Craig Swan, CEO of Bermuda Monetary Authority
22 June 2023Analysis

BMA releases May registration figures

The Bermuda Monetary Authority (BMA) has announced the latest registration figures for insurance companies on the island.

According to the BMA a total of 13 insurance companies registered on Bermuda in May this year. They include one Class I (single-parent captive) company, GBT Insurance Company Bermuda, and two Class 2 (multi-parent captive) companies, Eaglemark Insurance Company and Resilience Cyber Reinsurance Solutions.

There were also three restricted special purpose insurers (SPIs), Mountain Re, Solomon Re and Lower Ferry Re and one unrestricted SPI, Nascent Re.

The remaining six companies were a mix of managers, agents, collateralised insurers and Class 3 re/insurers.