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The chief executive officer of Borr Drilling Limited, the oilfield services company based in Bermuda, remains optimistic despite a $51.3 million net loss reported by the company for the first quarter of the year. Patrick Schorn said: “We are pleased ...

Bermudian-domiciled Monument Re Group, the reinsurer and asset consolidator, has reached agreement with Zurich International Life Limited to acquire the closed book portfolio of ZILL’s Singapore long term life insurance business. Following Isle of Ma...

Bermudian-based Nordic American Tankers Limited, the oil tanker company, expects better days ahead after reporting a net loss of $27 million for the first quarter of the year. That compares with a net loss of $25 million in the same quarter a year ag...

Axis Insurance, the specialty insurance business segment of Bermudian-based Axis Capital Holdings Limited, is combining its corporate accident and supplemental health benefits business under a new name, Axis Group Benefits. The Axis Group Benefits bu...

Poised for growth, a managing general agent backed by the Japanese multinational conglomerate holding company SoftBank Group Corporation, is pioneering a new insurtech strategy. Envelop Risk has launched a Class 3A reinsurer Augmented Re in Bermuda a...

Gross written premiums were up by 92 per cent for the first three months of the year in the programme management business of Randall & Quilter Investment Holdings Ltd, the Bermudian-based non-life global specialty insurance company. R&Q, which also f...

Bermudian-based Charles Craigs has been promoted to group head of reinsurance at Canopius Group, the global specialty re/insurer with an operation on the island. The move comes as the Jersey-domiciled group makes senior appointments and reorganises i...

AM Best has affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of “a+” (Excellent) of Bermudian-based BNY Trade Insurance Ltd and The Hamilton Insurance Corp, based in Melville, New York. Both are single-...

Ten directors have been re-elected by shareholders’ vote at the Annual General Meeting of The Bank of N.T. Butterfield & Son Limited. Re-elected at the meeting, which was held virtually, were Michael Collins, Alastair Barbour, Sonia Baxendale, James ...

Clarien Bank has become the second island-based financial institution to increase its Bermuda dollar base lending rate by 50 basis points, or 0.50 per cent, following the US Federal Reserve rate increase earlier this month. Butterfield Bank was the f...