News & Updates
View the latest Member notices and regulatory updates through the Members' only area.
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ABIR's Madeiros joins XL Group (Bermuda:Re+ILS, January 16, 2018)
XL Group has revealed that Leila Madeiros, senior vice president, deputy director and corporate secretary of the Association of Bermuda Insurers and Reinsurers (ABIR), will join the company in April as head of compliance & regulatory affairs, Bermuda...
Subsidiaries could help Bermuda reinsurers mitigate new tax changes: Analysts (Reinsurance News Jan 12, 2018)
The Buckingham Research Group (BRG) has said that Bermudian reinsurers could mitigate payments under the Base Erosion and Anti-Abuse Tax (BEAT, which is part of the newly approved tax bill, by establishing a new subsidiary. BRG recently held a conference call during which it discussed the potential impacts of the newly approved tax bill on the insurance and reinsurance sector.
Privacy rules tightened (Royal Gazette Dec 29, 2017)
The Government has tightened the law to ensure the real owenership of companies registered in Bermuda stays secret. The change was backed by MPs a week before David Burt, the Premier and Minister of Finance, said that Bermuda was "an open, transparent jurisdiction" in the wake of the massive "Paradise Papers" hack of information from island law firm Appleby...
Protectionism poses threat to reinsurers (Royal Gazette Dec 28, 2017)
The US tax overhaul is symptomatic of growing protectionism around the world threatening the global business model of Bermudian reinsurers. That is the view of Bradley Kading, outgoing president of the Association of Bermuda Insurers and Reinsurers, who added that provisions in new tax laws that discriminate against foreign reinsurers could spark a trade war between the US and the European Union...