Business

The Bermuda Monetary Authority has launched a discussion paper seeking stakeholder feedback on potential new banking models, with a closing date of August 1st, 2026. The paper states, “This Discussion Paper represents the initial step towards a comprehensive proposal to enhance Bermuda’s banking industry and seeks to engage stakeholders by highlighting potential new banking models that …

Seadrill Limited shareholders approved all resolutions presented at the company’s 2026 Annual General Meeting in Bermuda, including the re-election of nine directors, the appointment of auditors, executive compensation measures, and an amendment to the company’s management incentive plan. A spokesperson said, “Seadrill Limited today announced the 2026 Annual General Meeting of the Shareholders of the …

June 3 saw 2,021 shares trade on the Bermuda Stock Exchange, valued at $48,504.00 BD. 2,021 shares were traded by Allshores Limited, closing even at $24.00 per share. The BSX finished at 3,598.44, even on the day. There were 0 advances, 0 declines, and 47 remained unchanged. The full report for the day is available …

An AI Sales Lab: Cup Match Edition workshop will be held this Friday [June 5] at the Bermuda Chamber of Commerce and is “designed to give entrepreneurs, creatives, and retail businesses the modern tech tools they need to convert holiday buzz into year-round revenue.” A spokesperson said, “Cup Match is about more than cricket, camp …

Paradise Mobile has wrapped up its Heritage Month Art Showcase at its 24 Reid Street store, featuring 22 local artists under the “For de Culture” theme. A spokesperson said “Paradise Mobile has successfully wrapped up its Heritage Month Art Showcase at its 24 Reid Street flagship store. The exhibition featured 22 local artists celebrating the …

PwC Bermuda announced a multi-year commitment to the Living Reefs Foundation, a local marine conservation organization dedicated to protecting and restoring Bermuda’s critical coral reef ecosystems. A spokesperson said, “The support consists of assurance service hours annually for five years and $60,000 in financial support for the Foundation’s Coral Garden initiative, including the development of …

Convex Group Limited announced the launch of Kinetic Insurance Services, a wholly owned, technology-enabled Managing General Agency [MGA] which will start trading in Q4 2026. A spokesperson said, “The MGA has received FCA regulatory approval and will be led by Theo Butt, former CEO of Convex Insurance UK LTD. Anne Middleton has taken over as …

Effective June 1st 2026, Mereo Insurance Ltd has commenced underwriting the first Excess Casualty Energy policies under a renewal rights transaction undertaken between Everen and Cedar Trace, the insurance, reinsurance, and asset management group that is strategically aligned with Mereo. A spokesperson said, “Under the transaction, ESL’s underwriting team and underwriting systems supporting the portfolio …

Arch Capital Group Ltd. announced the pricing of a $2 billion senior notes offering, with proceeds earmarked for debt retirement, tender offers, and general corporate purposes ahead of its expected June 9 closing. The company said, “Arch Capital Group Ltd. [NASDAQ: ACGL] [“Arch” or the “Company”] announced today the pricing of its offering of $600,000,000 …

June 2 saw 5,756 shares trade on the Bermuda Stock Exchange, valued at $322,336.00 BD. 5,756 shares were traded by Bank of N.T. Butterfield Ltd, closing up 1.8% at $56.00 per share. The BSX finished at 3,598.44, up 1.63% on the day. There was 1 advance, 0 declines, and 46 remained unchanged. The full report …

Pinnacle Actuarial Resources, Inc. announced that it has acquired Bermuda-based Ordinance Holdings Limited and the renewal rights for clients of Canadian firm Grape Bay Actuarial Consulting Inc, effective June 30, 2026. A spokesperson said, “Ordinance, located in Hamilton, Bermuda, provides actuarial consulting services to insurance, reinsurance, captive insurance and segregated accounts companies. Grape Bay is …

Trebuchet Group Holdings Limited announced the appointment of Heather Bisbee as Group Finance Director. A spokesperson said, “Trebuchet Group Holdings Limited is pleased to announce the appointment of Heather Bisbee as Group Finance Director, effective 13th April 2026. “Heather is an experienced senior financial manager with high-level experience in the re/insurance industry in both regulatory …

Bermuda Is Love announced the launch of its 2026 Summer Internship Programme, a paid two-week internship designed to provide young people with hands-on experience in social justice, human rights, and community advocacy. A spokesperson said, “The programme will take place from July 13–24, 2026, at the Bermuda Is Love Law Office located at 38 Union …

Navium Marine, the marine-focused specialty MGA operating through The Fidelis Partnership’s Pine Walk platform, has partnered with Overhaul, a provider of global cargo risk management, to launch a “first-of-its-kind insurance solution built on real-time visibility of AI infrastructure cargo.” A spokesperson said, “The Helix Consortium connects Overhaul’s cargo risk management technology with the world’s leading …

Beazley announced that Stefan Wunderlich has been appointed Head of Alternative Risk Transfer [ART] alongside his existing role as Head of Parametric. A spokesperson said, “Beazley, the leading specialty insurer, today announces that Stefan Wunderlich has been appointed Head of Alternative Risk Transfer [ART] alongside his existing role of Head of Parametric and will be …

The Bank of Butterfield repurchased 134,043 common shares for cancellation in May 2026 at an average price of $55.79. 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 repurchased for cancellation 134,043 common shares at …

AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings of “aa-” [Superior] of the operating affiliates of Allied World Assurance Company Holdings, Ltd.’s [Allied World Holdings] [Bermuda], collectively referred to as Allied World. Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” [Excellent] of Allied World …

The Bermuda Airport Authority’s 2023-2024 Annual Report, which highlighted increased air connections, the launch of BermudAir and continued recovery in passenger arrivals, was presented in the House of Assembly on Friday [May 29]. Lawrence Scott, Chairman Bermuda Airport Authority, said, “The Bermuda Airport Authority’s vision and mission is to connect Bermuda to the world by …

Carnival Corporation has begun notifying individuals whose personal data was affected by the cybersecurity incident, with the cruise ship giant noting that “an unauthorized actor used social engineering to deceive an employee to gain access to a limited portion of the company’s IT system.” A spokesperson said “Carnival Corporation today announced that notification letters have …

A New York Times report on taxes has stated that some companies avoided taxes “by attributing hundreds of billions of dollars in earnings to low- or no-tax jurisdictions such as Cyprus, Bermuda, Switzerland, and the Cayman Islands.” The New York Times report said, “A year ago, the Trump administration withdrew from a global effort to …

ShaMaran Petroleum Ltd said they have “completed their previously announced corporate continuance from Canada to Bermuda.” A spokesperson said, “The Company’s shares have been delisted from the TSX Venture Exchange in Toronto [TSXV] and are expected to begin trading under ticker symbol ‘SNM’ on the Euronext Growth Oslo market [EGO] operated by the Oslo Stock …

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday, May 30th. On Saturday the Norwegian Jewel and the Vision of the Seas cruise ships are expected, on Monday the Oleander container ship, the Norwegian Aqua and the Independence of the Seas cruise ships will arrive, …

Bermuda Skyport Corporation Limited is inviting local food vendors to sign up by July 31 for the Safety & Wellness Expo on October 6. A spokesperson said, “Calling all local food vendors — join us on October 6 at the Safety & Wellness Expo. “Senior school students, airport stakeholders, and the public will be onsite …

The Government intends to purchase the Compass Point Building on Bermudiana Road, Minister of Public Works and Environment Jache Adams said, adding that the building “provides over 81,000 square feet of structurally sound office space” and the negotiated purchase price is $14.5 million. Speaking in the House of Assembly today [May 29] the Minister said, “I …