17 May 2013Bermuda analysis

Bermuda welcomes two new captives in April

Bermuda welcomed a class 2 multi-owner captive and a long-term class B captive in April despite headwinds associated with the soft commercial market and pressure on offshore domiciles from the global taxman.

Since the start of the year Bermuda has licensed 20 insurers, with four of those being captive entities. Special purpose insurers continue to head-up new formations in the domicile, with 11 having been formed in 2013.