Royal Gazette

When Azia Parris joined the Bermuda Economic Development Corporation’s vendor academy she was unsure if she would make it through the full course.
She was expecting her third child around the time tha…

Warwick Academy was declared the winner of KPMG’s annual Bermuda Senior School Investment Challenge for the second year in a row, at a special awards ceremony at City Hall.
The school’s Madoff with t…

The RG/BSX Index remained at 3,548.61 in the absence of trading on the Bermuda Stock Exchange.
Meanwhile, the US-listed shares of Butterfield Bank finished down 68 cents, or 1.17 per cent, on the New …

The Bermudian-based insurer formerly known as Fidelis Insurance Holdings has completed its rebranding to Pelagos Insurance Capital.
The legal name change to Pelagos is effective today. Shareholders ap…

Corporate income tax revenues was the rationale given by Moody’s Ratings as they upgraded Bermuda’s domestic- and foreign-currency long-term issuer and foreign-currency senior unsecured bond ratings t…

Entrepreneurs have the chance to win five grants of up to $25,000 each in the Wave of Opportunity Pitch Competition.
The Global Atlantic Re Foundation, in partnership with the Bermuda Economic Develop…

Bermuda’s fast-growing life reinsurance sector has caught the attention of the Trump Administration.
Scott Bessent, the US Treasury Secretary, met with insurance regulators to talk about the industry’…

Essent Group Ltd sought to reassure investors about the health of the United States housing market after its reinsurance segment posted a sharp increase in losses during the first quarter.
The Bermudi…

Technology consultants say that artificial intelligence has transitioned from experimentation to widespread, production-grade deployment, with over 50 per cent of major companies moving AI initiatives…

Assured Guaranty is directing more capital towards annuity reinsurance and alternative investments as it expands beyond its traditional bond insurance business, after reporting lower first-quarter ear…

Watlington Waterworks Ltd reported a bump in revenue in 2025 as rising costs and higher depreciation weighed on profits, according to audited financial statements filed by the company.
The utility and…

The Corporate Income Tax Agency has formally taken over responsibility for Bermuda’s economic substance and international tax compliance regimes as the island consolidates several key regulatory funct…

It is that time of year when health insurers look at their health book of business and start reviewing their clients to determine whether there will be any movement in the annual premium for the foll…

Dear Dave,
My wife and her siblings each inherited about $10,000 when their dad passed away. One of her siblings, who was named executor of the estate, told my wife that she plans to withhold the mone…

Butterfield Bank’s share price remained unchanged on $55 as 1,156 shares traded on the Bermuda Stock Exchange.
The Royal Gazette/BSX Index closed unchanged on 3,548.61 for the day, and up 0.77 per cen…

Cabinet has approved a framework to allow the Government of Bermuda to accept and invest in digital assets, within a clear regulatory structure.
The announcement was made by David Burt, the Premier an…

Global commodities trader Trafigura is considering moving a key holding company from the Netherlands to Bermuda, citing the island’s legal and political stability.
The company confirmed to The Royal …

Hiscox Ltd said it attracted about $1 billion in fresh third-party capital during the first quarter as the island’s insurance-linked securities and alternative capital market keeps expanding despite s…

As Bermuda insurers engage with third-party service providers to support their business functions, the Bermuda Monetary Authority has clarified its regulatory expectations surrounding outsourcing arr…

Cabinet has approved a framework to allow the Government of Bermuda to accept and invest in digital assets, within a clear regulatory structure.
The announcement was made by David Burt, the Premier an…

White Mountains Insurance Group slipped to a first-quarter loss as a fall in the value of its MediaAlpha investment outweighed solid operating results across parts of the Bermuda-based financial servi…

Calidris Investment Partners has appointed three new team members as the firm expands its insurance-focused investment platform.
The Bermudian-based investment manager announced that James Larner has …

Bermudian-based specialty insurer SiriusPoint reported first-quarter net income of $100 million, up from $58 million in the corresponding period of 2025.
The increase was driven by lower catastrophe l…

SailGP has announced a partnership with Butterfield and Mastercard for this weekend’s Apex Group Bermuda Sail Grand Prix.
The partnership names Butterfield and Mastercard as the event’s official payme…

A newly released road map to improve local entrepreneurship includes the possibility of a boutique, hurricane-resistant, sustainable data centre on the island.
Sustainable, or green data centres, are …

Coinbase has announced it will let go 700 staff — 14 per cent of its global workforce — as it rebuilds to became “lean, fast and AI-native”.
Brian Armstrong, the crypto exchange’s chief executive, cit…

The Bermuda Business Development Agency continued the island’s longstanding relationship with the world’s leading association of risk managers this week, during Riskworld in Philadelphia.
Top executiv…

Bermudian-based Gold Reserve Ltd has announced plans to spin out its mining interests into a new American-domiciled company focused on critical mineral development in the western hemisphere.
The comp…

Global reinsurers, including several major Bermuda market players, appear capable of withstanding increasingly severe climate-related catastrophe losses without widespread ratings pressure, according …

Hamilton Insurance Group has added a veteran insurance executive to its board of directors.
The Bermudian-headquartered re/insurer announced that Peter Wilson was elected to the board at the company’s…

Henry Klehm III has been appointed non-executive chairman of RenaissanceRe’s board of directors, the Bermudian-based reinsurer announced.
He will succeed James Gibbons in the role. Mr Gibbons will con…

The Royal Gazette/BSX Index remained unchanged on 3,548.71 as no shares traded on the Bermuda Stock Exchange today.
Butterfield Bank’s US-listed shares gained 35 cents, or 0.63 per cent, to close at $…

Kin Insurance, the direct-to-consumer digital home insurance provider, said it has successfully completed its largest-ever catastrophe bond: a transaction through Hestia Re Ltd (Series 2026-1) totalli…

Longtime regional Deloitte chief executive and Bermuda office managing partner John Johnston has announced his retirement.
Ann Burns will assume the role of regional CEO at the professional services …

Huntley Septimus opened Reggae Soca Spice on the North Shore in Devonshire with little fanfare, wanting to really get a feel for what people wanted.
As it turned out, what they really wanted was his j…

The world’s geopolitical instability has upset earlier forecasts of economic growth, a Schroders market analysis has observed.
The change has fundamentally altered monetary expectations, with investor…

A Bermuda delegation led by Premier David Burt will attend Consensus 2026, the largest annual gathering for the digital assets industry.
The event, organised by CoinDesk and held in Miami from May 5 t…

Eleven businesses and 13 entrepreneurs graduated from the Bermuda Economic Development Corporation’s inaugural Vendor Academy.
Delivered weekly from March 17 to April 28, the Vendor Academy was design…

The Royal Gazette/BSX Index rose 27.43 points or 0.78 per cent to close at 3,548.71.
Only Allshores was active on the Bermuda Stock Exchange with 2,800 shares changing hands to end the day at $24.80, …

International General Insurance Holdings Ltd reported a fall in first-quarter profits as it sustained losses related to the war in the Middle East.
The Bermudian-based specialty insurer and reinsurer …

Bermuda current-account surplus widened to $609 million in the fourth quarter of 2025, an increase of more than 50 per cent year over year.
The surplus shows Bermuda is earning more from the rest of t…

A new Bermuda life reinsurer set up by an Australian investment and retirement income giant has been assigned a financial strength rating of A- (excellent) by AM Best.
Calix Re is a Class E Bermuda re…

Growing use of asset-intensive reinsurance is one of the factors changing the credit risk profile of the US life and annuity sector, according to a new report by ratings agency AM Best.
Booming annuit…

The Bermuda Union of Teachers has expressed “serious concerns” about the conduct of Crystal Caesar, the Minister of Education, in a reported student disciplinary matter that resulted in a PE teacher b…

S&P Global Ratings improved its outlook on Bermuda’s government debt rating to positive from stable — highlighting that corporate income tax revenues improving the island’s public finances.
The r…

Valaris Limited reported a first-quarter 2026 net loss of $18 million as the Bermudian-domiciled offshore drilling company faced lower operating activity and higher costs tied to ongoing conflicts in …

The Urban Development Authority, in partnership with the Bermuda Economic Development Corporation, has rebranded its annual development conference to the Bermuda Urban Infrastructure and Land Developm…

Registration is now open for the 2026 Athene Life Career Expo, a free event designed to introduce students, recent graduates and career shifters to opportunities in Bermuda’s life re/insurance industr…

One thousand shares of Butterfield Bank traded on the Bermuda Stock Exchange today, but the bank’s price remained unchanged on $55.
The Royal Gazette/BSX Index was also unchanged on 3,521.27.
Meanwhil…

Bermuda may be carving out a pioneering role in developing a workforce fit for purpose with artificial intelligence.
This is the view of an AI educator who has been engaged by the government to provid…