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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 09/09 New
Lowtax Editor Column, by Kitty Miv |
| 08/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 07/09
Flaws Uncovered In UK PAYE Tax System, Tax-News.com |
| 06/09
German Cabinet Agrees 'Future Package', Tax-News.com |
| 03/09
South Africa Rejects Mining Tax, Tax-News.com |
| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Bermudan Insurance Sector Retains Strength In Downturn |
by Phillip Morton, Investors Offshore.com
Friday, February 19, 2010
The Bermuda Monetary Authority has reported that the Bermuda insurance market
continued to record strong performance, against the backdrop of a prolonged soft
market and the effects of the worst financial crisis in a generation.
Latest available figures show that Bermuda’s insurers had aggregate total
assets of USD472.9bn, which represents a 7% increase over the USD442.2bn achieved
the previous year. Gross premiums written totaled USD123.5bn, achieving the
similar volume of business of USD124.4bn written the previous year, despite
the challenging economic conditions. Of that total, the commercial sector wrote
USD103.4bn in gross premiums written. Bermuda’s captive sector also maintained
significant results, reporting USD19.6bn in gross premiums written.
Jeremy Cox, CEO of the Authority, said: “We’re pleased to see that
the commercial sector remains strong. In addition, the almost USD20bn
in gross premiums written by the captive sector in a soft global market, and
the total number of 885 Bermuda captives, supports Bermuda’s position
as the leader among captive domiciles.”
“While some companies did experience losses over the past year impacting
capital levels, the market still remains highly capitalized and these losses
were primarily related to impairments within their investment portfolios, in
line with global trends.”
“Overall, these results indicate the continued resilience of the Bermuda
market, and ongoing confidence in Bermuda’s position as a leading center
for insurance and reinsurance business globally.”
Incorporations increased slightly during 2009: a total of 42 new (re)insurers
were established in the Bermuda market during the year, as compared to 40 in
2008. Most of the new market entrants for 2009 were a combination of captive
and commercial insurers within the Class 3, 3A and 3B sectors. The companies
covered various lines of business, including property and catastrophe and professional
liability; there was also increased interest from the life insurance sector,
which in turn brought increased assets and new capital to the market. The greatest
proportion of business came from the US during the year, with respect to both
the captive and commercial markets.
Concluding, Cox added: “We are pleased to see that Bermuda continues to attract high-quality
business, looking for experienced business support in a well-regulated environment.
In addition, the continued disciplined underwriting by Bermuda firms
throughout the year, as well as the Authority’s proactive and measured
approach to supervision, has assisted the jurisdiction in weathering a tough
financial storm.”
A comprehensive report in our Intelligence Report series
which studies the 20 main offshore jurisdictions which offer captive insurance
regimes is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report11.asp
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