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BMA
Bermuda’s commercial long-term insurance sector GWP hit $200bn in 2024: BMA
30th December 2025
Bermuda’s commercial long-term insurance sector continued to grow in 2024, with gross written premiums (GWP) increasing 17.8% year-on-year to reach US$200.1 billion, with total assets increasing by 19.1%, according to the latest figures from the Bermuda Monetary Authority (BMA). The ‘Bermuda Long-term Insurance Market Analysis and Stress Testing Report’ attributes this ... Read the full article
Bermuda P&C re/insurance sector net income increased 22.5% in 2024: BMA
23rd December 2025
In 2024, Bermuda’s international property and casualty (P&C) re/insurance sector reported a 22.5% increase in net income to $30.9 billion, up from $25.2 billion in 2023, according to the Bermuda Monetary Authority (BMA). The combined ratio increased by 3.5 percentage points year over year to 79.6% from 76.1%, although the sector ... Read the full article
BMA strengthens Bermuda’s position in innovative insurance solutions
30th October 2025
The Bermuda Monetary Authority (BMA), Bermuda’s integrated regulator and supervisor for the financial services sector, continues to drive innovation in the Insurance Linked Securities (ILS) market. The BMA highlights that Bermuda’s ILS market is built on a foundation of prudence and practicality, underpinned by a regulatory framework designed to respond to ... Read the full article
Bermuda’s P&C re/insurance sector saw improved CoR and net income in 2023: BMA
24th December 2024
Bermuda’s international Property and Casualty (P&C) re/insurance sector saw significant improvements in combined ratio and net income in 2023, driven by continued price improvements, stricter terms and conditions, limit and aggregation management, and favourable investment returns, according to the Bermuda Monetary Authority (BMA). Despite this progress, the BMA highlighted ongoing global ... Read the full article
BMA report reveals $7.75bn surge in cyber insurance premiums and a $120bn market forecast
13th September 2024
The Bermuda Monetary Authority (BMA), the island's regulatory body for financial services, has released its annual Bermuda Cyber Underwriting Report, showcasing a significant 63.7% increase in cyber insurance gross written premiums, which reached $7.75 billion in 2022. According to the report, this increase reflects Bermuda’s growing significance as a reinsurance hub ... Read the full article
Meanwhile secures regulatory approval from BMA for full commercial licence
13th August 2024
Meanwhile, the first and only life insurer operating entirely in Bitcoin (BTC), has received regulatory approval from the Bermuda Monetary Authority (BMA) to function as a permanent commercial long-term insurer. This approval follows Meanwhile's successful $19 million funding from two seed rounds in June 2023. The company’s operating subsidiary, Meanwhile Insurance ... Read the full article
As the BMA tightens regulations, Bermuda continues to attract global re/insurers: BILTIR
15th July 2024
Bermuda has successfully continued to attract global re/insurers as the Bermuda Monetary Authority (BMA) continues to introduce significant new requirements to regulate the market in its jurisdiction, a move that has had a very significant financial impact on the island's life and long-term sector, according to BILTIR’s CEO Suzanne Williams-Charles. In ... Read the full article
BILTIR report analyses Bermuda’s long-term insurance market status
14th June 2024
The Bermuda International Long Term Insurers and Reinsurers (BILTIR), a trade association with over 70 member (re)insurance companies and service providers, has published a report examining the history and present condition of Bermuda's long-term insurance sector. The report, "Building for the Long Term: Examining the History, Future, and Importance of Bermuda’s ... Read the full article
ABIR names Collin Anderson Director of Policy and Regulation
6th June 2024
The Association of Bermuda Insurers and Reinsurers (ABIR), which represents the public policy interests of Bermuda’s re/insurers, has announced the appointment of Collin Anderson as Director of Policy and Regulation, starting July 1. With 23 years of experience in both public and private sectors, Anderson has a robust background that includes ... Read the full article
Lloyd’s and BMA spark initiative to drive innovation and education access
14th March 2024
The Lloyd’s insurance and reinsurance market and the Bermuda Monetary Authority (BMA) have committed to developing an initiative that will reportedly drive closer collaboration and alignment on sharing risk expertise between the two major (re)insurance hubs. Lloyd's stated that the focus of this initiative will be on fostering innovation through the ... Read the full article
Bermuda’s BMA & Aon’s White Rock to jointly pursue insurtech Vesttoo in court
18th August 2023
The Bermuda Monetary Authority (BMA) and White Rock (SAC) Ltd., insurance and reinsurance broker Aon's segregated accounts and transformer vehicle, have launched action in the Supreme Court of Bermuda to pursue "maximum recovery" for re/insureds impacted by the alleged fraud linked to Vesttoo reinsurance deals. A statement released today by the ... Read the full article
BMA appoints financial services veteran as its next COO
21st March 2023
The Bermuda Monetary Authority (BMA) has announced that it has appointed Toby Mason as the Authority’s next Chief Operating Officer (COO). In the role, he will report to Deputy Chief Executive Officer, Shanna Lespere. As COO, Mason will oversee BMA’s infrastructure, where he will support organisational growth and improving results and efficiency ... Read the full article
Bermuda market cat risk exposure up 10% through 2021
23rd December 2022
New catastrophe risk exposure data from the Bermuda Monetary Authority (BMA) shows that, for the year 2021, the net loss exposure assumed by Bermuda insurers increased by 9.76%, from $76.45 billion in 2020 to $83.92 billion. Analysts also reported that the gross loss exposure assumed increased by 8.03%, from $208.30 billion ... Read the full article
BILTIR welcomes BMA decision on regimes for commercial insurers
15th December 2022
Bermuda International Long-Term Insurers and Reinsurers (BILTIR) has welcomed the decision of the Bermuda Monetary Authority (BMA) to make targeted enhancements to regulatory and supervisory regimes for commercial insurers. In a notice to the market, the BMA said the enhancements mostly focus on the regulatory and supervisory frameworks for long-term (Life) ... Read the full article
US policyholders and cedants to claim $13bn from Bermuda due to Hurricane Ian
7th December 2022
Data collected by the Bermuda Monetary Authority (BMA) suggests that re/insurers in the area will incur gross claim losses of more than $13bn in payments to policyholders and cedants in the US due to Hurricane Ian. The BMA said that based on publicly available estimates from catastrophe risk modellers and insurance ... Read the full article
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