Jurisdiction update: Bermuda, British Virgin Islands, Cayman Islands, Mauritius
Conyers Dill & Pearman has released issue three of its Jurisdiction Update for 2013, covering Bermuda, the British Virgin Islands, the Cayman Islands and Mauritius. Topics include insurance developments in Bermuda, a new ‘approved manager’ regime in the British Virgin Islands, Cayman Islands master funds and more.
In an effort to position itself to attain Solvency II equivalency, Bermuda continues to strengthen its supervisory regime over the commercial insurance sector while guarding against over-regulation of its captives market.
In November 2012, the Bermuda Monetary Authority published a number of amendments to its existing individual company and group rules, the most significant of which involved the suspension for one year (until 2014) of the implementation of enhanced capital requirements for commercial long-term insurers and insurance groups…
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International co-operation in cross-border insolvencies: smoothing the path for foreign liquidators in Hong Kong
A decision of the High Court of the Hong Kong SAR should make the task of liquidators of BVI, Cayman and other foreign companies more straightforward in the region.
The BVI Arbitration Act 2013 will come into force on 1 October 2014.