The Bermuda Monetary Authority confirmed the registration of five insurers in May, taking this year’s number of new registrants to 32.

The BMA approved two restricted special purpose insurers – Eagle Re 2022-1 Ltd and Marlin Re Ltd – as well as Freestone Re Ltd in class C, Welsch Insurance Ltd in class 1, and Chainproof Digital Asset Insurance Ltd in class IGB (innovative general business).

Twelve restricted SPIs have been registered this year in addition to five class 3A insurers, two each in classes 1, C, E, and IGB, and one each in classes 2, 3, 3B, 4, unrestricted SPI, collateralised, and IIGB (innovative insurer general business).

In addition, one broker has been registered as an intermediary.