12/21/2022
CIBC FirstCaribbean ends fiscal 2022 up 40% year over year
The bank closed fiscal 2022 with strong results, reporting net income of $51.5 million in the fourth quarter, up 47 percent from the prior year’s quarter of $35.1 million.
Comment, Analysis & Research
12/19/2022
NBD receives ECCB Bank of the Year award for 2022
Of the eight participating banks, five banks were shortlisted for the interview stage which formed 30 per cent of their overall score.
12/19/2022
Economist predicts “much of the same” for 2023 with lower economic growth
My expectation is 2023 is going to be fairly the same as 2022 even if the growth is slower
12/16/2022
Double award for Standard Bank’s International Fiduciary Services Team
The awards ceremony was held on 16 November at a glittering event in London.
12/16/2022
HSBC Malta wins corporate award at the National Volunteer Awards
Event recognises people or entities who make a positive contribution to society
12/12/2022
Pandemic a mixed bag for remote workers - study
A majority of workers in IT and telecommunications suffered a regression in their physical health as the COVID-19 pandemic forced them into remote working
12/05/2022
Amber Farrington Recognised as a 2022 Rising Star by the Bermudian Magazine
Thirteen Rising Stars, all under the age of 30, were recognised by The Bermudian Magazine.
12/02/2022
Lloyd’s chief in Bermuda to build bridges with London
In April, The Royal Gazette reported that Bermuda reinsurers were monitoring ballooning property insurance rates in Florida, downgrades to the state’s property insurers precipitated in part by insurance fraud and expensive litigation.
12/01/2022
Fractures in the family: Advising wealthy families in the midst of conflict
Recent upheavals sweeping the globe, including significant changes in social and familial structures and technological, political and economic shifts, have quite obviously also stoked the fire of underlying family tensions with incendiary results.
12/01/2022
HSBC could lose 100 staff in new round of branch closures
The bank said it has seen a substantial decline in customers coming into its branches over the last five years, but especially since the pandemic.
11/29/2022
BMA: supervision of AI/ML systems to be risk-based
In the survey, conducted late last year, insurance groups reported that 68 per cent were using AI/ML systems.
11/29/2022
S&P rating a “shot in the arm”, says governance reformer
The ratings, a nod to the speed of the economic reconsolidation and the economic policies of the government, is an important counterbalance to the recent Moody’s downgrade.
11/29/2022
Connection is Key – November/December Update from Allan Wood
For the first time, we travelled outside our US ‘home’ city with a series of events in Chicago, Miami, and San Francisco.
11/24/2022
Cooper Brouard reports ‘house markets remain lively’
The numbers of homes available to buy on the Open Market is limited, particularly at the entry price level, but the high volume of applicant enquiries from those looking to relocate in 2023 is very encouraging.
11/24/2022
Bankman-Fried's FTX, senior staff, parents bought Bahamas property worth $300 mln
FTX, which filed for bankruptcy earlier this month after a rush of customer withdrawals, did not respond to a request for comment. Bankman-Fried did not respond to requests for comment.
11/23/2022
FTX bankruptcy jeopardizes Bahamas’ digital assets hub dream, says lawyer
“Before a company, especially if it’s going to be a digital exchange, puts its headquarters in a country… [they establish it] once they have certainty about how that country is classifying all these different products,” Zagaris sa
11/23/2022
Bermuda Represented at International Private Client Forum in Lake Como, Italy
Bermuda’s attendance at what is referred to as the world’s preeminent gathering of private client lawyers builds on three major in-person high-net-worth services events that returned to Bermuda this summer, the first since 2019.
11/23/2022
Top lawyer tells inside story of how insurance came to Bermuda
It also includes content of a more personal nature, including the investigation into AIG by Eliot Spitzer, the attorney general of New York.
11/23/2022
AM Best: Bermuda, Cayman & Barbados captives outperforming US rivals
In addition, the BCIB captives’ operating results correlate highly with those of captives domiciled in the United States and continue to outpace those of their peers in the commercial casualty composite.
11/22/2022
BOB chief: Bahamas ‘long way from default’
Tribune Business understands the impact for the BISX-listed institution could have been close to $1.5m of the $1.6m hit that the BISX-listed institution took on non-loan financial assets.