BMA registers two insurers
Created: Nov 22, 2024 02:43 PM (Updated: Nov 24, 2024 04:35 PM)
The Bermuda Monetary Authority, the financial services regulator (File photograph)
The Bermuda Monetary Authority confirmed the registration of two new insurers in October, taking the yearly total to 43.
The island’s financial services regulator has also registered ten intermediaries this year.
Last month, the BMA registered Maschpark Re Ltd in the Restricted SPI category and QFI Risk Solutions (SAC) Ltd in Class 1.
Nine new insurance applications were reviewed in October by the Insurance Assessment and Licensing Committee, all of which were approved.
The BMA noted that the registration of approved insurance entities occurs after the IALC application process has concluded. Therefore, the IALC approval and the registration approval may be rendered in different periods.
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Published November 22, 2024 at 2:43 pm (Updated November 24, 2024 at 4:35 pm)
BMA registers two insurers
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