Eight new re/insurance vehicles were registered with the Bermuda Monetary Authority (BMA) in March, taking the total number of registrations so far this year to ten.
The number of new captives has risen compared with 2018.
Gemini Trust Company, a cryptocurrency exchange and custodian, has launched a captive insurance company, Nakamoto, in Bermuda.
The Bermuda Monetary Authority has named Craig Swan as its deputy chief executive officer, a position it created as it prepares for the departure of its executive chairman, Jeremy Cox, in 2021.
Bermuda-based captives took in 53.6 percent more affirmative cyber related gross premiums in 2018 than they did the previous year, according to the Bermuda Monetary Authority in its annual cyber underwriting report.
Economic substance regulation enacted to appease the EU is undermining the business case for offshore captives, according to Mark Chudleigh, a partner at Kennedys in Bermuda.
The Bermuda Captive Conference, running June 11-13 at the Fairmont Southampton, has registered a record 845 delegates, attracting captive owners, risk managers, captive managers, sponsors, and vendors from the United States, Canada, Latin America, and the United Kingdom, in addition to Bermuda’s own industry representatives.
The Bermuda Captive Conference has admitted 11 captive insurance companies to Bermuda's Captive Hall of Fame after completing 25 years of business from the island.
Bermuda has held on to its position as the domicile with the most active captive licenses, with 776 on its register as of December 31, 2016, according to new figures from the Bermuda Monetary Authority (BMA).
Shelby Weldon, the former director of licensing and authorisations at the Bermuda Monetary Authority (BMA), has started in his new role with Marsh Captive Solutions.