Nine captives registered on Bermuda in 2025

The Bermuda Monetary Authority (BMA) has announced that it approved the formation of nine new captives during 2025.

The latest statistics released by the BMA show there were zero new captives formed during December 2025 on Bermuda, giving the final yearly total of nine.

The number includes two Class 1, five Class 2, one Class 3, and one Class A insurers.

This is a severe drop from the 17 captives licenced by the BMA in 2024, when the BMA approved seven new class 1 insurers, five new class 2s, two new class 3s, and three new class As.

There were 17 new captives formed in 2021, 18 formed in 2022, and 16 formed in 2023.

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