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Government will expand the powers of the Bermuda Monetary Authority to ensure banks treat their customers fairly, legislators have been told. Other financial institutions will eventually be included, with an aim of further developing the existing con...

A new study from an American think tank is the latest development in proposals for a global corporate tax scheme that could threaten Bermuda’s international business. But the report has concluded that Bermuda reinsurers are crucial to the United Stat...

Unprecedented global forces directly attributable to the pandemic, are raising the cost of building a Bermuda home. Even those making additions or renovations may face massive price increases on some products, delays, shortages, and in some cases, no...

A new estimate from catastrophe modelling firm, Karen Clark and Company (KCC) yesterday puts the insured loss from Hurricane Ida close to $18 billion – including $40 million in the Caribbean and the rest from wind and storm surge losses in the US. Ea...

Hurricane Ida will be more of an earnings hit as opposed to a capital event for the insurance industry, A.M. Best posits in its latest commentary. The rating agency said that because a number of Louisiana writers are regional players with lower level...

Bermuda is home base for 14 of the world’s top 50 reinsurers, a new list published yesterday by global rating agency AM Best reveals. The list which reflects the latest available 2020 compilation, confirms the continued concentration of reinsurance e...

Chief Justice Narinder Hargun has agreed with the joint provisional liquidators (JPLs) in the appointment of representatives for different classes of creditors in the winding up proceedings of Northstar Financial Services (Bermuda) Ltd and Omnia Ltd....

Bermuda-based global financial services provider Apex Group Ltd appears on pace to complete a $2.07-billion (1.51-billion pound) acquisition of British asset management services provider, Sanne Group Plc. A joint statement said they reached an agreem...

Bermuda’s insurance regulators have created an advanced catastrophe bond registration process that puts the island light years ahead of the competition. Cat bond sponsors looking to locate such structures on the island can take advantage of streamlin...

A panel of Caribbean insurance executives exposed defects in catastrophe models, speculated on the need for a revamp of building codes and revealed problems for countries and their insurers in the region, including reduced access to US dollars. They ...