The Bermuda Monetary Authority confirmed the registration of three insurers in February, taking the yearly total to seven.

The BMA approved two Restricted SPI insurers – First Coast Re IV Ltd and Lightning Re Ltd – as well as Aspis Insurance Company Limited in class 2.

Six insurance applications were reviewed in February by the Insurance Assessment and Licensing Committee, all of which were approved.

The BMA noted that the registration/licensing of approved insurance entities is issued after the IALC application process and may be confirmed in future periods.