Business

AM Best affirmed and withdrew NEWGT Reinsurance Company’s A- and “a-” ratings after the company requested to leave its rating process. The ratings agency said, “AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” [Excellent] of NEWGT Reinsurance Company, Ltd. [NEWGT] [Bermuda]. The outlook of …

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” [Excellent] of Peak Reinsurance Company Limited [Peak Re] [Hong Kong] and its subsidiaries, Peak Reinsurance AG [Switzerland] and Peak Reinsurance North America Ltd. [Bermuda] and said the outlook of these Credit Ratings is stable. A statement from …

The Office of the Tax Commissioner advised that “effective 1 October 2026, the recharge fee applied to Payroll Tax payments made by credit or debit card will increase from 1.5% to 2.5%.” A Government spokesperson said, “The increase to 2.5% aligns the recharge fee more closely with the actual charges imposed by the Government’s banking …

AM Best affirmed AXIS Capital’s A [Excellent] and “a+” [Excellent] ratings, with a stable outlook, citing its strong balance sheet and favorable business profile. The ratings agency said, “AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Ratings of “a+” [Excellent] of the operating subsidiaries of AXIS Capital …

AM Best has affirmed the Financial Strength Rating of B++ [Good] and the Long-Term Issuer Credit Rating of “bbb+” [Good] of AVLA Re Ltd. [AVLA Re] [Bermuda]. The ratings agency said, “The outlook of these Credit Ratings is stable. The ratings reflect AVLA Re’s balance sheet strength, which AM Best assesses as strong, as well as …

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday, September 5th. On Saturday the Norwegian Aqua cruise ship is expected, on Sunday the Cielo di New York discharge ship and the Oleander container ship will arrive, and on Monday the Vision of the Seas cruise …

Watlington Waterworks Limited reported net income of $1.13 million for the first six months of 2026, compared with $2.0 million for the corresponding period in 2025. Earnings per share were $1.03, compared with $1.84 in 2025. The filing with the BSX stated, “The Metered Water Division sold 100 million gallons [MG] during the first six …

September 4 saw 2,200 shares trade on the Bermuda Stock Exchange, valued at $128,260.00 BD. 2,200 shares were traded by Bank of N.T. Butterfield Ltd, closing down 2.0% at $58.30 per share. The BSX finished at 3,759.40, down 1.80% on the day. There were 0 advances, 1 decline, and 42 remained unchanged. The full report …

Conduit Re has announced three senior appointments, confirming that Aaron Coates has been appointed head of property, Mark Mitchell head of US property and Dacotah Baksh has been appointed property underwriter. A spokesperson said, “Conduit Holdings Limited, the ultimate parent company of Conduit Re, a Bermuda-based multi-line reinsurance business, is pleased to announce three senior …

Aspida Holdings has appointed Brian Lewis as Chief Financial Officer of Aspida Life Re Ltd., bringing more than 13 years of reinsurance finance, capital management and regulatory reporting experience to the Bermuda-based platform. A spokesperson said, “Aspida Holdings Ltd. today announced the appointment of Brian Lewis as Chief Financial Officer of Aspida Life Re Ltd. …

September 3 saw 1,000 shares trade on the Bermuda Stock Exchange, valued at $59,500.00 BD. 1,000 shares were traded by Bank of N.T. Butterfield Ltd, closing up 2.1% at $59.50 per share. The BSX finished at 3,828.49, up 1.92% on the day. There was 1 advance, 0 declines, and 42 remained unchanged. The full report …

Triangle Eight Group, the integrated professional services group for the [re]insurance industry, celebrates its first anniversary in business today. A spokesperson said, “The anniversary comes as new figures underline the market the Group was built to serve: more than 35 new insurers registered by the Bermuda Monetary Authority so far this year, on pace for …

Africa Specialty Risks [ASR], the developing markets-focused [re]insurance group, announced that Moody’s Ratings has upgraded ASR Re Limited’s Insurance Financial Strength Rating to ‘A3’ from ‘Baa1’. The outlook for this rating is Stable. Mikir Shah, Chief Executive Officer, commented: “We are delighted that Moody’s has upgraded ASR Re to an A3 rating. This upgrade recognises …

September 2 saw 2,000 shares trade on the Bermuda Stock Exchange, valued at $116,500.00 BD. 2,000 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.1% at $58.25 per share. The BSX finished at 3,756.52, up 0.08% on the day. There was 1 advance, 0 declines, and 42 remained unchanged. The full report …

The Fidelis Partnership [TFP] today announced the appointments of Helen Wilson as Reinsurance Chief Underwriting Officer*, and Sarah Ching as Senior Underwriter, International Property. A spokesperson said, “These appointments further strengthen TFP’s underwriting capability and leadership in Bermuda and support the continued growth of its footprint on the island. Over the last 18 months, TFP …

The Bank of N.T. Butterfield & Son Limited did not repurchase any common shares during August 2026. The filing with the BSX stated, “The Bank of N.T. Butterfield & Son Limited informs the Bermuda Stock Exchange that pursuant to Regulation 6.44 of the Bermuda Stock Exchange Listing Regulations, the company did not repurchase any common …

September 1 saw 535 shares trade on the Bermuda Stock Exchange, valued at $31,135.25 BD. 535 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.1% at $58.20 per share. The BSX finished at 3,753.65, up 0.08% on the day. There was 1 advance, 0 declines, and 42 remained unchanged. The full report …