Category: Business

Somerset Reinsurance Appoints Christopher Smith

Somerset Reinsurance Ltd. announced the appointment of Christopher [Chris] Smith as Head of Structured Reinsurance with immediate effect. A spokesperson said, “Somerset Reinsurance Ltd. [Somerset], a leading provider of reinsurance solutions to the U.S. life insurance and annuity market, is delighted to announce the appointment of Christopher [Chris]... Read more of this article

Shipping Schedule: Week Starting September 25

The Department of Marine & Ports Services has released the weekly shipping schedule for ship arrivals commencing on Saturday September 25th.On Sunday the Crystal Symphony cruise ship is expected, on Monday the Oleander container ship will arrive, on Wednesday the Norwegian Breakaway cruise ship is scheduled to arrive and on Thursday the Bermuda... Read more of this article

AXIS Capital Declares $0.42 Quarterly Dividend

Bermuda-based AXIS Capital Holdings Limited announced that its Board of Directors has declared a quarterly dividend of $0.42 per common share payable on October 15, 2021 to shareholders of record at the close of business on October 4, 2021. In addition, the Board declared a dividend of $34.375 per Series E 5.50% Preferred Share [equivalent to $0.34375... Read more of this article

RMS Estimate $1.1–$2.2B Losses From Nicholas

RMS estimates that the total U.S. insured losses from Hurricane Nicholas will be between US$1.1 and US$2.2 billion, and with the island being home to many of the world’s top re/insurers it is expected some will be paying claims, A spokesperson said, “RMS, the world’s leading catastrophe risk solutions company, estimates that the total U.S. insured... Read more of this article

Bermuda Stock Exchange Report: Sept 24 2021

September 24 saw 2,070 shares trade on the Bermuda Stock Exchange, valued at $62,217.50 BD. 1,100 shares were traded by Bank of N.T. Butterfield Ltd, closing even at $36.50 per share, while another 970 shares were traded by BF&M Ltd, closing down 1.1% at $22.75 per share. The BSX finished at 2,557.51, down 0.09% on the day. There were 0 advances,... Read more of this article

SiriusPoint Appoints Brenden As Chief Actuary

SiriusPoint Ltd. has announced that Justin Brenden has been appointed to the role of Chief Actuary, subject to approval by the Bermuda Department of Immigration. A spokesperson said, “As Chief Actuary, Mr. Brenden will lead SiriusPoint’s actuarial organization, with responsibility for global reserving and aligning pricing to drive to the Company’s... Read more of this article

Convergence Will Not Proceed Due To Covid

Citing the recent changes to local guidelines, the sharp increase in Covid cases and the CDC moving Bermuda to Level 4, ILS Bermuda announced that the 2021 Convergence networking event “will not go ahead as planned.” A spokesperson said, “In light of recent changes to local guidelines issued by the Government of Bermuda, as well as a sharp... Read more of this article

‘Waterfront Man’ Store Opening On Front Street

The Waterfront Group of Companies is opening a new men’s store named ‘Waterfront Man’ on Front Street, with the newly renovated 3000 square ft shop featuring a selection of men’s footwear, accessories, books, gifts and more.A spokesperson said, “The Waterfront Group of Companies has announced it has recently opened a new men’s... Read more of this article

Rise Marketing Launches Marketing Workshop

Registration opens today [Sept 24] for the Marketing Masterplan Workshop, run by local business Rise Marketing. A spokesperson said, “As of today, registration opens for the Marketing Masterplan Workshop run by local business Rise Marketing. The workshop is designed to help small to medium local businesses develop their Marketing Strategy, Marketing... Read more of this article

Bermuda Stock Exchange Report: Sept 23 2021

September 23 saw 20,227 shares trade on the Bermuda Stock Exchange, valued at $480,071.00 BD. 1,100 shares were traded by Bank of N.T. Butterfield Ltd, closing up 0.7% at $36.50 per share, while another 19,127 shares were traded by BF&M Ltd, closing at an even $23.00 per share. The BSX finished at 2,559.79, up 0.53% on the day. There was 1 advance,... Read more of this article

Phoenix Expects Antigen Tests To Cost $15 – $20

The Phoenix Stores has provided an update on antigen tests, saying they expect to receive a supply by the end of next week and “customers can expect to purchase the individual units from any of our dispensaries, ranging in price from approximately $15-$20.” Government: “Antigen Tests Can Now Be Imported For Personal Use” This follows... Read more of this article

BILTIR Board: Scotland Courcy & Sooboodoo

Bermuda International Long Term Insurers and Reinsurers [BILTIR] announced that Board member Natasha Scotland Courcy is their new Vice-Chair, and that Andrew Sooboodoo has joined the Board. The Board appointments were confirmed at BILTIR’s annual 2021 Bermuda International Life and Annuity Conference, which was held as a virtual event on September... Read more of this article

Mosaic Expands Global Cyber Offering

Mosaic Insurance has expanded its cybersecurity business line internationally, with the addition of new team members to its UK-based unit. A spokesperson said, “The specialty insurer began underwriting global cyber coverage from Chicago April 1, just two months after launching with headquarters in Bermuda, a new Lloyd’s syndicate, 1609, and a network... Read more of this article