Bermuda: An Overview of Insurance: Contentious
There has been a recent increase in policyholder disputes involving coverage challenges by (re)insurers in the context of Bermuda high-value, excess-of-loss policies. This is, in part, due to Bermuda’s commercial (re)insurers facing a marked and sustained rise in the volume of claims, incurring claims costs globally of BMD1.1 trillion from 2016 through 2024. The massive volume and quantum of claims can be attributed in part to the significance of the Bermuda (re)insurance market in the global economy, as well as Bermuda’s exposure to catastrophic losses caused by natural disasters over this period. Bermuda’s increased exposure to global (re)insurance risks has naturally resulted in an increase in complex claims and coverage disputes.
Risks for Transactions and Directors in Financially Distressed Businesses (Jersey)
Our experts address the legal and practical considerations in Jersey for a company director where that company is in financial distress and may subsequently enter insolvency proceedings
Cayman Islands Regulatory Round Up - Winter 2025/26
The round-up provides a concise yet thorough summary of regulatory developments relevant to financial service providers (FSPs) and other stakeholders in the Cayman Islands. It highlights key legislative changes, publications by the Cayman Islands Monetary Authority (CIMA), updates on financial sanctions, and anticipates upcoming changes through "horizon scanning”. Links to the underlying CIMA publications, as well as related Appleby published briefings and e-alerts are available throughout this document. The information provided is “as of” 28 May 2025.
The Cost of Dissent: Managing Liquidity and Statutory Validity in Major Mauritian Transactions
Mergers and Acquisitions (M&A) are intricate manoeuvres that demand more than just commercial synergy; they require absolute statutory precision.
The Global - Insights In Review
The Global sees us share updates and insights from across our network of international offices on the latest legislative news, trends or developments impacting the corporate sector.
Pay transparency heading Bermuda’s way?
The culture of secrecy with respect to pay traditionally found in workplaces may soon experience a shift, as global lawmakers and governments have enacted or moved toward enacting legislation to mandate greater pay transparency.
Bermuda Monetary Authority: Modern, Thoughtful and Competitive
The Bermuda Monetary Authority (BMA) has signaled a clear direction for the future of insurance supervision in Bermuda by the release of its latest Notice on Regulatory Burden Reduction for Better Policyholder Outcomes (Notice).
Receivership - Does a fixed charge rank ahead of a banking or fiscal privilege?
The question of priority ranking between the different types of securities in Mauritius is not purely technical. It is a fundamental question at the very heart of creditor protection, enforcement and the stability and security of secured lending.
Bermuda Monetary Authority 2026 Business Plan: Overview & Expertise – Banking
Bermuda is not considered an international banking center and only banks licensed by the Bermuda Monetary Authority (BMA) under the Banks and Deposit Companies Act 1999 (BDCA) are entitled to undertake banking businesses in or from Bermuda. As banking is defined as deposit taking (as opposed to lending), international banks are generally able to lend to Bermuda-based borrowers subject to applicable restrictions relating to carrying on business in Bermuda.
Bermuda Monetary Authority 2026 Business Plan: Overview & Expertise – Insurance (Captives)
Bermuda is one of the leading captive insurance markets in the world with over 600 registered captive insurers writing an impressive ~$30 billion of annual gross written premiums.
Bermuda Monetary Authority 2026 Business Plan: Overview & Expertise – General Corporate
The Bermuda Monetary Authority (BMA), an independent body that has been in existence since 1969, is an integrated regulator and supervisor responsible for the licensing, supervision and regulation of financial institutions in Bermuda. The BMA’s mandate includes entities conducting insurance, deposit taking, investment and trust business. The BMA conducts risk-based supervision and enforcement, including enforcing anti-money laundering and counter-terrorist financing standards. The BMA sets prudential rules, issues codes of conduct and devises industry guidance to ensure the jurisdiction adheres to international standards.
