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Bermuda Monetary Authority

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U.S. RE CORP. International Ltd.: License Revocation

May 26, 2021 - Public Notice by the Bermuda Monetary Authority that it has cancelled the insurance broker registration of U.S. RE CORP. International Ltd. for regulatory breaches.

Priosma Ltd.: License Revocation

May 26, 2021 - Public Notice by the Bermuda Monetary Authority that it has cancelled the insurance broker registration of Priosma Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that, in the Directors Register maintained by the Government of Bermuda, the directors of Priosma Ltd. are identified as Graham McKean, of Kent, England, and Mark D. Terrey, of Bermuda.

Greins Global Ltd.: Winding Up Notice

April 20, 2021 - Public Notice by the Bermuda Monetary Authority that it "successfully petitioned the Supreme Court of Bermuda to wind up Greins Global Ltd.", which was described as "a Class 1 insurer". Editor's Note: The Directors Register section of the Government of Bermuda's website identified the sole director of Greins Global Limited as Randeep S. Grewal, of Hong Kong.

Economic Risk Insurance, Ltd.: License Cancellation

January 05, 2021 - Press Release by the Bermuda Monetary Authority announcing the cancellation of the insurance registration of Economic Risk Insurance, Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that, in the Directors Register maintained by the Government of Bermuda, the directors of Economic Risk Insurance Ltd. are identified as James Michael Temple, of Sacramento, California, USA, and Richard Daley, of Bermuda.

Crown Global Life Insurance Ltd. et al: $400K Fine

December 31, 2020 - Press Release by the Bermuda Monetary Authority announcing that it has imposed a fine of $400,000 on Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert in the "Directors Register" maintained by the Government of Bermuda showed that Crown Global Life Insurance Ltd. and Crown Global Life Insurance (Bermuda) Ltd. have the same directors: Terria Ladawn Godwin, of the Cayman Islands; Carol Feathers, of Bermuda; Christopher John Calise, of Miami Beach, Florida, USA, and Perry A. Lerner, of Philadelphia, Pennsylvania, USA. On the Crown Global group's website at crownglobalinsurance.com, it is stated that "Crown Global empowers high net worth individuals, institutions and investment fund managers with products and services to enhance their investments", its "Executive Leadership Team" comprises Perry Lerner, "Chairman & CEO"; Christopher Calise, "President & CFO"; Damien Rios, "Senior Vice President & General Counsel"; Riccardo Gambineri, "Senior Vice President"; Thomas Berry, "Chief Actuary"; Terria Godwin, "Vice President, Finance & Administration", and Suzanne Reynolds, "Assistant Vice President, Finance & Administration", and it has offices in Delaware, Miami Beach, Zurich, Bermuda, and the Cayman Islands.

Phoenix Law Chambers: License Revocation

December 22, 2020 - Public Notice by the Bermuda Monetary Authority that it has "revoked the corporate service business provider" license of Phoenix Law Chambers.

Capital Management of Bermuda Ltd. et al: Enforcement Actions

October 16, 2020 - Notice by the Bermuda Monetary Authority regarding Enforcement Actions against Capital Management of Bermuda Ltd., Excelsior Insurance Ltd., Northstar Financial Services (Bermuda) Ltd., PB Life and Annuity Co. Ltd., and Omnia Ltd.

PB Life and Annuity Co. Ltd.: 'Winding Up' Notice

October 01, 2020 - Notice by the Bermuda Monetary Authority that it has petitioned PB Life and Annuity Co. Ltd. into provisional liquidation. Editor's Note: Research by OffshoreAlert showed that the Directors Register on the Government of Bermuda's website identified the directors of PB Life and Annuity Co. Ltd. are Scott Alan Boug, of Bermuda, and Christopher Erich Herwig, of Raleigh, North Carolina, USA.

Omnia Ltd.: 'Winding Up' Notice

October 01, 2020 - Notice by the Bermuda Monetary Authority that it has petitioned Omnia Ltd. into provisional liquidation. Editor's Note: Research by OffshoreAlert showed that the Directors Register on the Government of Bermuda's website identified the directors of Omnia Ltd. are Scott Alan Boug, of Bermuda, and Christopher Erich Herwig, of Raleigh, North Carolina, USA.

Northstar Financial Services (Bermuda) Ltd.: 'Winding Up' Notice

October 01, 2020 - Notice by the Bermuda Monetary Authority that it petitioned Northstar Financial Services (Bermuda) Ltd. into provisional liquidation. Editor's Note: Research by OffshoreAlert showed that the Directors Register on the Government of Bermuda's website identified the directors of Northstar Financial Services (Bermuda) Ltd. as Scott Alan Boug, of Bermuda, and Christopher Erich Herwig, of Raleigh North Carolina, USA;

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.