Public Notice by the Bermuda Monetary Authority that it has imposed civil penalties totaling $900,000 on insurer Acadia Life Limited for regulatory breaches.
Public Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up The Wine Investment Fund Limited" for regulatory breaches.
Public Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up British Steamship Protection and Indemnity Association (Bermuda) Limited", described as "a wholly owned subsidiary of British Steamship Protection & Indemnity Association Limited, a company incorporated in the Republic of the Marshall Islands", for regulatory breaches.
Public Notice by the Bermuda Monetary Authority that it has canceled the "non-licensed person" registration of HBC Management Limited for regulatory breaches.
Public Notice by the Bermuda Monetary Authority that it "has successfully petitioned the Supreme Court of Bermuda to wind up General Professional Indemnity Ltd."., with Joel Edwards of EY Bermuda, and Eleanor Fisher of EY Cayman, appointed as Joint Provisional Liquidators.
Press Release by the Bermuda Monetary Authority that it has imposed penalties totaling $981,000 on Conyers Corporate Services (Bermuda) Limited for regulatory breaches.
Press Release by the Bermuda Monetary Authority that it has imposed penalties totaling $1,118,500 on Conyers Corporate Services (Bermuda) Limited for regulatory breaches.
Press Release by the Bermuda Monetary Authority that it has disqualified Nicholas Mark Cooke, a citizen of the United Kingdom, after concluding he was "not a fit and proper person to perform any functions in relation to regulated activity under the Insurance Act".
Press Release by the Bermuda Monetary Authority that it has "cancelled the insurance registration of Signify Insurance Ltd., a Class 1 insurer, for breaches of the Insurance Act 1978".
Public Warning by the Bermuda Monetary Authority against Think Capital Limited, part of the "ThinkMarkets group of companies", which "falsely claimed to have a licence issued by the Bermuda Monetary Authority" and which, when contacted by the BMA, claimed that "the statement was made in error and that, instead, it should have stated that it had been issued a licence by the Cayman Islands Monetary Authority". Editor's Note: On its website at www.thinkmarkets.com, ThinkMarkets claims to operate "a premium multi-asset online brokerage with headquarters in London and Melbourne and hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America", and identifies group companies as TF Global Markets Int Limited, of the Seychelles; TF Global Markets (UK) Limited, of England; TF Global Markets (Aust) Limited, of Australia; TF Global Markets (South Africa) (Pty) Ltd., of South Africa; Think Capital Limited, of Bermuda, and TFG (Payments) Limited, of England. Research by OffshoreAlert also discovered other group companies, including one in the Cayman Islands called TF Global Markets (International) Ltd., which is identified on CIMA's website as having received a "Securities - Full" license on April 12th, 2021.
Press Release by the Bermuda Monetary Authority announcing that it has imposed "civil penalties" totaling $1.7 million on Allianz Life Bermuda Limited for regulatory breaches, including the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, and that the company has agreed to go into liquidation. Editor's Note: Research by OffshoreAlert showed that, on the Allianz Group's website, the address for Allianz Life Bermuda Limited is given as "105, Allianz SNA Bldg 56, Jisr el Bacha Hazmieh Beirut, Lebanon P.O.Box: 16-6516".
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.
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.
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.
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.
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.
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.
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;
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.
Public 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.
Press Release by the Bermuda Monetary Authority announcing that it has "cancelled the insurance registration of Phoenix CRetro Reinsurance Company Limited" for regulatory breaches. Editor's Note: Research by OffshoreAlert in the "Directors Register" maintained by the Government of Bermuda showed that the directors of Phoenix CRetro Reinsurance Company Limited were identified as Nicholas Mark Frost, of Bermuda; Janita K. Burke, of Bermuda; Timothy Roger Riddell, c/o Randall & Quilter Investment Holdings, of England, and Kirill Savrassov, of London, England.
Press Release by the Bermuda Monetary Authority announcing a "Public Censure" against Blue Nile Services Limited, described as "a money service business provider", for regulatory breaches. Editor's Note: Research by OffshoreAlert in the "Directors Register" maintained by the Government of Bermuda showed that the directors of Blue Nile Services Limited were identified as Sosina G. Mekonnen, Melody C. Bean, Ronald Simmons, and Carlton J. Dill, all of Bermuda.
Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up Capital Management of Bermuda, Ltd." for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that the Directors Register on the Government of Bermuda's website identified the directors of Capital Management of Bermuda Ltd. as Thomas Sash, c/o Windsor-Thomas Group Inc., of Plant City, Florida; Thomas Williams, of Palm Harbour, Florida, and Nicholas Williams, c/o Clifford Chance LLP, of New York, NY.
Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up Excelsior Insurance Ltd." for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that the Directors Register on the Government of Bermuda's website identified the directors of Excelsior Insurance Ltd. are Ronald Sherman, of New Jersey, USA; Jason Poliner, of Connecticut, USA; Richard Daley, of Bermuda; Neill Horner, of Bermuda, and Bradley Meindersma, of Bermuda.
Press Release by the Bermuda Monetary Authority announcing the cancellation of the insurance brokerage registration of Intrepidus Insurance Services (Bermuda) Limited.
Press Release by the Bermuda Monetary Authority announcing that it has imposed a fine of $100,000 on First Bermuda Group Limited "for a number of compliance failings related to the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008".
Press Release from the Bermuda Monetary Authority that it has started winding-up proceedings against the Bermuda branch of British American Insurance Company, a Bahamian insurance company which is a majority owned subsidiary of CL Financial Group of Trinidad and Tobago (CL).
Press Release by the Bermuda Monetary Authority that it has initiated winding-up proceedings against three licensed companies in local investment group, the Emerald Financial Group in conjunction with the Registrar of Companies.