Royal Gazette

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…

Watlington Waterworks has reported a 53 per cent jump in net profit in the first half of 2024 compared with the prior year period.
In a directors’ report to shareholders filed with the Bermuda Stock E…

Resolution Life, the Bermudian-based global life insurance group focusing on the acquisition and management of portfolios of life insurance policies, has appointed Moses Ojeisekhoba as president with …

Adam Birch has been named Coldwell Banker Bermuda Realty’s top sales and rental agent for the 2023-2024 year.
Mr Birch received his award from president and chief executive officer Brian Madeiros duri…

David Burt, the Premier and Finance Minister, has backed the island’s life reinsurance industry and island regulators in an interview this month with the Financial Times.
During the meeting with the F…

Kendaree Burgess, chief operating officer of the Bermuda Business Development Agency, is to appear on a panel at the Citywealth Forum in London in May.
Citywealth is an award-winning media and events …

I’m sure I speak for most people when I say that at some point in your life, you wonder whether it’s worth just simply renting as opposed to homeownership. Sure, there is the enjoyment of owning your …

Bermudian-based Signet Jewelers, the world’s largest retailer of diamond jewellery, has reported an operating loss of $100.9 million in the second quarter of fiscal year 2025.
That is down from operat…

For Londoner Rebecca Bateman, setting up a business in Bermuda as a non-Bermudian had its hurdles.
Before launching Bermy Recipe Box, she had to set up a full-limited company and then apply for a work…

As the world of work continues to evolve, workplace forum The Huddle, has arranged an event to help people navigate career transitions.
The virtual discussion on Tuesday will particularly target peopl…

The shareholders of Bermudian-domiciled Hafnia Ltd, the tanker-owning company, have voted to approve a scheme of arrangement that proposes to re-domicile the company to Singapore.
The company is to pe…

Abacus Ltd, the Bermudian-based accounting firm, has appointed Dominic Mensah to the role of financial solutions consultant.
Mr Mensah, who holds an MBA in Finance, has held a number of accountancy ro…

A sidecar established in 1999 by co-sponsors RenaissanceRe and State Farm Mutual Automobile Insurance Company has had its ratings affirmed by AM Best.
The ratings agency affirmed the financial strengt…

While government introduced a framework of solutions for family offices some six months ago, it appears there will be slow progress in attracting the speciality business of wealthy clients.
A family o…

AM Best has affirmed the credit ratings of Bermudian-based RenaissanceRe Holdings Ltd and its main subsidiaries, many of which are also domiciled on the island.
The ratings agency has:
• affirmed the …

With deepening concern over the climate crisis, the director of a global investments consulting company is advising his wealthiest clients to invest in heating, ventilation and air conditioning firms….

Gallagher has appointed Bermudian Jasmine DeSilva as managing director of its new specialty business on the island.
The global insurance broker, risk management services and consulting firm, which has…

Ninety per cent of the globe’s ocean-going tonnage is reinsured in Bermuda, the Bermuda Captive Conference was told.
In a session on Bermuda mutual captives, Tawana Tannock, managing director, Skuld …

The demographic shift towards an ageing population in Bermuda raises important matters that should be considered, including any legal problems encountered in the wake of an ageing trend, and what step…

Bermuda Aviation Services Ltd and its subsidiaries have reported total comprehensive income of a little more than $1 million for the year ended March 31.
The company’s income of $1.005 million compare…

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Ardellis Insurance Ltd.
The outlook of these credit rat…

Gregory Garnier has been appointed as chief executive of HSBC Bank Bermuda Ltd.
Mr Garnier, whose appointment becomes effective September 23, will succeed Steve Banner who has served as CEO of the Ber…

San Francisco-based Coalition, which bills itself as the world’s first Active Insurance provider designed to prevent digital risk before it strikes, has announced the creation of its reinsurance inter…

Industry veteran Pranav Shroff has joined Bermudian-based Axis Capital Holdings Ltd as head of Life Sciences in North America.
The company said Mr Shroff will lead the development of a suite of specia…

Multistrat, the specialty reinsurance and capital advisory firm, has announced two senior promotions in its underwriting team as the company continues to build out its expertise, talent, capital, bro…

Regulatory changes in Bermuda and elsewhere may affect investments and financial returns for global reinsurers, delegates to the annual gathering of Rendez-Vous de Septembre have been told.
The global…

Cyber insurance is poised for exponential growth over the coming decade, but it remains a capital-intensive peril that requires structural innovation, according to CyberCube, the cyber-risk analytics …

PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre in Monte Carlo this week.
The PwC Executive Breakfast at the Hermitage Hotel featured keynote spea…

The Argus Group has released its third annual Sustainability Report, charting its progress in addressing challenges including climate change and social equity.
The company said the focus is on how Arg…

Companies caught within the scope of Bermuda’s new corporate income tax regime will likely be required to make at least two periodic payments next year before making their first formal tax filing in t…

Mosaic Insurance is continuing the buildout of its Environmental Liability division across the Americas, adding 13 leading US environmental risk specialists to the team.
The division, which the compan…

Bermuda must improve its marketing game if it is to remain the jurisdiction of choice for the world’s captive insurance industry, a panellist said today at the Bermuda Captive Conference at the Pier S…

Fitch Ratings has affirmed a stable outlook for retirement services company, Athene, but said their investment portfolio remains more exposed to potential market volatility than the broader life indu…

Six credit rating agencies have admitted to wrongdoing and agreed to pay penalties totalling more than $49 million to settle US Securities and Exchange Commission charges.
The SEC said the charges wer…

Telecom newcomer, Paradise Mobile, has launched two roaming plans for its new mobile phone provider, designed for frequent travellers.
The company said: “Unlike competitors, Paradise Mobile eliminates…

Bala Nadarajah has been posthumously awarded the Fred Reiss Lifetime Achievement Award for 2024, honouring his remarkable career and contribution to Bermuda’s international insurance and reinsurance i…

Andreas von Reitzenstein has been appointed senior vice-president, Underwriting; in the Bermuda office of Chicago-headquartered Elementum, the alternative investment manager specialising in collateral…

Makari Mathias and Zyjaé Trott-Philip have been selected apprentices as part of the ASCEND School Leaver programme of Aspen Insurance Holdings Limited.
They will be supporting the reinsurance and insu…

ILS Bermuda continues to add to an impressive list of climate scientists for next month’s annual Convergence conference at the Hamilton Princess Hotel & Beach Club.
Kerry Emanuel, the meteorologis…