BMA registers four insurers
The Bermuda Monetary Authority has confirmed the registration of four new insurers, taking the yearly total to 30.
The island’s financial services regulator has also registered seven intermediaries this year, including one in July.
The BMA last month registered Catalina Re Bermuda Ltd in Class E, Biglari Reinsurance Ltd in Class 3B, Bellemeade Re 2024-1 Ltd in the Restricted SPI category, and ISO Insurance Bermuda Ltd as an agent.
The BMA said there was one additional registration from June, that of Periculum Reinsurance Corporation International Ltd in Class 2.
Six insurance applications were reviewed in July 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.
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