21 June 2021Bermuda analysis

BMA registers a multi owner captive in May

The Bermuda Monetary Authority (BMA) registered a new class two multi-owner captive in May.

Sundial Insurance Bermuda was one of nine new re/insurance entities authorised in the month.

The BMA also confirmed the registrations of five new restricted special purpose insurers (SPI) in May, including Wrigley Re, Radnor Re 2021-1, Bellemeade Re 2021-2, Titania Re and Baldwin Re.

The remaining registrations included two class three re/insurers - SEROAM Bermuda Insurance ISAC and Autolinx Bermuda ISA - and North End Re, a class E long term re/insurer.

The BMA has registered 27 new re/insurance entities in total in 2021 to the end of May.