The Bermuda Monetary Authority confirmed the registration of seven new insurers in January.

Anglesea Insurance Group Ltd and Leopard Re Ltd were registered in Class 2, while Chariot Reinsurance Ltd was registered in Class 4, Halco Insurance Company (Bermuda) Ltd was registered in Class A and Equitable Financial Bermuda Re Ltd was registered in Class E.

In addition, Integrity Re III Ltd was registered in the Restricted SPI category, and Monarch Point Re (ISA 2025) Ltd was registered in the Collateralised Insurer category.

Four insurance applications were reviewed in January by the Insurance Assessment and Licensing Committee, all of which were new. Three were approved by the IALC and one was deferred.

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.