Jessie Moniz Hardy

Bermuda

Senior Reporter at The Royal Gazette

A #bermuda journalist showcasing the most beautiful island in the world. Hit the retweet button! #travel #vacation #ocean #nature #sea #photo #photography #news

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Articles

US warms to crypto but Bermuda still home for XBTO

6 days ago | royalgazette.com | Jessie Moniz Hardy

Even if US regulators warm to crypto, we will remain in Bermuda, the head of a Bermudian-based crypto firm told The Royal Gazette. Philippe Bekhazi, chief executive of XBTO, spoke only hours after newly appointed pro-crypto United States Securities and Exchange Commission Commissioner Hester Peirce said she was eager to resolve longstanding issues around crypto's tax classification in America.
Hamilton Re profits $81 million in first quarter

6 days ago | royalgazette.com | Jessie Moniz Hardy

Hamilton Re has reported net income of $81 million in the first quarter of 2025, a drop of $76 million compared to the same period last year. Commenting on the results, Pina Albo, chief executive officer of Hamilton Re, said her firm was off to a strong start despite industry insured catastrophe losses well above the historical average. "We continue to see good opportunities for profitable growth, with gross premiums written up 17 per cent over the prior year," Ms Alba said.
Digital finance event hands out free money to attendees

1 week ago | royalgazette.com | Jessie Moniz Hardy

People packed Pier Six on Front Street for the opening of the Bermuda Digital Finance Forum, as organisers handed out money in the form of digital currency. More than 200, from teenagers to nonagenarians, attended the first day of the event organised by Penrose Partners. Five hundred registered for the five-day conference. All attendees who downloaded the Coinbase Wallet app received $100 in USDC cryptocurrency. Many used their "new wealth" to buy items in the event's vendor village.
IGI posts $27.3m profit in first quarter

1 week ago | royalgazette.com | Jessie Moniz Hardy

International General Insurance Holdings has reported net income of $27.3 million for the first quarter of the year, a drop of $10.6 million compared to Q1 2024. IGI group president and chief executive officer, Waleed Jabsheh, said his firm had posted relatively solid results for the first quarter of 2025, highlighted by a combined ratio of 94.4 per cent and a return on average equity of 16.7 per cent.
Fed holds the line on interest rates

1 week ago | royalgazette.com | Jessie Moniz Hardy

Citing the uncertainty in the economy, the Federal Reserve today opted to maintain the target range for the federal funds rate at 4.25 to 4.50 per cent. As officials concede growing concern over the US administration's unsteady trade policy, for the third consecutive meeting the decision is to adopt a wait-and-see attitude.
Circle outlines their path to Bermuda

1 week ago | royalgazette.com | Jessie Moniz Hardy

As soon as technology company, Circle, bought Hashnote, one of the largest tokenised treasury and money market funds in the world, they moved it to Bermuda to take advantage of the island's digital asset business licence. "Bermuda is a global gold standard in regulation," said Circle president Heath Tarbert. "That is why we are here today."Mr Tarbert opened the Bermuda Digital Finance Forum at Pier 6, with David Burt, the Premier and Minister of Finance.
residency issue hinders international business

1 week ago | royalgazette.com | Jessie Moniz Hardy

Developing a clearer pathway to permanent residency status is critical to the international business sector, a leading insurance executive has said. Sylvia Oliveira, chief executive of Wilton Re, told The Royal Gazette that without it, many long-term residents give up and leave the island at about the 15-year mark. "At this stage, their teenage children are unable to seek employment and their young adult children must leave their childhood homes with no path to return," she said.
Government, pharmacies at odds over GEHI policy

1 week ago | royalgazette.com | Jessie Moniz Hardy

The Ministry of Finance has hit back at criticism from medicine providers, insisting every pharmacy was informed about a change to the Government's insurance plan that lowered the approvals threshold. The adjustment required Government Employee Health Insurance policyholders to obtain permission for all medications of more than $500. Previously, approvals were needed for more expensive medications.
American Overseas net income up 77% for 2024

1 week ago | royalgazette.com | Jessie Moniz Hardy

The American Overseas Group, an insurance holding company incorporated in Bermuda, has reported net income of $9.4 million for 2024, an increase of $4 million from the previous year. In a letter to shareholders, American Overseas president and chief executive officer, Debra Roberts, said the results were fuelled by the expansion of their Old American brand and their disciplined approach to underwriting.
Lancashire wildfire losses in the range of $165m

1 week ago | royalgazette.com | Jessie Moniz Hardy

Lancashire Holdings' Q1 statements estimate aggregate net ultimate losses related to the California wildfires, in the range of $145 million to $165 million. Alex Maloney, group chief executive officer, said the estimate falls within the group's modelled loss ranges for this type of catastrophe event. "Loss information after these types of events can take some time to emerge," Mr Maloney said.