19 February 2014Analysis

BMA registers one captive in January


The Bermuda Monetary Authority (BMA) reports five new registrations for January 2014, including one multi-owner captive.

Broadhead Risk Management was registered with the BMA in the first month of 2014 as a Class 2 Entity, defined as a multi-owner captive. Broadhead will be required to maintain a capital and surplus of $250,000.

The BMA also registered three Class 3A entities and one Class C entity. Of the five insurance applications reviewed in January two were declined and three approved.


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More on this story

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23 October 2023   However, the BMA anticipates an October surge in approvals.
news
21 August 2023   The regulator and the cell company are co-operating to recover assets from the troubled insurtech.
news
14 August 2023   New companies were registered on the island in July.