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AM Best has affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of “bbb-” (Good) of Bermudian-based Golden Tree Reinsurance Limited. The outlook of the credit ratings is stable. Golden Tree is a subsidiary of Ir...

Bermudian-based Teekay Corporation has reported net income attributable to shareholders of Teekay of $5.3 million in the second quarter. That compares with a profit of $888,000 in the first quarter of the year and a loss of $1.8 million in the second...

Digicel Bermuda has offered seven young people internships in their service delivery and outside plant divisions this summer. Digicel said: “With rising youth unemployment within Bermuda, it is critical that we, as an employer, foster those relations...

Assured Guaranty Ltd, the bond insurer based in Bermuda, has reported a net loss of $47 million for the second quarter of the year. That result includes after-tax losses of $63 million related to foreign exchange remeasurement, $27 million on alterna...

Sun Life International has launched Sun Global Aurora, a savings-oriented indexed universal life product. The company said it was aimed at high-net-worth clients looking to diversify, protect and grow their assets by buying a life insurance contract ...

Teekay Tankers Ltd, the Bermudian-based owner and operator of mid-sized crude oil tankers, has returned to profitability. The company reported net income of $28.5 million in the second quarter of the year. That compares with a first-quarter loss of $...

Essent Group Ltd, the mortgage re/insurer based in Bermuda, has reported net income for the second quarter of $231.8 million. That compares with net income of $159.8 million for the same quarter a year ago. Mark A Casale, chairman and chief executive...

Palomar Holdings Inc, the parent company for subsidiaries including island-based Palomar Specialty Reinsurance Company Bermuda Ltd, has reported net income of $14.6 million for the second quarter. That compares with net income of $12.3 million for th...

HSBC Bermuda will be raising its base lending rate on residential mortgages and consumer loans for the first time since 2019. Effective October 4, it will raise its base rate for Bermuda dollar residential mortgages and consumer loans by 0.50 per ce...

Giovanni Hollis, a Bermudian university student, has been awarded the 2022 BFIS CG Insurance Alan Peacock Scholarship. The award is valued at $25,000 for two academic years, totalling $50,000. Mr Hollis is a junior at Northeastern University, pursuin...