20 July 2021Actuarial & underwriting

BMA licenses first class one captive of 2021 in June

The Bermuda Monetary Authority (BMA) registered a class one, single parent captive in June.

Black and Gold Insurance was registered on June 22 and was one of six new re/insurance entities the BMA registered in the month.

Also registered in June were two agents, two restricted special purpose insurers and a class 3B, large commercial insurer.

In all, the BMA has registered 31 re/insurance entities in 2021, although Black and Gold is the first class one captive license to be handed out this year.

The BMA has also awarded eight licenses to intermediaries so far in 2021.