Bermuda continues captive growths
Bermuda Monetary Authority (BMA) licensed three new captives between January and April 2024, taking the total number in the domicile to 630. Three new captives registered in the period include Marsh’s group captive Edgware Re, I-RE Insurance and Arrowhead Insurance. The BMS also licensed four long-term insurers, two collateralised insurers and 12 restricted Special Purpose Insurers (SPI). Four new intermediaries were also registered in the period, including one agent, First Specialty Excess; and three brokers, Colonnade (Re)insurance Solutions, Juniper Re Bermuda and International Risk Solutions.