Bermuda Seeing Influx Of Insurers
by Mike Godfrey, Lowtax.net, Washington
06 April, 2018
The Bermuda Monetary Authority (BMA) has welcomed a significant increase in new insurance entities locating to Bermuda during the first two months of the year.
The island regulator said it has newly registered 11 (re)insurers, including three Class E Long-Term (life) commercial (re)insurers and one general business Class 4 general business commercial (re)insurer. One insurance intermediary was also registered.
This compares to five new (re)insurers (and no intermediaries) recorded for the same period last year. Class 4 and Class E (re)insurers are the largest entities by size on the Bermuda register.
Bermuda's Business Development Agency recently said the increase in business is partly as a result of the recent passage of tax cuts in the US.
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