Royal Gazette

The Royal Gazette/BSX Index remained at 3,948.83 in the absence of trading on the Bermuda Stock Exchange.
Meanwhile, Butterfield Bank rose 88 cents or 1.41 per cent on the New York Stock Exchange to c…

Butterfield’s 2026 summer internship programme has concluded after providing ten Bermudian undergraduate students with experience in the world of finance.
Designed to introduce participants to the day…

The recent hard market periods that strengthened reinsurance capital to record levels could bring negative consequences, rating agency AM Best has surmised in a special report.
The unprecedented capit…

The Royal Gazette/BSX Index remained at 3,948.83 in the absence of trading on the Bermuda Stock Exchange.
Meanwhile Butterfield Bank rose 22 cents (0.36 per cent) on the New York Stock Exchange to clo…

Tom Ault has taken over as chief executive of the Bermudian-based global reinsurance arm of Legal & General Group.
He succeeds Amy Ellison, who has been CEO of Legal & General Reinsurance sinc…

A medical student has won the inaugural 2026 Allshores Postgraduate Scholarship, valued at $20,000.
Shani Tucker is the recipient of the new award that recognises a postgraduate student who demonstrat…

Banks could be prevented from hiking fees without government approval under proposed rules that would give the Minister of Finance broad new oversight of charges to consumers and local businesses.
The…

Assured Guaranty Ltd expects business at its new Bermudian-based annuity reinsurance platform to develop faster than the company first anticipated and perhaps require the group to commit more capital …

American International Group reported second-quarter results that surpassed Wall Street expectations, roughly two months after Eric Andersen took over as chief executive officer.
Strong underwriting b…

Essent Group Ltd reported a 7 per cent increase in quarterly profit as its expansion into property and casualty reinsurance drove a sharp rise in premiums.
The Bermudian-based mortgage re/insurer reco…

Allshores saw its second big trading day on the Bermuda Stock Exchange this week as $6.8 million worth of its stock traded on Friday. A total of 234,772 of the insurer’s shares changed hands as the pr…

There is a brand-new red carpet at the Red Carpet Restaurant on Reid Street, along with a host of other upgraded things — lighting, furniture and even some of the senior staff.
After more than a year …

Bill Ackman has laid out ambitious plans to build Bermudian-based Vantage into the centrepiece of parent group Howard Hughes Holdings, saying the insurer now has a “dream team” leadership.
The billion…

US insurance regulators are working towards implementing tighter capital standards that would apply to life insurance business ceded to reinsurers in the Cayman Islands.
The move, which applies to all…

A home-grown pet travel technology company has been named pet start-up of the year amid growing local use and even its first airline partnerships.
Bermudian-founded PadsPass, a digital platform aimed …

Hamilton Insurance Group posted second-quarter net income of nearly $144 million — down 23 per cent year over year.
The company produced a 21 per cent annualised return on average equity, a 95 per ce…

Choisel Murray, a seasoned captive insurance executive based in Bermuda, has been promoted to a global leadership role at Aon.
Ms Murray has been appointed global chief commercial officer for Aon Capt…

Bermuda-domiciled White Mountains Insurance Group earned second quarter 2026 net income of $199.5 million ($80.58 per share) on revenue of $844.6 million, up from $689.2 million in the same period las…

Assured Guaranty’s new annuity reinsurance operation recorded a $2 million quarterly profit as the group reported record per-share valuation measures at the halfway point of 2026.
The renamed Assured …

The Royal Gazette/BSX Index remained at 3,948.33 on the Bermuda Stock Exchange.
Only Allshores experienced trading with 1,077 shares changing hands to finish at $29, price unchanged. The turnover…

Athene has raised $1 billion through a senior debt offering, with some of the proceeds to support growth across its insurance subsidiaries.
The retirement-services group, whose Athene Life Re subsidia…

Canopius declined to renew several large Bermuda contracts during the first half of the year after deciding that the prices offered were too low.
The speciality re/insurer said it is still committed t…

Everest Group, the Bermudian-based global specialty reinsurer and insurer, is selling its business in Mexico to Fairfax Financial Holdings.
The sale of Compañía de Seguros Generales Everest México fol…

Most college students spend their freshman year adjusting to campus life; Bermuda resident Maxwell Totten spent it creating a video game company.
The Warwick Academy graduate was part of the team behi…

Vantage Group posted a $20 million profit for the second quarter — a 45 per cent year-over-year decrease, driven by war-related losses and adverse reserve development.
These were the first full-quarte…

Valaris returned to profit in the second quarter as it prepared to complete its $5.8 billion merger with Transocean before the end of the year.
The Bermudian-domiciled offshore drilling firm reported …

Axis Capital has agreed to acquire the renewal rights to Dual North America’s excess liability business to strengthen its casualty operations in the United States.
The transaction will give Axis, the …

DHT Holdings has reported a record-breaking six-month profit of $362.9 million, equivalent to $2.25 per share, breaking its 2020 record of $266.3 million.
The Bermudian-domiciled oil tanker operator f…

Hiscox has reported a 30 per cent increase in its insurance service result for the first half of the year as premium growth and better underwriting offset a steep decline in investment returns.
The Be…

More than $13.2 million worth of Allshores stock was traded on the Bermuda Stock Exchange today.
The insurer gained $1, or 3.6 per cent, to close on $29, as 455,494 shares changed hands.
With Allshore…

Stephen Weinstein’s new Florida insurer has been shortlisted for an industry publication’s 2026 Start-Up of the Year award.
The St Petersburg-based property insurer, Mangrove Property Insurance Compan…

US insurers have more than doubled their holdings of hard-to-value bonds over the past decade, with the life re/insurers spearheading the growth.
A new report from AM Best finds that the life sector a…

Beazley has soared past its early targets for property treaty business in Bermuda less than four months after it started underwriting from the island.
The specialist insurer said demand for the new o…

LOM Financial announced a three-year charitable partnership with the Sargasso Sea Commission, the non-governmental organisation dedicated to the conservation of the Sargasso Sea.
The Bermudian-based i…

Bermudian-based bond insurer Assured Guaranty and its operating subsidiaries have had their credit ratings affirmed by KBRA.
These include the insurance financial strength ratings of AA+ for Assured G…

Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets.
Issuance of cat bonds that include exposure to wildfires has already soared to more than …

Bermuda is on the verge of welcomed improvements in tourism numbers with the expected opening of the Fairmont Southampton in the months ahead.
But continued weaknesses in public transport brings conce…

In a recent column, I wrote that recruitment in Bermuda has become a competition to persuade already-employed people to leave jobs they are not desperate to leave. There is a quieter version of that s…

International General Insurance Holdings reported a 63 per cent fall in second-quarter earnings after seeing losses linked to the war in the Middle East.
The Bermuda-based speciality insurer posted se…

The Royal Gazette/BSX Index rose 184.22 points, or 4.91 per cent, on the Bermuda Stock Exchange to close at 3,939.03.
Butterfield Bank saw 5,200 shares trade, ending the day at $61.25, up $3.20 or 5.5…

Axis Capital has appointed Jennifer Davies as active underwriter for Axis Syndicate 1686.
Ms Davies will be responsible for overseeing all underwriting and related business activities of Syndicate 168…

Kevin Donovan is the new head of underwriting, property binders at The Fidelis Partnership.
Mr Donovan is now leading TFP’s delegated authority property business.
The firm said he brought with him a s…

Agam Capital and Sompo Life Re have entered into a multiyear service agreement to support the operations of a new, Bermuda-domiciled life-reinsurance platform.
Life Re engaged and collaborated with Ag…

Global bank HSBC Holdings announced net income of $10.1 billion for the second quarter.
The London-headquartered lender, which also operates one of Bermuda’s largest retail banks, said results were bo…

Goldman Sachs has partnered with Talcott Financial to set up a new reinsurance vehicle in Bermuda.
West Grove Re, the latest life insurance sidecar to set up on the island will take a share of Talcott…

A Bermudian investment company has lost a long-running tax dispute with UK tax authorities after a tribunal ruled that, despite being incorporated and administered in Bermuda, its central management a…

Fernando De Deus was left both sheepish and proud when the artificial intelligence agent he designed to protect his computer perceived him as the threat and locked him out.
The chief executive of ma…

Bermudian-based Athora is closing in on a deal to sell its German unit to Frankfurter Leben, the life insurance consolidator controlled by China’s Fosun International, people with knowledge of the pro…

Nissan’s Bermudian-based captive insurer has seen the outlook on its credit ratings lowered to negative from stable by AM Best after a five-year period in which the dividends it paid to its parent com…

Carey Olsen Bermuda is inviting law students, recent graduates, and anyone interested in pursuing a career in law to attend a student reception and open house on Tuesday 18 August 2026.
Attendees will…