Bermuda: Insurance Laws and Products

The Bermuda Monetary Authority is implementing new Insurance (Internationally Active Group Supervision) Rules 2026 to align Bermuda's regulatory framework with international standards for Internationally Active Insurance Groups set by the IAIS. These proposed rules introduce enhanced governance, risk management, and reporting requirements for IAIGs domiciled in Bermuda, with final rules expected in Q4 2026 following a consultation period that closed on September 30, 2026.

The insurance-linked securities (ILS) market is evolving with multiperil structures and risk commingling becoming increasingly prevalent. As data centre build-outs present new opportunities and challenges, industry experts weigh in on whether ILS can shoulder the massive exposures ahead, while casualty sidecars continue to generate discussion despite limited transaction activity.

The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc

As detailed therein, the OpRes Code is designed to strengthen the Bermuda financial sector's ability to withstand, adapt to, and recover from operational disruptions.

Bermuda is one of the leading captive insurance markets in the world with over 600 registered captive insurers writing an impressive ~$30 billion of annual gross written premiums

Bermuda's decades-long efforts to welcome Latin American risks to the island's re/insurance market have borne fruit in the form of the many LatAm captive insurers that have become domiciled here.

While the bulk of Q3 2025 risk capital came from full Rule 144A deals, in terms of the number of transactions, cat bond issuance in the third quarter of 2025 was dominated by privately placed...

The reinsurance market is in a strong position after two years of profits and covering its cost of capital.

He has watched the island's growth from the front row since 1996 and is resolute that Bermuda continues to dominate reinsurance with its innovation and sound infrastructure.