuer credit rating to “a” (Excellent) from “a-” (Excellent) of Inpex Insurance, the Bermudia…

Overall profitability deteriorated in 2022 but Bermudian and US reinsurers collectively reported improved underwriting results and a second consecutive year of top-line growth, a new report reveals.
T…

Affinity International reported $6.4 million of total comprehensive income in 2023, down from $11.5 million in 2022.
The Bermuda-incorporated holding company owns 51 per cent of Suburban Control Centr…

Starr Insurance, the international insurance and investment organisation with a subsidiary domiciled in Bermuda, has appointed Christopher Magee as vice president, international head of financial line…

The RG/BSX Index closed on Thursday unchanged at 2,161.56.
Some 9,800 shares in Argus Group Holdings changed hands. The stock closed unchanged at $6.
Some 2,700 shares were traded in Bank of NT Butter…

Bermudian-based Cool Company, the liquefied natural gas shipping company, has reported net income of $44.6 million in the second quarter of 2023.
That compares with net income of $70.1 million in the …

European Depositary Bank SA, the Luxembourg-headquartered subsidiary of Bermudian-based Apex Group, has financed a revolving credit facility for i(x) Net Zero.
Apex said i(x) Net Zero is a publicly li…

Five individuals at KPMG in Bermuda are to take on new roles.
Felicia Wilsen, Sarah Robey and Anam Khan have been appointed partners at the firm, effective October 1.
The firm said the appointments of…

Bermudian-based Signet Jewelers, the world’s largest retailer of diamond jewellery, has reported GAAP operating income of $90.2 million for the second quarter of fiscal year 2024, down $96.6 million f…

A delegation from Bermuda is to attend the Insurtech Israel Global Summit next week in Tel Aviv.
The event runs from Monday through Thursday.
The tech-focused business development mission has been org…

Fresh concerns are emerging about the troubled insurtech Vesttoo after new reporting that its chief executives, earlier put on paid leave, have been fired.
They have responded with explosive allegatio…

Etteleon Burchall has been selected as the recipient of the 2023 BF&M Post Graduate John Wight Scholarship.
The company said the scholarship will support her pursuit of a Master of Science degree …

The RG/BSX Index closed on Wednesday at 2,161.56, down 55.91 points (2.52 per cent).
Some 400 shares in BF&M Ltd changed hands on the Bermuda Stock Exchange. The stock closed at $22, down 25 cents…

Bermudian-based Axa XL has appointed Lucy Pilko as chief executive officer for the Americas region of its insurance operations, a remit that includes Bermuda.
The appointment is effective on October 3…

Nine aspiring young entrepreneurs have graduated from the sixth annual Summer Student Entrepreneur Programme presented by the Bermuda Economic Development Corporation.
Students who received certificat…

Bermudian-based Mountain Protocol Limited has been granted a Class M digital asset business licence by the Bermuda Monetary Authority.
Allowed business activities under the licence are issuing, sellin…

Bermudian-based Sompo International, the global provider of commercial and consumer property and casualty re/insurance, has appointed Vicky Sarjeant as head of Energy Insurance, Asia Pacific.
The comp…

Hiscox Re & ILS, the reinsurance and insurance-linked securities arm of Bermudian-headquartered specialist global insurer Hiscox, has appointed Ryan Barker as chief technology officer.
The company…

Borr Drilling Limited, the Bermudian-based oilfield services company, has announced that its premium jack-up rigs Prospector 5 and Natt have received a letter of award for work in West Africa in direc…

Starr Insurance, the international insurance and investment organisation led by Maurice R (Hank) Greenberg, has appointed Sean Chen as chief executive officer of Starr Singapore.
The company said Mr C…

Shareholders of West Hamilton Holdings Ltd will soon vote at the company annual meeting on a proposal to delist from the Bermuda Stock Exchange.
Item nine on the agenda of purposes for the meeting sta…

A new survey from Chubb, the world’s largest publicly traded property and casualty insurance company, reveals that a majority (56 per cent) of financial executives involved in insurance decision-makin…

Three promising young entrepreneurs have pitched their ideas in the youth finals of the Wave of Opportunity Pitch Competition.
The event is a presentation of the Bermuda Economic Development Corporati…

The RG/BSX Index closed on Tuesday unchanged at 2,217.47 on a day of no trading on the Bermuda Stock Exchange.
Overseas, Butterfield Bank closed up 67 cents (2.37 per cent) at $28.90 on the New York S…

Arch Reinsurance Ltd has promoted Crystal Doughty to chief underwriting officer, property and William Soares to chief underwriting officer, casualty and specialty.
Both will report to Jerome Halgan, C…

Acrisure Re, the reinsurance broking and advisory firm with an operation in Bermuda, has expanded its corporate advisory and solutions division with two appointments.
Steve Ryland becomes global head …