Bermuda captive insurance premiums totaled approximately $40 billion in 2018, according to statistics from the Bermuda Monetary Authority (BMA).
BMA statistics also revealed that the domicile had licensed 19 new captives in 2018, meaning as of 31 December 2018 there was a total of 711 active captive (re)insurance companies.
Additionally, the BMA figures showed the total captive premiums in Bermuda at year-end 2018 was approximately $40 billion.
Craig Swan, managing director, supervision (insurance), said the new captives licensed were diverse in their country of origination, captive structure, and lines of business.
He explained: “The majority of the new captives originated from the US, but they also
came from Europe, Canada, Latin America and Africa.”
“The new captives covered a diverse range of company structure, including pure captives, association captives and long-term captives.”
Swan added: “In terms of the lines of business being written, there was no one predominant area among the new captives.”
