Managers of Wealth Offshore

Innovative war risk insurance facility launched for Ukraine via Guernsey structure

The collaboration will help to revitalise the war risk insurance market in Ukraine and boost the provision of reinsurance capacity to private-sector insurers to address the ongoing challenges posed by the war.

Trio fighting GFSC’s Providence sanctions fail in bid to stay anonymous

Among this was an investigation by the GFSC into the Guernsey links to the Group.

BTA board given ultimatum over workplace complaints

Additionally, Mr Darrell demanded financial reports into the independent body’s employee payouts and spending.

Interest rates for late payments in commercial transactions decrease to 11.15%

The rate was 12.5% last year

Money market report for the week ended January 3, 2025

Information on ECB monetary operations and the domestic Treasury bill market

Reminder for companies to file annual validations

The annual validations must be filed by 28 February using Guernsey Registry's online services portal.

Grant Thornton deal closes

Grant Thornton Ireland employs approximately 2,700 people in offices in Bermuda, Ireland, Isle of Man and Gibraltar.

BMA: new approach required for asset-intensive insurance

The 24-page document titled The Evolution of Asset-Intensive Insurance updates a previous paper, released in December 2023 — Supervision and Regulation of Private Equity Insurers in Bermuda.

‘We are anxious to reduce rates’

Banks respond to calls to cut interest rates but urge patience and understanding

Changes to the BVI business companies regime in force

Changes to the BVI business companies regime introduced, the BVI Business Companies (Amendment) Act

MFS Capital shares suspended from the JSE

The JSE said MFS failed to submit the audited reports ending June 2024 within a six-month timeline to the market.

BMA report highlights industry’s use of catastrophe modelling

The BMA said the vast majority of insurers model catastrophe risk by considering external reinsurance explicitly, either for some treaties or separately.

PDC Corporate and Accounting Services expands offerings and opens new Nassau office

PDC also forms foundations and non-profit organizations and offers liquidation services.

BMA to consult on changes to IILT and IIGB regulatory regimes

The BMA introduced the Class IIGB and Class IILT licence classes under the Insurance Act 1978 in 2019 and 2022, respectively.

PIPA – Are Fund Entities “In-Scope”?

Each fund must appoint a Privacy Officer.

Company hit with $600,000 penalty for regulation failures

The statement said Meritus had since remediated the identified breaches “to the satisfaction of the authority”.

Central Bank expects 2025 to be a good year for Malta's economy

Bank revises GDP projections up and says wages will grow faster than in 2024

Fidelis secures $375m of collateralized reinsurance via latest cat bond

The Class A and Class B Notes provide Fidelis with approximately four years of protection

BMA Levies Civil Penalties On Meritus Trust

The Authority took into consideration the nature of the breaches as well as comparable cases in determining the appropriate level of civil penalties to impose.

Regulator received £1.6m income from civil penalties

FSA says it’s committed to support the island’s reputation as a successful place to do business

Regulation, Risk & Compliance