BMA authorises a multi owner captive in February

The Bermuda Monetary Authority (BMA) licensed Great Northern Assurance, a class two, multi owner captive, in February, as one of eight new re/insurance entities authorised in the month.

The other new launches included three new restricted special purpose insurers: Triangle Re 2021-1 and Triangle Re 2021-2, and Bellemeade Re 2021-1. AXA XL Reinsurance, a class four reinsurer, was authorised, as was one long term reinsurer, Bristol Re.

The BMA also authorised a new manager, Premia Insurance Services Bermuda, and a new broker, Lockton Re Bermuda.