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NEWS AND PRESS RELEASES

12 Apr 2021

BMA Introduces Innovation and ESG Subject Matter Expert Team

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) is increasing its focus on climate change matters with the introduction of a regulatory and supervisory team specialising in the licensing and supervi...Read More

15 Mar 2021

BMA Releases 2020 Climate Change Survey Report

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) published the results of its climate change survey today.Read More

10 Feb 2021

Public Warning - Fraud Alert

The Bermuda Monetary Authority (Authority and BMA) has been made aware of a fraudulent document being included in targeted social media messages. The fraudulent document, a “Certificate of Converting”, has misappropriate...Read More

09 Feb 2021

BMA Releases 2020 Captive Premiums

HAMILTON, BERMUDA – As of 31 December 2020, captive insurer gross premiums written held firm at approximately $40 billion, highlighting the Bermuda captive insurance market’s continued unrivalled global significance.Read More

08 Feb 2021

Press Release - BMA MoU Wyoming Division of Banking

HAMILTON, BERMUDA – The Bermuda Monetary Authority (BMA) and the Wyoming Division of Banking (WDOB) announced today their joint Digital Assets Memorandum of Understanding (MoU).Read More

16 Jan 2021

Press Release - Bank of Nevis Warning

The Bermuda Monetary Authority (the Authority) has been made aware of a fraudulent website at www.bankofnevis.com which falsely claims to be a crypto bank operating from an address in Bermuda and which falsely uses the n...Read More

05 Jan 2021

Bermuda Monetary Authority Cancels Insurance Registration of Economic Risk Insurance, Ltd.

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) has cancelled the insurance registration of Economic Risk Insurance, Ltd. (Company), a Class 3 insurer, for breaches of the Insurance Act 1978 (Insura...Read More

31 Dec 2020

Bermuda Monetary Authority Fines Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd.

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) has imposed civil penalties totalling $400,000 on Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. (the Companies) purs...Read More

22 Dec 2020

Revocation of Licence - Phoenix Law Chambers

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority) has revoked the corporate service business provider Licence (Licence) of Phoenix Law Chambers (PLC), a Corporate Service Provider (CSP), for breaches of the...Read More

16 Dec 2020

BMA Staff Appointed to IAIS Committee Leadership Positions

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) announced today the appointment of two of its staff to International Association of Insurance Supervisors (IAIS) committee leadership positions.Read More

29 Oct 2020

Bermuda Monetary Authority to Participate in Global Financial Innovation Network Cross-border Testing

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) announced today that, as part of its ongoing work with the Global Financial Innovation Network (GFIN), it will be taking part in GFIN’s invitation to...Read More

10 Oct 2020

Bermuda Monetary Authority’s Jeremy Cox Awarded Commander of the Order of the British Empire

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) announced today the commendation of its Executive Chair Jeremy Cox. Mr. Cox is being awarded a Commander of the Order of the British Empire (CBE) as p...Read More

22 Sep 2020

Cancellation of Registration - Phoenix CRetro Reinsurance Company Limited (Company)

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority) has cancelled the insurance registration of Phoenix CRetro Reinsurance Company Limited (Company), a Special Purpose Insurer (SPI), for breaches of the Insura...Read More

21 Sep 2020

Public Censure - Blue Nile Services Limited

HAMILTON, BERMUDA –The Bermuda Monetary Authority (Authority) has issued a Public Censure to Blue Nile Services Limited (Company), a money service business provider, for a number of breaches of the Proceeds of Crime (Ant...Read More

08 Sep 2020

Public Warning - Website Falsely Linked to BMA

The Bermuda Monetary Authority (Authority or BMA) has been made aware that an internet domain has been registered in the name of www.bmafinancier.com.Read More

01 Sep 2020

BMA Appoints Director Supervision (Insurance)

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) today announced the appointment of Gerald Gakundi to the position of Director, Supervision (Insurance).Read More

22 Jul 2020

2019 Annual Report Press Release

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) released its 2019 Annual Report today, reflecting on its five decades of service to Bermuda’s financial sector and highlighting the achievements of it...Read More

12 Jun 2020

PUBLIC WARNING – QS INTERNATIONAL LIMITED

HAMILTON, BERMUDA – On 6 June 2020, the Bermuda Monetary Authority (the Authority) observed that QS International Limited on its webpage, www.qsfingold.com, falsely claimed that it had been licensed by the Authority as a...Read More

23 Mar 2020

BMA Coronavirus (COVID 19) Notice to Industry

As we continue to monitor and respond to the rapidly changing situation caused by the Coronavirus (COVID 19), the BMA has been implementing protective measures to ensure the safety of our staff, their families, and exter...Read More

17 Feb 2020

BMA 50th Anniversary Celebrating 50 Years. Series 5: Breaking New Ground

The Bermuda Monetary Authority’s (BMA) 50th Anniversary has come to a close. With this fifth and final article, we highlight the most recent decade of the Authority’s incredible impact on Bermuda’s financial landscape.Read More

22 Jan 2020

BMA Releases 2019 Captive Number - Registration Statistics

BERMUDA MONETARY AUTHORITY RELEASES 2019 CAPTIVE NUMBER / REGISTRATION STATISTICSRead More

08 Jan 2020

BMA Board Appoints Craig Swan Deputy Chief Executive Officer

The Bermuda Monetary Authority’s Board of Directors announced today that Craig Swan has been appointed Deputy Chief Executive Officer (Deputy CEO) of the Authority, effective January 1, 2020. The Deputy CEO position was...Read More

10 Dec 2019

NAIC Grants Bermuda Reciprocal Jurisdiction Status

The National Association of Insurance Commissioners (NAIC) announced today that Bermuda has been granted Reciprocal Jurisdiction status effective 1 January 2020. Additionally, the NAIC has completed its five-year re-eval...Read More

31 Oct 2019

BMA Staff Donation Drive Benefits Lefroy House

Staff from the Bermuda Monetary Authority (BMA or Authority) recently participated in a donation drive campaign and Charitable Friday denim day to benefit Lefroy House, a government-owned, elder care community in Sandys...Read More

14 Oct 2019

Bermuda Monetary Authority Celebrating 50 Years. Series 4: Positioning for the Future

Positioning for the Future

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

30 Sep 2019

World Investor Week - Smart Investor Tips

A smart investor:

Verifies that an investment professional is licensed by Bermuda Monetary Authority (BMA):Read More

30 Aug 2019

Take Home a Special Piece of Bermuda's History

HAMILTON, BERMUDA – The Bermuda Monetary Authority (the BMA) has marked its 50th Anniversary by releasing a special commemorative coin.Read More

22 Aug 2019

BMA Food Drive Campaign Benefits The Eliza DoLittle Society

HAMILTON, BERMUDA – Staff from the Bermuda Monetary Authority (the BMA or the Authority) recently participated in a food drive campaign and dress down denim day to benefit The Eliza DoLittle Society, a local charity whos...Read More

21 Aug 2019

Bermuda Monetary Authority Celebrating 50 Years. Series 3: Supervisory Powers

Supervisory Powers

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 repu...Read More

14 Aug 2019

BMA 'Day of Giving' with Family Centre

HAMILTON, BERMUDA – In the lead up to the 2019 Cup Match holiday, employees of the Bermuda Monetary Authority (the BMA or Authority) partnered with the Family Centre to help raise funds for their specialised programmes a...Read More

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