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NEWS AND PRESS RELEASES

17 Apr 2019

BMA Website Quick Glance

Welcome to the new Bermuda Monetary Authority website!

Whether you are on mobile device or desktop, this updated website will provide you with a user-friendly and intuitive experience. This new website fea...Read More

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16 Apr 2019

Warning - Mangrove Corporate Services Limited

HAMILTON, BERMUDA – On 9 April 2019, the Bermuda Monetary Authority (the Authority) observed that Mangrove Corporate Services Limited published a legal notice in The Royal Gazette stating that it was acting on behalf of...Read More

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07 Mar 2019

BMA Celebrates 50th Anniversary by Expanding Community Outreach in 2019

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA), in honour of its five decades of service to Bermuda this year, is expanding its community outreach throughout 2019. The BMA is partnering with a number of the isl...Read More

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22 Feb 2019

BMA Fines Colonial Pension Services Ltd. $200K

HAMILTON, BERMUDA - The Bermuda Monetary Authority (the Authority) has imposed a civil penalty on Colonial Pension Services Ltd. (the Company), a local entity licenced under the Investment Business Act 2003 (the Act) in...Read More

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20 Feb 2019

Bermuda Monetary Authority Celebrating 50 Years

As the Bermuda Monetary Authority (BMA) celebrates 50 years in 2019, we take a look back at the last five decades. From providing sound policy advice to pushing Bermuda forward as a reputable place to conduct business, t...Read More

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13 Feb 2019

BMA Releases 2018 Captive Number

HAMILTON, BERMUDA – The Bermuda Monetary Authority (BMA) had a total of seven-hundred and eleven (711) active captives (re)insurance licences on its register on 31 December 2018, totalling captive premiums at approximat...Read More

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31 Jan 2019

BMA Joins Global Financial Innovation Network

HAMILTON, BERMUDA – The Bermuda Monetary Authority (BMA) today announced that it has joined the Global Financial Innovation Network (GFIN). GFIN is a group of 29 international organisations committed to supporting financ...Read More

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28 Jan 2019

(Re)insurance Registrations on the Rise-Bermuda Monetary Authority

HAMILTON, BERMUDA – The Bermuda Monetary Authority (BMA) recorded a year-on-year increase in new (re)insurance registrations, from 58 in 2017 to 75 in 2018.Read More

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17 Jan 2019

Bermuda Monetary Authority - New Board Members Announced

HAMILTON, BERMUDA – The Bermuda Monetary Authority (BMA) is announcing changes to the Board, which includes a new Executive Chair and Deputy Chair.

After nine years on the BMA Board, six as Chair, the Hon....Read More

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21 Dec 2018

BMA Releases Alternative Capital Report 2018; Captive Report 2018

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA or Authority) today released its
first annual BMA Alternative Capital Report 2018.Read More

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18 Dec 2018

BMA Publishes Digital Asset Code of Practice for Consultation

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA or Authority) has released a draft
Code of Practice for Digital Asset Custody (the Code) for consultation that prescribes measures to ensure a
high le...Read More

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03 Dec 2018

BMA Releases Latest Cat Risk in Bermuda Report

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA or Authority) has released its
third annual ‘Catastrophe Risk in Bermuda’ Report.Read More

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20 Sep 2018

BMA Outlines Supervisory Approach To Money Laundering And Terrorism Financing Risks In New Paper

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA) has published an occasional
paper sharing its experience in developing a framework for identifying, assessing and understanding
money laundering (ML)...Read More

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17 Sep 2018

BMA Releases Licensing Requirements For Digital Asset Businesses

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA or Authority) has released an
Information Bulletin outlining what documentation is required when submitting an application for a digital
asset busines...Read More

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27 Aug 2018

BMA Hires Senior Advisor, Fintech

HAMILTON, BERMUDA - As stated in the Bermuda Monetary Authority's (BMA) 2018 Business
Plan, the BMA is committed to meeting the evolving and complex financial needs for Bermuda and
maintaining our recogniti...Read More

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09 Jul 2018

BMA To Serve As Vice Chair On IAIS Financial Crime Task Force

HAMILTON, BERMUDA - The Bermuda Monetary Authority's (BMA) Chief Enforcement Officer Garrett
Byrne has been appointed Vice Chair of the International Association of Insurance Supervisors' (IAIS)
Financial C...Read More

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03 Jul 2018

BMA Cancels Registration of Intrepidus Insurance Services (Bermuda) Limited

HAMILTON, BERMUDA -The Bermuda Monetary Authority (the Authority) has cancelled the insurance
brokerage registration of Intrepidus Insurance Services (Bermuda) Limited (the Company) pursuant to the
provisio...Read More

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17 Apr 2018

BMA Highlights Bermuda Market at RIMS Conference

HAMILTON, BERMUDA - 2017 saw increased activity for Bermuda Monetary Authority (BMA or
Authority) with an emphasis on developing global regulatory standards and continued cooperation with
other internationa...Read More

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14 Apr 2018

BMA Publishes its Latest Regulatory Update - March 2010

The Bermuda Monetary Authority has published a Consultation Paper outlining proposals to enhance its existing Code of Conduct for investment providers. The revised Code incorporates more explicit guidance to investment p...Read More

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02 Apr 2018

BMA Seeing Increased Reinsurance Registrations

HAMILTON, BERMUDA - The Bermuda Monetary Authority (BMA) has experienced a recent uptick in
(re)insurance registrations.Read More

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07 Feb 2018

Bermuda Captive Market Maintains Attractiveness in 2017

HAMILTON, BERMUDA - Bermuda Monetary Authority (BMA) had a total of 739 active captive insurance licences on its register on 31st December 2017. Seventeen new captives were registered in 2017 (compared to 13 in 2016).Read More

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24 Jan 2018

Bermuda Monetary Authority To Serve As Co-Vice Chairs On New IAIS Committees

HAMILTON, BERMUDA - Two members of Bermuda Monetary Authority's (BMA) senior management
team will serve as Co-Vice Chairs (the first time at a Committee level) for the International Association of
Insurance...Read More

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17 Jan 2018

Risks of Initial Coin Offerings

HAMILTON, BERMUDA - Bermuda Monetary Authority (BMA) is committed to providing a regulatory environment for Bermuda's financial services industry that both protects stakeholders and supports innovation.Read More

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06 Dec 2017

BMA Panel Discusses Financial Stability 10 Years After Financial Upheaval

HAMILTON, BERMUDA - A panel of experts in the financial services world recently addressed the topic: 10 years after the financial upheaval: where does Financial Stability now stand? The occasion was a Bermuda Monetary Au...Read More

04 Dec 2017

BMA Captive-SPI Market Report Released

HAMILTON, BERMUDA - Statistics on Bermuda's captive insurance and Special Purpose Insurers (SPIs) market are now available in a published report.Read More

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30 Nov 2017

Bermuda Foreign Portfolio Holdings Increase in Value

HAMILTON, BERMUDA -The value of Bermuda's foreign portfolio investment assets increased by 8% in 2016 as a result of growth in the insurance sector's total assets.Read More

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28 Nov 2017

First BMA Macroprudential Risk-Annual Statutory Filings Report Released

HAMILTON, BERMUDA - Bermuda (re)insurers remained profitable and well capitalised in 2016, despite soft pricing, an abundance of capital and competition from the Insurance Linked Securities market according to a new Berm...Read More

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21 Nov 2017

Bermuda Reinsurers Paid Over $200 Billion to US Customers Since 1997

HAMILTON, BERMUDA - Bermuda reinsurers paid out US$208.7 billion to US policyholders and cedants for large catastrophes, related property insurance and general liability losses over the past 20 years, according to commer...Read More

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02 Nov 2017

BMA Releases Second Annual Cat Risk Report

HAMILTON, BERMUDA - The resilience of Bermuda's (re)insurance sector to withstand potential catastrophic events strengthened year-on-year, according to a new Bermuda Monetary Authority (BMA) Report.Read More

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31 Oct 2017

Bermuda Monetary Authority Hosts Shadow Banking Workshop

HAMILTON, BERMUDA - Bermuda Monetary Authority (Authority) hosted the Financial Stability Board's (FSB) Regional Consultative Group of the Americas' (RCGA) Shadow Banking Workshop on 25th and 26th of October, 2017 at Ham...Read More

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