Butterfield is offering a free money management and financial literacy class next month for full-time college and university students between the ages of 18 and 30. A spokesperson said, “The Butterfield 101 Money Management Programme will be held on Thursday, 18 July, from 5:30pm at Butterfield’s Head Office on Front Street. Retail banking professionals will […]

The Bermuda Bankers Association announced support for World Elder Abuse Awareness Day on June 15, highlighting the need to recognize and prevent financial abuse, especially among older adults. A spokesperson said, “The Bermuda Bankers Association supports World Elder Abuse Awareness Day, which takes place each year on June 15th. This is an opportunity to remind […]

Clarien Bank Limited announced that, pending regulatory approvals, Cornerstone Financial Holdings Ltd or its nominee, will acquire a controlling interest in Clarien Group Limited [CGL]. A spokesperson said, “Clarien Bank Limited [the Bank /Clarien], a leading financial institution on the Island, is pleased to announce that, pending regulatory approvals, Cornerstone Financial Holdings Ltd [Cornerstone] or […]

The Bank of N.T. Butterfield & Son Limited notified the Bermuda Stock Exchange that it repurchased and canceled 237,074 common shares at an average price of $33.65 per share in June 2024. The filing stated, “The Bank of N.T. Butterfield & Son Limited informs the Bermuda Stock Exchange that pursuant to Regulation 6.44 of the […]

Clarien Bank announced the latest updates in its commitment to Environmental, Social, and Governance [ESG] considerations, a field they said is “quickly becoming indispensable for businesses worldwide, including those in the banking sector.” A spokesperson said, “Recognising that adopting robust ESG practices is no longer a matter of choice but a necessity, Clarien Bank has decisively […]

The Bank of N.T. Butterfield & Son Limited today announced financial results for the quarter ended June 30, 2024. A spokesperson said, “Net income for the second quarter of 2024 was $50.6 million, or $1.09 per diluted common share, compared to net income of $53.4 million, or $1.13 per diluted common share, for the previous quarter and […]

The Bank of N.T. Butterfield & Son Limited informed the Bermuda Stock Exchange that pursuant to Regulation 6.44 of the Bermuda Stock Exchange Listing Regulations, the company repurchased for cancellation 320,088 common shares at an average price of $37.52 per share in July 2024. Related Stories Butterfield Senior Management Appointments Bank Of Butterfield Adjusts Rates Bank Of […]

Butterfield announced the successful conclusion of its 2024 Summer Internship programme which provided 12 Bermudian students pursuing an undergraduate degree with an opportunity to gain direct experience and knowledge in the world of finance. A spokesperson said, “The nine-week programme aimed to equip all participants with new skills and learning opportunities in a professional environment […]

[Updated] Butterfield’s Banking Centres will close early on August 16 due to Hurricane Ernesto, with a planned reopening on August 19th. A spokesperson said, “Please be advised that due to Hurricane Ernesto, all of our Banking Centres will close at 2 p.m. on Friday, August 16, and for the entirety of the weekend. We anticipate […]

Clarien Bank will open on Monday [August 19] and resume normal operations. A spokesperson said, “Clarien Bank will resume normal business operations on Monday, August 19 at 8:30 am following closure due to Hurricane Ernesto. A thorough assessment of all facilities and systems has been completed to ensure the safety and security of our clients and […]

Clarien’s new interns, Maya Dean, Chelsea Correira, and David Goonewardene, made a “significant impact” this summer with their fresh ideas, the company said. A spokesperson said, “As we embrace the final weeks of summer, Clarien is proud to introduce our latest team members—interns Maya Dean, Chelsea Correira, and David Goonewardene—who have spent the past few weeks […]

Butterfield’s 2024 Leadership and Entrepreneurship Accelerator Programme has successfully concluded, with six young women, including Bermuda’s Zea Swainson, completing the initiative. A spokesperson said, “Butterfield is proud to announce the successful completion of the 2024 Leadership and Entrepreurship Accelerator Programme [LEAP] by six talented young females, including Zea Swainson from Bermuda, who were sponsored to […]

The Bank of Butterfield repurchased for cancellation 351,110 common shares at an average price of $36.15 per share in August 2024. The filing with the BSX stated, “The Bank of N.T. Butterfield & Son Limited informs the Bermuda Stock Exchange that pursuant to Regulation 6.44 of the Bermuda Stock Exchange Listing Regulations, the company repurchased for cancellation 351,110 common […]

HSBC announced the appointment of Gregory Garnier as CEO of HSBC Bank Bermuda Limited, effective September 23, 2024. A spokesperson said, “Gregory Garnier, joined HSBC 22 years ago in Mergers and Acquisitions in Paris and has led teams in France and the US in a wide range of Investment Banking and Global Banking roles. His most […]

The Bank of Butterfield & Son Limited announced that it is reducing its base interest rates on loans and mortgages by a quarter of a percentage point [0.25%]. A spokesperson said, “The change in base rates applies to Bermuda dollar residential mortgages, consumer loans, corporate loans and USD loans. The rate reduction on loans takes effect […]

The Bank of N.T. Butterfield & Son Limited today announced financial results for the quarter ended September 30, 2024. A spokesperson said, “Net income for the third quarter of 2024 was $52.7 million, or $1.16 per diluted common share, compared to net income of $50.6 million, or $1.09 per diluted common share, for the previous quarter […]

The Bank of Butterfield repurchased for cancellation 432,876 common shares at an average price of $37.31 per share in October 2024. The filing with the BSX stated, “The Bank of N.T. Butterfield & Son Limited informs the Bermuda Stock Exchange that pursuant to Regulation 6.44 of the Bermuda Stock Exchange Listing Regulations, the company repurchased […]

AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” [Excellent] for Athora Life Re Ltd. and Athora Ireland plc. The ratings agency said, “AM Best has affirmed the Financial Strength Rating of A- [Excellent] and the Long-Term Issuer Credit Ratings of “a-” [Excellent] of Athora […]

ILS Bermuda announced that Paul Craven,  an international speaker and specialist in behavioural science, will be the keynote speaker at ILS Bermuda’s Convergence 2024. A spokesperson said, “The event will take place from October 7–9, 2024, bringing together industry leaders and innovators to explore the latest trends and opportunities in the insurance-linked securities and alternative risk […]

Everest Group, Ltd.  has named industry leader Bill Hazelton Executive Vice President of Everest Insurance & President of North America Insurance. A spokesperson said, “Mr. Hazelton most recently served as Head of US Retail Casualty and Industry Practices for Everest Insurance. Prior to Everest, Mr. Hazelton spent three decades in various leadership roles across underwriting, claims […]

Darag Group announced that it has “agreed to sell, subject to regulatory approvals, its North American and Bermuda business entities to the RiverStone Group.” A spokesperson said, “The sale is expected to close by year end. Darag’s North American and Bermuda business has built a reputation as the leading player in its niche market. Darag and […]

AM Best has assigned a Financial Strength Rating of A- [Excellent] and a Long-Term Issuer Credit Rating of “a-” [Excellent] to Martello Re Limited. The outlook assigned to these Credit Ratings [ratings] is stable. A statement from the ratings agency said, “The ratings reflect Martello Re’s balance sheet strength, which AM Best assesses as very strong, as […]

Fidelis Insurance Group declared a dividend and announced a new share repurchase authorization. A spokesperson said, “Fidelis Insurance Holdings Limited, a global specialty insurer, announced today that its Board of Directors has approved and declared a dividend of $0.10 per share, payable on September 30, 2024, to common shareholders of record on September 16, 2024. “In addition, […]

International General Insurance Holdings declared an ordinary common share dividend of $0.025 per share. A spokesperson said, “International General Insurance Holdings Ltd. today announced that its Board of Directors has declared an ordinary common share dividend of $0.025 per share for the period April 1, 2024 – June 30, 2024. The dividend is payable on […]

Freisenbruch Insurance will close its office at 2:00 p.m. today due to Hurricane Ernesto. A spokesperson said, “As we prepare for the impacts of Hurricane Ernesto, we remain mindful of our obligations to keep our clients, our staff and our families safe. “Today [Friday] our office will close at 2:00pm and is scheduled to reopen […]

Skyah Walker and Charlie Thorpe completed internships at Wilton Re Bermuda Limited, gaining practical experience in actuarial and accounting tasks through the BILTIR program. A spokesperson said, “Skyah Walker and Charlie Thorpe were selected from a field of nearly two dozen applicants as this year’s summer interns at Wilton Reinsurance Bermuda Limited. Wilton Re has […]

The 17th annual PwC insurance and reinsurance forum is set to convene more than 300 industry leaders and professionals to discuss the pivotal trends and strategies shaping the industry landscape. A spokesperson said, “The PwC Insurance Summit, presented with the Financial Times, known for its comprehensive insights and thought-provoking discussions, will take place on 12 […]

Compre Group completed a $150 million reinsurance deal with Accelerant, approved by the Bermuda Monetary Authority. A spokesperson said, “Compre Group Holdings Limited [Compre], the Bermuda-domiciled international legacy and reinsurance group, today announced it has completed a legacy reinsurance transaction with Accelerant, the data-driven risk exchange, following approval by the Bermuda Monetary Authority. The transaction, […]

Total dedicated reinsurance capital in 2023 jumped by 7% to USD 568 billion, with an even larger increase projected for 2024, according to a new AM Best report. A statement from the ratings agency said, “The Best’s Market Segment Report, “Dedicated Reinsurance Capital Thrives in Hard Market,” is part of AM Best’s look at the […]

AM Best has affirmed the Financial Strength Rating of A [Excellent] and the Long-Term Issuer Credit Rating of “a” [Excellent] of Nissan Global Reinsurance, Ltd. [NGRe] [Hamilton, Bermuda]. A statement from the ratings agency said, “The outlook of these Credit Ratings [ratings] is stable. “The ratings reflect NGRe’s balance sheet strength, which AM Best assesses […]

AM Best affirmed Global Atlantic Group’s excellent ratings, noting its “strong operating performance, neutral business profile and appropriate enterprise risk management.” A statement from the ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A [Excellent] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “a+” [Excellent] of Commonwealth Annuity and […]

Arch Capital Group announced that Daniel “Dan” J. Houston and Neal Triplett will join the Company’s Board of Directors, effective immediately. A spokesperson said, “Mr. Houston is a seasoned executive with a wealth of experience in the financial services sector. He is Chairman and CEO of Principal Financial Group, where he is responsible for overall […]

Lockton Re announced that Kristopher Lynn joined as a Senior Broker and Practice Leader for Agriculture, bringing nearly 20 years of industry experience to their Bermuda office. A spokesperson said, “Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker, is pleased to announce that Kristopher Lynn has joined Lockton Re […]

Enstar Group Limited  has completed the previously announced transaction between one of its wholly owned subsidiaries with Insurance Australia Limited, on behalf of Insurance Australia Group [IAG], following receipt of the relevant regulatory approvals and satisfaction of the final closing conditions. A spokesperson said, “Under the terms of the adverse development cover [ADC] agreement, Enstar will […]

Member companies of the Association of Bermuda Insurers and Reinsurers [ABIR] recorded a strong 18% year-over-year increase in premium written in 2023. A spokesperson said, “ABIR’s global underwriting report, released today, comprises data from 25 of 31 member re/insurers for the calendar year 2023. The Group generated gross written premium of over $171 billion, up […]

Enstar Group Limited announced that its 35-day “go-shop” period ended without receiving any alternative acquisition proposals, as part of its $5.1 billion merger agreement with Sixth Street. A spokesperson said, “Enstar Group Limited Today announced the expiration of the 35-day “go-shop” period as provided in the previously announced definitive merger agreement, pursuant to which Sixth […]

MultiStrat, the specialty reinsurance and capital advisory firm, has announced two senior promotions in its underwriting team as the company continues to build out its expertise, talent, capital, brokers, investors, and carrier partners in 2024 and 2025. A spokesperson said, “Kier James has stepped up from Vice President, Underwriting, to the role of Chief Underwriting […]

PwC hosted over 400 reinsurance executives across three events at the annual Rendez-Vous de Septembre [RVS] in Monte Carlo this week. A spokesperson said, “Key themes at this year’s RVS – the largest international gathering in the industry – were the ongoing hard market, improved resiliency of reinsurers, AI and concerns around increasing climate-related risks.” […]

Minister of Labour Jason Hayward gave a keynote address to help open the Bermuda Captive Conference yesterday [Sept 9], wishing attendees “a successful and productive conference.” Minister Jason Hayward said, “Good morning, everyone. I want to extend a warm welcome to all of you, especially our guests who have traveled from overseas to join us […]

Mosaic has added 13 leading US environmental risk specialists to its team as the company drives a strategic buildout of business across the Americas A spokesperson said, “The expansion marks the next stage of rapid growth for Mosaic’s Environmental Liability division which the company launched as its seventh line of business less than two years […]

Aon plc announced the expansion of its Bermuda reinsurance platform, adding five new team members to enhance local capabilities and drive growth, subject to immigration approvals. A spokesperson said, “Aon plc [NYSE: AON], a leading global professional services firm, today announced the significant expansion of its Bermuda reinsurance platform to augment transactional and capital optimization […]

Gallagher launched a new specialty insurance business in Bermuda, and has appointed Jasmine DeSilva as Managing Director of the new business. A spokesperson said, “Gallagher has launched a new business in Bermuda to support clients across the region with their specialty insurance solutions. “Gallagher already has a significant client base in Bermuda, along with treaty reinsurance […]

AM Best affirmed the ratings of Top Layer Reinsurance Ltd., with a stable outlook. A statement from the ratings agency said, “AM Best has affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Rating [Long-Term ICR] of “aa-” [Superior] of Top Layer Reinsurance Ltd. [Top Layer] [Bermuda]. The outlook of […]

[Written by Roxanne Christopher] September is Life Insurance Awareness Month, making it the perfect time to consider the benefits of life insurance for young adults. Life insurance is often seen as a financial product relevant only for older individuals or those with dependents. However, young adults, especially Millennials and Gen Z, have much to gain […]

Deloitte Bermuda announces the addition of two partners to its team, pending approval from the Department of Immigration; Lewis Lo, Partner in Audit & Assurance, and Marcin Czarnocki, Partner in Financial Advisory. Mr Lo has been a Deloitte professional for over 13 years. He serves clients in the Investment Management and [Re]insurance industries, including investment […]

Mosaic Insurance has “launched customized global terrorism and sabotage coverage for fine art and specie insureds, with syndicated capacity extending up to $215 million per risk.” A spokesperson said, “The new product offers coverage for physical loss or damage caused by acts of terrorism and sabotage, protecting artwork and other high-value contents housed in museums, […]

AM Best affirmed Sura Re Ltd.’s B++ [Good] Financial Strength Rating and “bbb” [Good] Credit Rating, with a stable outlook, citing its strong balance sheet and adequate performance. A statement from the ratings agency said, “AM Best has affirmed the Financial Strength Rating of B++ [Good] and the Long-Term Issuer Credit Rating of “bbb” [Good] […]

Essent Group Ltd. announced that its wholly-owned subsidiary, Essent Guaranty, Inc., has obtained $363.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in July 2023 through July 2024 from Radnor Re 2024-1 Ltd., a newly formed Bermuda special purpose insurer. A spokesperson said, “Radnor Re 2024-1 Ltd. is not […]

Coralisle Group Ltd won two gold awards at the 2024 ARF David Ogilvy Awards for its creative work in Financial Services & Insurance and Best Emerging Brand. A spokesperson said, “Coralisle Group Ltd [CG] is proud to announce its double victory at the prestigious 2024 Advertising Research Foundation [ARF] David Ogilvy Awards, held last week […]

Mosaic Insurance appointed Francesca Harland as Global Head of Professional Liability, succeeding Anna Jay to boost the agency business and recognizing Harland’s contributions since the unit’s launch. A spokesperson said, “Mosaic Insurance has appointed Francesca Harland as its new Global Head of Professional Liability. “Harland, a leading underwriter in the unit since its inception, steps […]