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On 1 January 2014, a number of amendments to Bermuda’s insurance legislation became effective. The main focus of the amendments is the Bermuda Solvency Capital Requirements (BSCR).

As the Solvency II Directive came into force on 1 January 2016, the grant of full equivalence to Bermuda prior to the 2015 year end provided comfort to commercial insurers and reinsurers operating from the Island.

On 31 July 2018, the Bermuda Monetary Authority published revised Bermuda Solvency Capital Requirement (BSCR) models and rules for commercial insurers.

For any organisation, personal information about customers, clients, employees and suppliers is a valuable asset. But it is also a responsibility.

Appleby acted as Bermuda counsel in the establishment of Meanwhile Services (Bermuda) Limited.

Bermuda - with its long history of not only providing first class financial and professional services but doing so within a 'gold standard' regulatory framework...

The Bermuda Insurance Amendment Act 2014, renamed the Insurance Amendment Act 2015 (Amendment Act), was passed in the Senate in February 2015.

The first element that I would mention is the breadth and depth of the support infrastructure on the island.

Following continued discussions with the EU's Code of Conduct Group and the OECD, Bermuda has passed amendments to its economic substance laws to more closely align Bermuda's regime ...

The Economic Substance Act 2018 (the "Act")1 requires Bermuda-based entities that are carrying on a "relevant activity" in a relevant financial period and entities claiming "non-resident entity" status under the Act to file an Economic Substance Declaration Form.

The new policy permits Limited Purpose Insurers (Captive Classes) to utilize recognized stablecoins for various critical functions, including premium collection, claims payment, and as part of their capital base.

Bermuda's re/insurance industry has displayed remarkable agility while adapting in response to the COVID-19 pandemic. Leading insurers and reinsurers remain open for business, and continue to...

The Bermuda Monetary Authority (BMA) has been reviewing Bermuda's group supervision regime over recent years with a view to updating and enhancing...

A well-run captive can be an effective risk management tool, reducing group insurance costs for the captive owner. However, the commercial rationale for incorporating and establishing a captive extends...

The Cayman Islands Legal Services Act and related Legal Services Regulations (the "LSA") is now fully in force, marking an important development in the regulation of legal services in respect of Cayman Islands law.

This Country Report provides the latest update on how Bermuda is positioning itself as the perfect base for top professionals seeking to embrace the emerging trend of home working.

In this FAQ, we delve into the revisions made to the Bermuda Insurance Code of Conduct and provide insights from an interview with George Jones, Executive Board Member, shedding light on the significance and implications of these changes.

Bermuda's economic substance regime has been brought into closer alignment with the regimes implemented by other jurisdictions named in the European Union's Code of Conduct Group's call in 2018 for substance laws.