BMA confirms eight new re/insurance registrations in March

Eight new re/insurance vehicles were registered with the Bermuda Monetary Authority (BMA) in March, taking the total number of registrations so far this year to ten.

The registered entities were: Bellemeade Re 2020-1; Veraton Re; Operational Re III; Evertas Insurance; Protective Life Reinsurance Bermuda; Giga Bermuda Insurance; DARAG Bermuda; and Pacific Life Re Global.

The BMA said there were seven insurance applications reviewed in March, one of which was deferred from February 2020. Five of the applications were approved and two were deferred.

It also stated that registration and licensing of approved insurance entities is subsequent to the ALC application process and may be confirmed in future periods.

Nakamoto and 3264 Re were both registered in January.