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.