BMA registers 11 insurers in October
Seven restricted SPI insurers were among 11 whose registrations were confirmed by the Bermuda Monetary Authority in October.
Hexagon IV Re Ltd, Bellemeade Re 2023-1 Ltd, Blue Ridge Re Ltd, High Point Re Ltd, Long Walk Reinsurance Ltd, Nature Coast Re Ltd and PoleStar Re Ltd were registered in the restricted SPI category.
CNO Bermuda Re Ltd and Principal Financial Services (Bermuda) Ltd were registered in Class C, Atwater Limited was registered in Class 3 and Sat Re Ltd was registered in the unrestricted SPI category.
Eight insurance applications were reviewed in October by the Insurance Assessment and Licensing Committee. All 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.
Fifty-one insurers have been registered to date this year, as have four intermediaries.
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