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Bermuda has been awarded provisional equivalence with tough new rules on business solvency by the European Commission. The Island joins Australia, Brazil, Canada and the US in a delegated decision by the Commission under the Solvency II regulations, ...

A Bermuda Monetary Authority (BMA) veteran has been appointed the organisation’s chief operations officer. Shanna Lespere, who has worked in a variety of roles in her more than a decade with the Island’s financial watchdog, moves from her current pos...

Six insurance-related registrations and one intermediary were confirmed by the Bermuda Monetary Authority during April. Among them were Parex Bermuda (Insurance) Ltd, a Class 1 insurer, Quantum Insurance Company Ltd, a Class 2 insurer, and Novae Berm...

Insurance and reinsurance companies in Bermuda recorded gross written premiums of $163 billion in 2013, an increase of 35.3 per cent year-on-year. That performance underlines the strength of the Island in the marketplace, according to the Bermuda Mon...

Twelve new insurance-related registrations were logged by the Bermuda Monetary Authority (BMA) last month, with eleven of the applications being approved and one being deferred. Among the registrations confirmed was ABR Reinsurance Ltd, a Class 4 ins...

Tough new rules could mean international insurance bosses having to live in Bermuda or spend more time here, according to experts. And big firms may also have to look at the residence of members of their boards — and make sure that decisions about Be...

The head of Argentina’s tax authority has petitioned the Bermuda Government for information after it demanded embattled bank HSBC return $3.5 billion in offshore funds. Ricardo Echegaray of tax body AFIP — at a briefing at the Argentinian Embassy in ...

The Bermuda Monetary Authority plans to get more involved with Government in ensuring the Island’s financial stability — but it will steer well clear of politics. That was the firm message from chief executive officer Jeremy Cox, who was speaking aft...

Bermuda and other international financial centres are “routinely attacked and demonised” in Europe, according to Bermuda’s top financial regulator. Jeremy Cox, chief executive officer of the Bermuda Monetary Authority, said in opening remarks in the ...

Bermuda’s financial regulator registered 89 new insurance entities last year and saw strong growth in the life reinsurance sector. The Bermuda Monetary Authority (BMA) said four new Class E insurers, each required to have total assets of more than $5...

Bermuda has taken a step closer to getting in line with EU rules on insurance firms’ capital and solvency. The European Insurance and Occupational Pension Authority (EIOPA) endorsed key aspects of the Island’s insurance and reinsurance regulatory reg...