A.M. Best Company

BestWeek: Bermuda to Strengthen Supervision Frameworks of Groups

Published in Health Business Week, March 19th, 2010

Bermuda's new top insurance regulator has set his sights on updating the island's regulation, including stepping up the supervisory framework for insurance groups in order to meet new international standards, according to BestWeek U.S./Canada.

The top objective for the authority and for Bermuda is achieving regulatory equivalence on the European Union front, Jeremy Cox, chief executive officer of the Bermuda Monetary Authority, told BestWeek U.S./Canada. "Probably the most critical objective that we have for this year is the implementation of group-wide supervision." Bermuda has fared well as a domicile, he said, noting the island had seen 42 new companies launched in...

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Source: Health Business Week (2010-03-19)

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