Royal Gazette

The Department of Workforce Development is reintroducing its AI Education Series 2026, featuring artificial intelligence expert and educator Amrita Bhalla of AB Consulting.
The virtual training initia…

Allshores recorded underlying earnings from operations of $62.4 million for 2025 — the insurer’s first financial year since the business was formed by the amalgamation of BF&M and Argus.
Operatin…

The outlook on Bermuda’s long-term credit ratings has been revised upward by KBRA, to positive from stable.
The ratings agency also affirmed the island’s long-term issuer ratings of A+ for Bermuda and…

Nabors Industries posted a first-quarter net loss of $15 million attributable to shareholders, a reversal from $10 million in net income recorded in the previous quarter.
Despite the loss, the Bermudi…

Arch Capital recorded first-quarter earnings of $1 billion — nearly double the $564 million the company logged in the corresponding period of 2025.
The profit broke down to $2.88 per share, representi…

Bermuda-based reinsurer RenaissanceRe reported a sharp recovery in profitability for the first quarter of 2026, benefiting from a benign catastrophe environment and robust underwriting performance.
Th…

Butterfield today announced first-quarter net income of $62.6 million – up more than 16 per cent year over year.
Michael Collins, Butterfield’s chairman and chief executive officer, also signalled tha…

Specialist managing general agent Banyan Risk has hired industry veteran Dan Malloy to help drive its next phase of growth as its new executive managing director.
A long‑standing contributor to Banyan…

The Royal Gazette/BSX Index remained at 3,540.87 in the absence of trading on the Bermuda Stock Exchange.
Meanwhile Butterfield rose 29 cents, or 0.52 per cent, on the New York Stock Exchange to close…

Conduit Holdings’ chief financial officer and executive director has announced her intention to retire.
Elaine Whelan will continue serving in her current roles to ensure a smooth transition until sh…

LOM Financial announced full-year 2025 profits of $4.77 million, or 97 cents a share, largely unchanged from 2024, and representing a 10 per cent net return on equity.
The investment firm reported tha…

It was word of mouth that led to the incorporation of the latest Bermuda insurer aimed at providing solutions for the rapidly developing space economy.
Space engineers and insurance executives anticip…

Erkin Atakhanov set up an accounting firm in Bermuda to take advantage of what he saw as a bottleneck in the market.
“The service cost in Bermuda for captives and insurance companies is increasing,” h…

Analysts at Fitch Ratings see accelerating softening of rates impacting the results of a group of five Bermudian-based re/insurers.
In a peer credit analysis featuring Arch Capital, Ascot, Hamilton, R…

Often when we think about cybersecurity threats, we tend to think of sophisticated attacks carried out by highly skilled, well-resourced hackers. But most incidents, in fact, begin closer to home, ex…

A man was arrested on Monday morning after being involved in a collision that left a car on its side.
The Bermuda Police Service said that officers responded to a two-car crash at the roundabout conne…

American Overseas Group Ltd, the Bermudian-based insurance group, reported full-year consolidated net income of $10.8 million for 2025, up from $9.4 million a year earlier.
In the fourth quarter, the …

The Royal Gazette/BSX Index closed unchanged on 3,540.87 on a day of no trading activity on the Bermuda Stock Exchange today.
The US-listed shares of Butterfield Bank edged lower by three cents, or 0….

PartnerRe has announced the retirement of James Beedle, the chief executive officer of its Asia Pacific unit.
Mr Beedle served in the role for nearly a decade. The Bermudian-based reinsurer has appoin…

The Bermuda Economic Development Corporation (BEDC) is now accepting applications for the eighth cohort of its Enterprise Bermuda Incubator programme.
Designed to support local entrepreneurs and small…

Six out of ten insurers expect artificial intelligence to significantly transform their business models within the next one to three years, according to a survey by AM Best.
Around two thirds of respo…

Chubb chairman and chief executive Evan Greenberg has warned that artificial intelligence is fuelling an “arms race” in cyber-risk while at the same time reshaping how insurance is distributed, partic…

Employers should play their part in helping staff who are victims of domestic abuse, as it is both a safety and productivity issue, according to the Centre Against Abuse.
The charity is rolling out th…

Karen Beadle has joined Aon’s captive management office in Bermuda after more than five years at Granite Management Ltd.
After more than two decades in the captive insurance industry, the experienced …

A new strategic partnership between Agam Capital and 1823 Partners is set to offer global insurers an integrated balance sheet and investment solution, with links to Bermuda’s reinsurance market and r…

Recent amendments to Bermuda’s economic substance regime have transferred regulatory responsibility from the Registrar of Companies to the Corporate Income Tax Agency.
The Economic Substance Amendment…

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A controversial former Central Intelligence Agency director will speak at a Bermuda reinsurance conference later this year.
The highly decorated four-star US Army general, who once commanded forces in…

Dear Dave,
My husband and I are 38 years old. We’re completely debt-free, we each have great jobs with honest, conscientious companies, and we’re doing very well financially.
We tithe regularly to ou…

I was recently catching up with a friend over coffee, and she brought up how expensive everything has become and how she is not saving as much as she used to. Which, let’s face it, is something many …

Butterfield Bank slid 1.8 per cent on the Bermuda Stock Exchange today as 501 shares traded. The bank closed at $55.
The Royal Gazette/BSX Index fell 57.57 points, or 1.6 per cent, to close on 3,540.8…

A panel featuring politicians, business leaders and economists agreed that geopolitical turbulence is driving multiple challenges for Bermuda, while offering differing views on what to do about it.
Th…

Global business is entering what KPMG’s Stefano Moritsch calls a “geopolitical recession.” The changing rules of globalisation are driving companies to seek out stable, sophisticated jurisdictions whe…

The RG/BSX Index ended the day unchanged at 3,598.44 points in the absence of trading on the Bermuda Stock Exchange.
Meanwhile Butterfield Bank finished at $56.28 on the New York Stock Exchange, up 66…

A London-based company has built a specialty managing general agent developing parametric insurance products for space-related risks.
Orbway Group said it combines ground-based measurements, orbital …

Global commercial insurance rates declined for a seventh consecutive quarter in the first three months of 2026, as strong capital levels and rising competition continued to soften market conditions, a…

Evan Greenberg has warned that today’s softening property market is “structurally” different from past cycles, pointing the finger at MGA volume incentives, alternative capital and a longer chain of i…

Carnival has received shareholder approval for its corporate restructuring and the company’s redomiciliation to Bermuda – paving the way for another cruise line giant to move to the island.
Norwegian …

BermudAir is striving to stay nimble in the face of a jet fuel crisis that it sees bringing both challenges and opportunities.
The boutique Bermudian airline told The Royal Gazette it is closely moni…

Acrisure Re has brought its capital and captives division into its reinsurance business, bringing together more than 275 specialists across North America and Bermuda.
The move creates a new division, …

Evan Greenberg, chairman and chief executive of Chubb, has added fresh detail on the United States‑backed Gulf shipping insurance facility, confirming that the programme is built around future US nava…

David Burt, the Premier and Minister of Finance, has signed a protocol amending the Double Taxation Agreement between Bermuda and Bahrain.
The protocol was signed on April 17 on the sidelines of the 2…

Carey Olsen is pleased to announce that Nicole Cavanagh has joined the firm’s dispute resolution and litigation practice in Bermuda as counsel.
Ms Cavanagh’s practice covers the full spectrum of matri…

David Gibbons, has been appointed as the incoming chief executive officer of the network of PwC firms operating in the Caribbean, effective July 1, 2026, the firm announced today.
Mr Gibbons, a partne…

When Lana Bull started dress alteration business The Atelier out of her home, she had to first throw her husband and son out of their man cave in the basement.
There were some grumbles, but they went….

Bermuda has an untapped pool of talent that could strengthen the competitive advantage of the island’s re/insurance industry, according to a young actuary.
Busayo Salawu, 25, an actuarial analyst at l…

The Cayman Islands has officially launched its bid for qualified jurisdiction status, a key US regulatory recognition.
André Ebanks, Cayman’s Premier and Minister for Financial Services, announced las…

Chubb reported first-quarter net income of $2.32 billion, or $5.88 per share — up 74 per cent on the same period of 2025, driven by lower catastrophe losses and strong premium growth.
Gross premiums w…

The Royal Gazette/BSX Index closed unchanged on 3,598.44 today after a day of no trading activity.
Meanwhile, Butterfield Bank’s US-listed shares fell by 54 cents, or 0.96 per cent, to close at $55.69…

The long-term issuer credit and financial strength ratings on the core insurance operating subsidiaries of the global underwriter, SiriusPoint Ltd, have been upgraded to ‘A’ from ‘A-‘, by S&P Glob…