BMA authorises eight new re/insurance entities

The Bermuda Monetary Authority (BMA) authorised eight new re/insurance entities in February.

Among the eight new entities were three new restricted special purpose insurers: Triangle Re 2021-1 and Triangle Re 2021-2, and Bellemeade Re 2021-1.

The BMA licensed a class two, multi owner captive (Great Northern Assurance), a class four reinsurer AXA XL Reinsurance) and a long term reinsurer (Bristol Re). A new manager (Premia Insurance Services Bermuda) and a new broker (Lockton Re Bermuda) were also registered.