Royal Gazette

STS Digital will let some clients use USDM1, a digital bond issued by the Marshall Islands, as security when they trade with the company or borrow money through certain financial arrangements.
In prac…

The Bermuda Monetary Authority is proposing safeguards for the use of artificial intelligence, aiming to help the island’s re/insurers and other firms adopt the technology while staying accountable.
T…

Bermuda’s construction pipeline helped keep up the amount of cargo at Polaris Holding Co during the past financial year, although the group’s net profit fell by almost half from the exceptional result…

Bermudian medical doctor and hair specialist Kyjuan Brown expects to quadruple the number of students in his education programme, thanks to new accreditation from the British government.
Dr Brown’s In…

AM Best has affirmed the financial strength rating of A (Excellent) and a long-term issuer credit rating of “a+” (Excellent) of Cavello Bay Reinsurance, a subsidiary of Enstar Group.
The outlook of th…

Mangrove Property Insurance Company has widened its reinsurance portfolio with top rated companies participating in its catastrophe reinsurance programme for the 2026-2027 cycle.
The company said its…

Back by popular demand! The retiring abroad series.
The eighth location on the list is the lovely Cape Breton, Canada.
For those unfamiliar, Cape Breton Island, Nova Scotia, is rugged, coastal and is …

Dear Dave,
My husband and I have our $1,000 beginner emergency fund in the bank and we’re about to start paying off debt. Currently, I’m a stay-at-home mom taking care of our new baby. My husband brin…

Convex wrote $1.9 billion of gross premiums in the second quarter, up 8.1 per cent year on year, although net income fell 39 per cent to $169 million as its combined ratio rose to 85 per cent.
The Ber…

The RG/BSX Index remained unchanged today at 3,829.47, after a quiet Friday in which the only activity was the exchange of 278 Bank of Butterfield shares at an unchanged price of $59.50 ($16,541).
For…

Pelagos Insurance Capital, the Bermudian-based speciality re/insurer formerly known as Fidelis Insurance Holdings, returned to first-half underwriting profit as gross premiums increased and prior-yea…

Sophia Perrin, accounting and finance student at the University of Loughborough in the UK, has won this year’s Peter Mitchell Scholarship worth $20,000.
I’Aura Golding is the recipient of the Abic Awa…

Bermuda’s reinsurance market is facing a major decline in property-catastrophe pricing but stronger policy terms and higher attachment points have helped preserve returns, according to AM Best.
In a …

Twenty nine students took part in the Hamilton Princess & Beach Club’s internship programme this summer.
The Pitts Bay Road, Pembroke hotel said the young people brought enthusiasm, fresh perspect…

Marex’s redomiciliation from the United Kingdom to Bermuda is proving to be a positive move.
Only a month after officially shifting to Bermuda, the financial services platform has reported record adj…

The Bermuda Monetary Authority is strengthening requirements to clear ‘key persons’ in financial services.
Regulated entities, applicants, service providers and other external stakeholders have been a…

After days of inactivity, The Royal Gazette/BSX Index plunged 119.36 points or 3.02 per cent on the Bermuda Stock Exchange.
One thousand Allshores shares traded to close at $27.10, down $1.90 or 6.6 p…

Thirteen Bermuda College students have completed the 2025—2026 Insurance-Linked Securities Bermuda College programme, earning the second-ever completion certificate.
The programme combines real-world…

The board of the Association of Bermuda Insurers and Reinsurers has approved the appointment of a new treasurer, Elizabeth Breeze, head of Hiscox Capital Partners.
Ms Breeze joined Hiscox in 2012 and …

The Construction Association of Bermuda has awarded $25,000 in scholarships to Bermudians to help them continue their education in construction related fields.
The funds were raised at CAOB’S annual …

Axa XL has made Matt Waters head of its large commercial and speciality business unit.
Lucy Pilko, Axa XL’s chief executive, Americas, said their large commercial and speciality clients are navigating…

The Royal Gazette/BSX Index held at 3,948.83 after no activity on the domestic board of the Bermuda Stock Exchange.
Butterfield Bank rose 60 cents or 0.95 per cent on the New York Stock Exchange t…

David Soutter is the new group chief risk officer at RiverStone International, reporting to chief executive Paul Brockman.
The company is an acquirer and reinsurer of legacy and discontinued insurance…

Bermudian-based reinsurers sponsored nearly $1.4 billion of catastrophe bonds during a record-breaking second quarter.
A new report from Artemis found that investor capital helped drive down the cost…

Google has announced a new Bermuda cable landing connecting to the Dominican Republic.
The new system, Canoa, makes a link that provides options for Central and South American traffic needing to go Eu…

A Bermuda engineer is preparing to launch an island version of an Amazon-style purchasing platform.
Whether you need a tube of toothpaste, a new rain jacket or a new dog crate, Tim Vieira’s company C…

The Cayman Islands is discussing its bid for jurisdictional status at the United States National Association of Insurance Commissioners’ summer national meeting.
André Ebanks, Cayman’ premier, announc…

A new Bermuda reinsurer is the latest expansion initiative of Mangrove Property Insurance Company, the Florida-based property and casualty insurer founded by Bermuda industry veteran Stephen Weinstein…

Husayn Symonds has been promoted to membership and stakeholder engagement officer with Bermuda International Long Term Insurers and Reinsurers.
The regulatory policy analyst, communicator and organisa…

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…