Royal Gazette

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…

Bermuda’s financial regulator has released details on why it decided to indefinitely bar Joakim Samuelsson from holding senior roles in the island’s insurance industry.
In a statement, the Bermuda Mon…

Bermudian entrepreneur Dwayne Trott has a solution to the island’s overcrowding — build on the water.
The owner of Clean Energy Solutions, is working on a project that could create new sea homes, fre…

Michael Dickinson is the new AIG senior financial lines underwriting manager.
In a post on LinkedIn, the firm said Mr Dickinson brought more than 15 years of experience in building, managing and profi…

Dennis Tucker is retiring from the boards of LOM Financial Ltd after nine years of “distinguished service” the financial services firm said today.
The company said: “Mr Dennis Tucker joined the boards…

The Bermuda Economic Development Corporation is hosting a free webinar on alternative paths to homeownership and long-term housing stability.
The speaker will be Peter Dean, director of National Co-op…

Three-quarters of economic gains from artificial intelligence are being captured by just 20 per cent of top companies, creating a widening division at the top of the corporate world.
The insurance ind…

American purchases originating from the Far East will continue to face steep freight rates, as the market is sending mixed signals, according to the Xeneta, the ocean and air freight rate analytics pl…

Price Forbes Re has appointed Erik Matson, a veteran reinsurance executive, as a senior adviser, as the firm looks to strengthen its position in the American market.
The company said Mr Matson would d…

Dear Dave,
I’ll be graduating college in May with a degree in elementary education. I’ll have a job at a local school waiting for me, and this will be the first time in my life I’ve made more than min…

I have recently come across a couple of articles about the Fire movement, which gained significant traction around 16 years ago. Fire stands for “financial independence, retire early”, emphasising agg…

The RG/BSX Index rose 0.13 (0 per cent) to 3,598.34 today as two issues traded on the Bermuda Stock Exchange, today, and up 118.78 (3.3 per cent) for the week.
Bank of Butterfield was up $2 (3.7 per c…

Marsh has announced a series of promotions and new hires in Bermuda, as the global risk and insurance broker strengthens its local operations.
The company said four employees had been promoted across …

Bermuda is shoring up its position at the centre of the global insurance-linked securities market, with fresh data showing a steady surge in alternative capital and a pipeline of new structures into 2…

S&P Global Ratings has upgraded its outlook on Butterfield Bank’s BBB+ long-term credit rating to stable from negative, based on the bank’s improving capital profile and Bermuda’s improving econom…

Back in 2006, the Bermuda Monetary Authority had just 37 staff, overseeing the island’s entire financial sector, including an international re/insurance sector growing fast with a wave of post-Hurrica…

Bermuda’s Entrepreneur of the Year, Kyle Swan, believes the island is missing an opportunity to weave fireworks displays into community events, tourism initiatives, calendar and holiday celebrations.
…

International and offshore law firm Ogier and Bermudian-based MJM have entered into an alliance to better support clients with cross-border matters.
This will enable the two firms to offer co-ordinate…

Global insured losses reached about $114 billion through the first three quarters of 2025 despite a relatively quiet third quarter, pointing to the growing influence of secondary perils on the re/insu…

Conyers has appointed David Stubbs as head of listing services within its Bermuda corporate practice, as the firm looks to strengthen its capital markets and securities offering on the Bermuda Stock E…

The Royal Gazette/BSX Index jumped 3.51 points, or 0.1 per cent, to close at 3,598.21.
The Bermuda Stock Exchange had an active day with three stocks experiencing trading. Turnover was $59,400.
Two-th…

SiriusPoint Ltd, the Bermudian-based re/insurer, has received a credit rating upgrade from AM Best after improvements to its balance sheet and risk profile.
The agency upgraded the financial strength…

Two Bermudian-headquartered companies have joined forces to create exit options for investors in insurance-linked securities, providing a solution for the longstanding issue of trapped capital.
Enstar…

As Bermuda prepares to welcome some 600,000 cruise ship passengers to the island this year, Dockyard is preparing to entertain them.
At yesterday’s Dockyard Insider Summit, hosted by the Bermuda Land …

Importers have received notice of another increase in shipping costs as a result of rising fuel prices, driven by conflict in the Middle East.
Bermuda International Shipping, which operates the Bermud…

A local entrepreneur has entered a memorandum of understanding with the Bermuda Land Management Corporation with the view of building sustainable housing at Southside, St David’s.
In January, Dwayne T…

Bermuda has climbed 23 places in the latest Global Financial Centres Index to become one of the highest-ranked offshore financial centres globally even as overall feelings towards the sector weakened….

Global real estate adviser Margaret Young has advanced one potential solution in the search for answers to the problems that beset Bermuda housing.
She does not see it as the sole answer to the comple…

Bermudian-based Meritus Trust Company has welcomed Ryan Tyrrell and Danute Rico Slotkus to their team.
Mr Tyrrell is now senior trust administrator at the firm while Ms Slotkus has been made senior tr…

The Royal Gazette/BSX Index closed unchanged at 3,594.70.
Allshores traded 600 shares on the Bermuda Stock Exchange to close at $23.99 with the price remaining steady.
The turnover for the day was $14…