Royal Gazette

The Bermuda-based property and casualty runoff reinsurer, Xitus Re Ltd has extended the INTX Re/Insurance Operating System across growing runoff portfolios, transaction structures and jurisdictions.
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Wilton Re will form Windsor Life Re, a United States and Bermuda-domiciled affiliated reinsurer supported by long-term strategic capital commitments from Wilton Re and Sun Life Financial Inc.
The rei…

The visit to Bermuda last year by Florida governor Ron DeSantis to meet with Bermuda’s reinsurance community was a pivotal event for Florida homeowners, during the return of orderly renewals that this…

Laura Kearns has been made a partner in the trusts and private wealth department at law firm Carey Olsen in Bermuda.
Ms Kearns’ practice covers all aspects of trust law.
She advises both trustees an…

Law firm Appleby has welcomed Michael Thom (senior associate) and Charles Hambling (associate) to its property and corporate practices, respectively.
Mr Thom specialises in high-value commercial and …

HSBC Bermuda is rolling out a new fleet of automatic teller machines across the island.
The bank said the new technology represented a significant investment in enhancing customers’ everyday banking e…

The RG/BSX Index closed down 0.98 (0.03 per cent) at 3,857.27, after 1,200 Allshores shares traded for a turnover of $32,510. Allshores finished at $27, down 10 cents or 0.4 per cent.
Butterfield Bank…

The Bermuda Monetary Authority has introduced an approval in principle (AIP) process designed to support the more efficient establishment of new investment funds that are proposed to be registered or …

Wild weather over the weekend stirred up captivating phenomena on both ends of the island.
A cloudburst as thunder brewed to the island’s north generated a striking vortex lasting several minutes in t…

Bermuda representatives will join Caribbean countries in Miami for the 1st KPMG Caribbean Healthcare Summit, CariHealth 2026, a new annual summit dedicated to advancing health system delivery, investm…

Conduit Holdings has appointed Anthony Mongiello as chief operating officer of its Bermudian-based reinsurer, Conduit Re.
Mr Mongiello, whose appointment is subject to Bermuda immigration approval, su…

AM Best has assigned InEvo Re Ltd, the Bermudian-based Class E reinsurer owned by Macquarie Group, a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent…

The Royal Gazette/BSX Index held at 3,858.25 on the Bermuda Stock Exchange in the absence of any trading.
Butterfield Bank fell five cents, or 0.09 per cent, on the New York Stock Exchange to close at…

Flex LNG reported a sharp increase in second-quarter earnings as strife in the Middle East created more lucrative chartering opportunities for the carrier owner’s two spot-exposed vessels.
Vessel oper…

A story in today’s newspaper incorrectly stated that the stock price of the Bank of Butterfield fell 10.68 per cent on the New York Stock Exchange yesterday. In fact the price declined by 0.68 per cen…

The Royal Gazette/BSX Index held at 3,858.26 on the Bermuda Stock Exchange.
Devonshire Industries saw 50 shares change hands, ending the day price unchanged at $4.30.
Sixty-three Bermuda Press (Holdin…

On one particularly hot morning at Tree Tops II Preschool in Southampton, a dinosaur bath was happening on the playground.
The children excavated a small depression in the ground, filled it with soapy…

Bermudian-based aviation service Private Jet Club is partnering with the PGA Tour’s Butterfield Bermuda Championship, providing a group charter for 200 visiting professional golfers and their support …

Bermuda’s leading reinsurers reported exceptionally strong underwriting results in the first half of the year, helped by lower catastrophe losses, although a credit ratings agency warned that more com…

Viking Holdings reported second-quarter net income of $587.7 million, up 33.8 per cent from a year earlier, as fleet growth and higher revenue per passenger cruise day lifted results.
Revenue rose 16….

The Royal Gazette/BSX Index held at 3,858.26 on the Bermuda Stock Exchange.
Devonshire Industries saw 50 shares change hands, ending the day price unchanged at $4.30.
Sixty-three Bermuda Press shares …

Transocean has announced a two-year binding letter of award for the Dhirubhai Deepwater KG2 drillship with the Oil and Natural Gas Corporation, India’s largest government-owned oil and gas explorer an…

Aegon has reported net income of €608 million (around $710.2 million) during the first half of the year compared to €606 million for the same period last year.
The operating result was €804 million, u…

BermudAir is expanding its new Turks and Caicos network with twice-weekly non-stop flights between Newark and South Caicos from December 20.
The Bermudian-based airline said the seasonal service, subj…

Duncan Russell will step down from the role of chief financial officer at Aegon, ahead of the firm’s planned move of its head office and legal seat to the United States.
The company announced that M…

Arch Insurance International has promoted Roger Moniz to head of transactional risk.
Mr Moniz is now responsible for growing Arch’s transactional risk portfolio, which provides coverage for representa…

Bermuda is still the leading offshore domicile in life reinsurance but AM Best says it shed market share in 2025 while Cayman’s share increased, driven by new sidecars from the United States.
The rati…

A former Long Island pizza truck is helping to fill a void in the Warwick ice cream market.
Petrol station owner Teddy Terceira has opened I Scream, a new cold treat business, on a grassy patch dire…

Bermuda’s official Rolex dealer for more than a half century, Crisson Jewellers, is celebrating the first anniversary of its boutique at 31 Front Street, Hamilton.
The company moved into the former Ir…

AM Best has affirmed the financial strength rating of A+ (Superior) and the long-term issuer credit rating of “aa” (Superior) of Assured Guaranty Re Overseas Ltd (Agro) (Bermuda). The outlook of these…

Axis has made Jim Rhyner head of North America financial lines, programmes and Canada.
The post is effective August 31, with Mr Rhyner reporting to head of North America Mike McKenna. He will work out…

Banyan Risk, a specialty managing general agent, has launched an American marine product line.
The new offering targets four core segments: construction and infrastructure such as contractor’s equipme…

The RG/BSX Index was unchanged at 3,858.25 today, after no trading on the Bermuda Stock Exchange.
In New York, Butterfield slumped $2.14 or 3.48 per cent, closing at $59.33 on the New York Stock Excha…

As Bermuda considers guardrails for artificial intelligence in financial services, catastrophe modeller Karen Clark & Co says AI could soon be updating the risk tools used by re/insurers and insur…

The Duperreault Fellowship has announced Camily O Lovell as the recipient of this year’s $25,000 scholarship award.
Established in 2004 by the Duperreault family and the former ACE Group, the fellowsh…

A 64-year-old man was arrested for drink-driving after being involved in a three-way collision involving heavy trucks on Monday.
Police confirmed the truck driver, a Sandys resident, sustained injurie…

A local executive has been nominated for a prestigious British business honour.
Lorene Phillips, founder and chief executive of Clarendon Wallace, is one of two people shortlisted for the Insurance Su…

Insurance stocks have had a nice run, maybe too nice.
As a group, the sector is up about 15 per cent since the end of May, as measured by the S&P Select Insurance Industry index, far exceeding the…

The Royal Gazette/BSX Index rose 28.78 points or 0.75 per cent, to end the day at 3,858.35.
Some 7,351 Butterfield shares were traded on the Bermuda Stock Exchange with the price rising 50 cents or 0….

Conduit Holdings, the ultimate parent company of Conduit Re, the Bermuda-based multi-line reinsurance business, has appointed Mark Pickering as chief financial officer as of November. Mark will join t…

The Bermuda Monetary Authority confirmed seven new insurance registrations in July, with additions spanning a diverse range of operational structures.
The newcomers are: Hector Insurance (Class 1), We…

The listing of Mangrove Property Insurance Company’s inaugural catastrophe bond on the Bermuda Stock Exchange has been celebrated with a bell-ringing ceremony at Exchange House on Pitts Bay Road.
Butt…

Focused on emerging industries, Relm Insurance announced the appointment of Sue Crawford as senior vice-president, head of distribution, reporting to Shane Doyle, chief underwriting officer.
Based in…

Specialist re/insurance broker Miller Bermuda, has made Harry Vickers a senior director, property.
Miller Bermuda said Mr Vickers brought a wealth of experience across complex property risks, as well …

Policy proposals approved by Cabinet in May has resulted in legislation that is being prepared for Parliament that seeks to allow the Government to accept and invest in digital assets within a clear …

Butterfield Bank is seeking share holder approval to issue almost 12 million new shares as part of the near $1.8 billion purchase of a major Caribbean bank.
Butterfield announced in May that it would …

The RG/BSX Index remained at 3,829.47 after 2,900 shares ($16,210) traded on the Bermuda Stock Exchange.
Devonshire Industries Ltd closed unchanged at $4.30 after 1,200 shares changed hands. Bermuda P…

The Bermuda-domiciled mineral exploration and development company, Gold Reserve, has said its attorney and legal representative José Ignacio Moreno Suárez has been released from a notorious Venezuelan…

PwC Bermuda expects their annual insurance summit in November will draw more than 400 attendees from more than 175 organisations.
The firm said there will be an exceptional line-up of global industry …

Legal and professional services firm Walkers welcomed eight students to the firm’s Bermuda office as part of the annual legal internship programme.
Reflecting the strong interest in the programme and …