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The Bermuda Monetary Authority (BMA) last year registered 64 new insurers and reinsurers — one down on 2014. A total of 22 of the new companies are limited purpose insurers or captives, six up from the 16 registered the previous year. Shelby Weldon, ...

A director of the Bermuda Monetary Authority (BMA) has quit his post. E Barclay Simmons stepped down after nearly nine years on the board of the Island’s financial regulator. Mr Simmons, who is also the manager of ASW Law, resigned from the board due...

Bermuda has taken a step closer to complying with European Union equivalency rules. An updated report from the European Insurance and Occupational Pensions Authority (EIOPA) acknowledges substantial amendments to Bermuda regulations governing commerc...

Bermuda’s business regulator has linked up with the US National Association of Insurance Commissioners (NAIC) to improve the exchange of information. The Bermuda Monetary Authority (BMA) has signed a new memorandum of understanding with the associati...

Jeremy Cox, the chief executive officer of the Bermuda Monetary Authority, was paid $500,000 last year, with a possible bonus of up to 30 per cent extra. Mr Cox, who has stewarded the BMA for the past five years, has signed on for a second five-year ...

Bermuda’s insurance marketplace attracted 45 new companies during the first half of this year — some of them major players. Financial regulator the Bermuda Monetary Authority said this was on a par with 2014, when 44 new insurers and intermediaries w...

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...