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A Bermuda Monetary Authority analysis has reported that the impact of cyber-risk across all industries has been heightened by globalisation, digitisation and the pandemic. The BMA said cyber is still a small three per cent of overall Bermuda gross wr...

The Bermuda Monetary Authority has posted for consultation its draft new Digital Asset Business Operational Cyber Risk Management Code of Practice along with revised Digital Asset Business Custody Code of Practice and Digital Asset (Cybersecurity) Ru...

A fraudulent e-mail targeting people in Bermuda’s financial services industries has been reported to local law enforcement after giving the impression that it is coming from the Bermuda Monetary Authority. The authority said it was made aware of it t...

Aanika Biosciences, an emerging American biotech company using microbial-based technologies to protect the safety and security of our food system, has been accepted into the Bermuda Monetary Authority’s Innovation Hub. The company said the programme ...

Against the backdrop of the threat of war in Ukraine, Bermuda’s financial services regulator adds three Russian nationals and five banks to a sanctions list on its website

Fintech company 24 Exchange Broker Limited has been licensed by the Bermuda Monetary Authority to begin operating as a digital asset service vendor. The company is a new affiliate of Bermudian-based 24 Exchange, which said the licence further cemente...

An insurance executive has effectively been barred from the local insurance industry for an indefinite period. The Bermuda Monetary Authority has banned Nicholas Mark Cooke from senior market roles and from conducting any regulated activity under the...

The Bermuda Monetary Authority has cancelled the insurance registration of Signify Insurance Ltd, a Class 1 insurer, for breaches of the Insurance Act 1978. The BMA said that exercising its powers to cancel the registration of the company under the I...

An international crypto financial services company is to service all non-US clients from the island after its Bermudian-based subsidiary company was granted a Class F digital assets business licence by the Bermuda Monetary Authority. New Jersey-headq...

The impact of Covid-19 on the Bermuda insurance market has been an “earnings” event affecting the insurers' income statements and not a capital event affecting their solvency positions, a Bermuda Monetary Authority report has said. But the BMA also s...

Ricardo Garcia, chief actuary at the Bermuda Monetary Authority, has been appointed to the executive committee of the International Association of Insurance Supervisors. He succeeds BMA chief executive officer Craig Swan in the role. Mr Garcia also s...

American fintech company AlphaPoint has announced its membership in the Bermuda Monetary Authority’s Innovation Hub. The innovation track was established by the BMA to operate as a platform for exchanging ideas and information around the digital tran...