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

The BMA registered four Restricted SPI insurers – Ramble Re Ltd, Bobcat Re Ltd, Ashera Re Ltd and Palm Re Ltd.

The island’s financial services regulator also registered two Class E insurers - Ivy Peak Co-Invest Re II Ltd and InEvo Re Ltd – and the collateralised insurer, Monarch Point Re (ISA 2024) Ltd.

Nine insurance applications were reviewed in February by the Insurance Assessment and Licensing Committee, comprising of eight new applications and one carried forward application, all of which were approved.

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