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The Bermuda Monetary Authority (the Authority) is the integrated regulator of the financial services sector in Bermuda. It is not a central bank, and does not provide lender of last resort facilities. Established under the Bermuda Monetary Authority Act 1969, the Authority supervises, regulates and inspects financial institutions operating from ...
Bermuda is an associate member of CARICOM. Bermuda's economy is based on offshore insurance and reinsurance, and tourism, the two largest economic sectors. [1] [2] Bermuda had one of the world's highest GDP per capita for most of the 20th century [3] and several years beyond. Recently, its economic status has been affected by the global recession.
He is an independent, non-executive Director of Mount Logan Re, a Bermuda-based reinsurance firm, [5] and in the spring of 2024, after the Bermuda Monetary Authority appointed a Special Committee of independent Directors to address problems at 777 Re, he was approved by the Bermuda Monetary Authority as an Independent Director and member of the ...
Banking Commission of the West African Monetary Union (CB-UMOA) ; Financial Markets Authority of the West African Monetary Union (AMF-UMOA) ; Regional Insurance Control Commission (CRCA) Bermuda: Bermuda Monetary Authority: Bhutan: Royal Monetary Authority of Bhutan: Bolivia: Autoridad de Supervisión del Sistema Financiero (ASFI) Bosnia and ...
Bermuda is considered an offshore financial centre. According to the Foot report, Bermuda is the second largest captive insurance domicile, and is the third largest reinsurance centre in the world. [23] It is the domicile of 6% of offshore funds (at 2010) [24] and has a presence in aircraft registration and maintains an open ship registry.
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. [1] In contrast to a commercial bank , a central bank possesses a monopoly on increasing the monetary base .
The Bermuda Stock Exchange (BSX), established in 1971, [2] is located in Hamilton, Bermuda. The stock exchange 's 2010 'Year End Review' report stated that its aggregate market capitalisation (excluding mutual funds) stood at US$319 billion.
Bermuda is the oldest British Overseas Territory, and the oldest self-governing British Overseas Territory, and has a great degree of internal autonomy through authority and roles of governance delegated to it by the national Government (the British Government, which is ultimately responsible for the governance of all British territory). Its ...