BMA licenses new life re/insurer

Bermuda's life re/insurance industry welcomed another company to the fold with the licensing by the Bermuda Monetary Authority of Class E re/insurer Lincoln Pinehurst Reinsurance Company (Bermuda). 

The company, one of four to be licensed by the BMA in June, is a subsidiary of US life and annuity insurer Lincoln National, according to website LEI Lookup. Bermuda-based Fortitude Reinsurance completed a $28 billion reinsurance agreement with Lincoln National in November, 2023.

The BMA also licensed broker Acrisure Bermuda, special purpose insurer Scenery Re and insurance manager Mt Logan Capital Management. 

The registrations bring the total number of insurance entities registered in 2024 to 32, of which 26 are insurers and six are intermediaries. Through June, 2023, 37 were registered. In 2023, a total of 67 insurers were registered. 

The BMA said the Insurance Assessment and Licensing Committee approved four insurance applications, of which three applications were new and one was carried

forward.

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