Event: Regional Workshop for Asian Insurance Supervisors

Identifying, Understanding & Assessing Money Laundering and Terrorism Financing Risks in Insurance

30 August 2017
Author / Speaker: 
Leo Mucheriwa, Bermuda Monetary Authority

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Insurance Core Principle (ICP) 22 provides insurance supervisors guidelines on anti-money laundering and combating the financing of terrorism. This presentation shares how ICP 22 was concretely applied in Bermuda, which hosts the third largest reinsurance market in the world. It developed its own internal money laundering and terrorism financing risk assessment model that provides a systematic and practical way to assess these risks in a consistent manner across all the entities it regulates. 

Geographical Focus: 
Type of Content: 
Learning Event