13 May 2021News

BMA issues five re/insurance licences in April

The Bermuda Monetary Authority (BMA) confirmed five new re/insurance entity registrations in April.

The BMA issues one 3A licence, to Nectaris Re, and one restricted special purpose insurer licence to Vista Re.

It also issued two licences to long term insurers: a class C licence, aimed at re/insurers with total assets of less than $250 million, to Lombard International Global Insurance, and a class E licence, for those with assets of more than $500 million, to Legal & General Reinsurance Company No.2.

It also issued a licence to MoonGate Group to act as an insurance broker.

It means the BMA has licenced 18 re/insurance entities in total in 2021, and six intermediaries.