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Island financial centre says more certainty in its tax regime is an important factor driving its reinsurance growth

It’s official: Bermuda has Solvency II third-country equivalency, as of today. That means the European Union considers the standard of the island’s insurance regulation to be equivalent to its own. In November last year, the European Commission recom...

On January 1 Bermuda will be handed a golden opportunity to further differentiate itself as a leading jurisdiction for insurance and reinsurance as Solvency II equivalence ‘goes live’. From that moment, Bermuda (re) insurance companies will be placed...

LONDON (Bloomberg) — Aspen Insurance UK Ltd, Amlin Plc, Prudential Plc, Aviva Plc, Legal & General Group Plc and Markel International Insurance Company Ltd are among large UK insurers to win Bank of England approval of the models they use to calculat...

Bermuda has won a coveted financial gold star from the European Union. The Island has been awarded full equivalence under the tough EU Solvency II regulations by the European Commission after six years of work. The move means Bermuda and Switzerland ...

A final report by a Euro regulatory body has backed Bermuda’s bid for “third-country equivalence” with the EU’s Solvency II rules. EIOPA, the EU’s insurance regulators, continued to favour Bermuda in the final version of their report, submitted to th...

Bermuda’s insurance regulation regime for big commercial re/insurers is largely equivalent with the new European Solvency II regulations, according to a consultation document published yesterday by European assessors. However, more enhancements need ...

Bermuda will lose some of its regulatory flexibility in gaining “third-country equivalence” with Solvency II so it needs to be sure that equivalence will really mean equivalence in practice. That’s the view of XL Group chief executive officer Mike Mc...

One of the major challenges faced by the Bermuda Monetary Authority is to how to meet the needs of the large Class 4 commercial re/insurers as well as those of captive insurers, according to Marsh IAS Management (Bermuda) managing director David Ezek...

Solvency II will nurture the conditions for “systemic risk” in the insurance industry, according to the chief executive officer of Bermuda-based re/insurer Hiscox. Speaking at the Insurance Day Summit yesterday, Bronek Masojada questioned the industr...

Politics is about the only hurdle standing in the way of Bermuda achieving Solvency II equivalence, believes Charles Dupplin, CEO of Hiscox Bermuda. Speaking at the Insurance Day Summit held at the Fairmont Hamilton Princess yesterday, Mr Dupplin sai...