The Bermuda Monetary Authority (BMA), the regulator responsible for Bermuda’s financial services sector including insurance supervision, has introduced a new Market Entry & Innovation Pathway intended to support firms with established solutions in progressing more efficiently into the Bermuda market.
The initiative was formally presented on 10 April 2026 at the BMA Forum in Hamilton, Bermuda, held at the Hamilton Princess & Beach Club, with participation from Lloyd’s, the London-based insurance and reinsurance marketplace.
The pathway is open to companies that have participated in, or graduated from, the Lloyd’s Lab programme and whose solutions are relevant to Bermuda’s insurance environment.
According to the BMA, the aim is to make regulatory engagement more direct for firms that have already progressed through early-stage validation processes within Lloyd’s innovation framework.
Through the new structure, eligible firms may access the BMA’s Regulatory Sandbox, which enables controlled real-world testing of new products and services, as well as the Authority’s Innovation Hub, which provides organised engagement between industry participants and regulators.
Gerald Gakundi, Head of Insurance and Funds and Deputy Managing Director at the BMA, commented: “This streamlined process strengthens Bermuda’s position as a jurisdiction where innovation can thrive by combining regulatory clarity with global connectivity.
“We’re excited to deepen our shared commitment with Lloyd’s to jointly drive innovation and excellence across the insurance industry. As markets evolve, partnerships like this play an important role in helping to scale innovation responsibly.”
The Lloyd’s Lab programme is a 10-week accelerator designed to support companies working on new technologies and approaches within the insurance sector, particularly those addressing emerging and evolving risks. Its Cohort 14 included participants developing solutions with a focus on Bermuda’s insurance market, drawing on capabilities from both local and international firms.
“For companies participating in Lloyd’s Lab, this initiative provides a clearer route into Bermuda—a jurisdiction with a well-established, proportionate regulatory framework and deep insurance expertise,” added Dawn Miller, Chief Commercial Officer, Lloyd’s and CEO, Lloyd’s Americas.
“By launching these innovation pathways, the BMA has created a more direct route for firms with Lloyd’s Lab-validated solutions, supporting efficient market adoption while maintaining robust regulatory standards.”
The initiative builds on a 2024 Memorandum of Understanding between the BMA and Lloyd’s, which set out cooperation on innovation within insurance markets. This was followed by joint work on Lloyd’s Lab Cohort 14 in 2025, which focused on Bermuda-specific challenges identified by both organisations.
The latest pathway reflects continued coordination between the two institutions aimed at linking their respective innovation programmes and improving access for firms transitioning from accelerator environments into regulated market participation.
