Hashtag: #BermudaBusiness

BDA Risk Summit Attracts Overseas Delegates

BDA Risk Summit Attracts Overseas Delegates

The Bermuda Risk Summit, presented by the Bermuda Business Development Agency [BDA], in partnership with the Association of Bermuda Insurers and Reinsurers [ABIR] and EY, has “once again had a strong showing of overseas support, with 40% of its 450-plus delegate list attending from overseas,” the BDA said. A spokesperson said, “The... Read more of this article

Brit Ltd Appoints David Cary As Deputy Head

Brit Ltd Appoints David Cary As Deputy Head

Brit Ltd announced that David Cary has been appointed to the role of Deputy Head of Property Treaty, Bermuda. A spokesperson said, “David brings nearly 20 years’ experience in the reinsurance sector. Before joining Brit, he was Underwriting Manager and Head of Property & Casualty, Bermuda for QBE Re. Prior to this, David held senior roles... Read more of this article

AM Best Assign B++ Rating To Mozart Insurance

AM Best Assign B++ Rating To Mozart Insurance

AM Best has assigned a Financial Strength Rating of B++ [Good] and a Long-Term Issuer Credit Rating of “bbb” [Good] of Mozart Insurance, Ltd. [Mozart] [Bermuda]. The outlook assigned to these Credit Ratings [ratings] is stable. The ratings agency said, “The ratings reflect Mozart’s balance sheet strength, which AM Best assesses as very strong,... Read more of this article

AM Best Affirms North End Re’s Ratings

AM Best Affirms North End Re’s Ratings

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Rating of “a-” [Excellent] of North End Re Ltd. [Bermuda]. The outlook of these Credit Ratings is stable. The ratings agency said, “The ratings reflect North End Re Ltd.’s balance sheet strength, which AM Best assesses as strong, as well... Read more of this article

Govt Launch Red Tape Reduction Consultation

Govt Launch Red Tape Reduction Consultation

“I am announcing the opening of the promised consultation with the Government’s largest and most important stakeholder, the people of Bermuda, to hear directly from the public about what regulations they feel can be reduced,” Premier and Minister of Finance David Burt said in the House of Assembly. The Premier said, “We want to hear... Read more of this article

Bank Of Butterfield Appoints Simon Des-Etages

Bank Of Butterfield Appoints Simon Des-Etages

The Bank of N.T. Butterfield & Son announced the appointment of Simon Des-Etages to General Counsel and Group Chief Legal Officer effective March 18, 2024. A spokesperson said, “Mr. Des-Etages succeeds Shaun Morris, who has served in the role for the last twelve years and made the decision to retire.” Michael Collins, Chairman and Chief... Read more of this article

Shipping Schedule: Week Starting March 16

Shipping Schedule: Week Starting March 16

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday, March 16th. On Saturday the Marella Explorer cruise ship is expected, on Sunday the Silver Dubai and the Navigare Terra Mater oil products tankers will arrive, and on Monday the Oleander container ship is scheduled to... Read more of this article

Bermuda Stock Exchange Report: March 15 2024

Bermuda Stock Exchange Report: March 15 2024

March 15 saw 0 shares trade on the Bermuda Stock Exchange. The BSX finished at 2,246.57, even on the day. There were 0 advances, 0 declines, and 51 remained unchanged. The full report for the day is available here [PDF], and the full report for the week is available here [PDF]. Related Stories ‘Active And Significant Year For The BSX’ Bermuda... Read more of this article

BTA: “New, Extended, And Returning Airlift”

BTA: “New, Extended, And Returning Airlift”

The Bermuda Tourism Authority [BTA] provided an overview of the “2024 plans for nonstop flight service to Bermuda with new, extended, and returning airlift across the Eastern U.S.” A spokesperson said, “This year, travellers can access additional direct flights to L.F. Wade International Airport [BDA] that are under three hours from... Read more of this article

AM Best Assigns Credit Ratings To Arch Group

AM Best Assigns Credit Ratings To Arch Group

AM Best assigned Arch Group Reinsurance a Financial Strength Rating of A+ and Long-Term Issuer Credit Ratings of “aa-” with a stable outlook. The ratings agency said, “AM Best has assigned the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings of “aa-” [Superior] to Arch Group Reinsurance Ltd. [Arch Group... Read more of this article

Bermuda Stock Exchange Report: March 14 2024

Bermuda Stock Exchange Report: March 14 2024

March 14 saw 0 shares trade on the Bermuda Stock Exchange. The BSX finished at 2,246.57, even on the day. There were 0 advances, 0 declines, and 51 remained unchanged. The full report for the day is available here [PDF]. Related Stories ‘Active And Significant Year For The BSX’ Bermuda Stock Exchange Report: March 15 2024 Bermuda Stock... Read more of this article

Monetary Authority To Collaborate With Lloyd’s

Monetary Authority To Collaborate With Lloyd’s

The Bermuda Monetary Authority [BMA] along with Lloyd’s, have “committed to jointly developing an initiative for closer collaboration and alignment between the world’s two major [re]insurance hubs.” A spokesperson said, “The initial focus will be on improving access to education academies and innovation through the Lloyd’s Lab and... Read more of this article

Bermuda Stock Exchange Report: March 13 2024

Bermuda Stock Exchange Report: March 13 2024

March 13 saw 1,000 shares trade on the Bermuda Stock Exchange, valued at $30,000.00 BD. 1,000 shares were traded by Bank of N.T. Butterfield Ltd, closing down 6.2% at $30.00 per share. The BSX finished at 2,246.57, down 4.54% on the day. There were 0 advances, 1 decline, and 50 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article

Compre Announces Zameer Mitha’s Appointment

Compre Announces Zameer Mitha’s Appointment

Compre, the Bermuda-domiciled international legacy group, today announced the appointment of Zameer [Zam] Mitha to the newly created role of group commercial director within the group’s business development function. A spokesperson said, “Mitha, who joined Compre as chief actuary – North America in 2022, will be responsible for business origination... Read more of this article

PwC: Dealmaking Expected To Remain Active

PwC: Dealmaking Expected To Remain Active

“Many financial services [FS] dealmakers entered 2024 with a greater sense of optimism, reflecting on 2023 as a low point in which uncertainty created by macroeconomic factors such as high inflation, rising interest rates and lower economic growth projections dampened M&A activity,” PwC said. A spokesperson said, “While macroeconomic... Read more of this article

BEDC Launch 2024 Enterprise Incubator Program

BEDC Launch 2024 Enterprise Incubator Program

The Bermuda Economic Development Corporation [BEDC] recently kicked off the 2024 cohort of the Enterprise Bermuda Incubator program with an orientation evening on March 8th, 2024, at the BEDC Main Office. A spokesperson said, “The event welcomed 15 new businesses, marking the start of their 12-month journey toward growth and development. “The... Read more of this article