BMA registers eight new insurance entities in September

The Bermuda Monetary Authority registered eight new insurance entities in September.

Among the launches were five special purpose reinsurers: Radnor Re 2020-2; Home Re 2020-1; Eagle Re 2020-2; Ursa Re II; and Triangle Re 2020-1.

The BMA also registered two single parent captives, called Northern Insurance Company and 1905 Insurance Company (Bermuda), and a class C entity, or a long term re/insurer with total assets of less than $250 million, called Kuvare Bermuda Re.

The BMA said it had also registered an additional class 3A re/insurer in August, called Pallas Reinsurance Company.

The BMA has now registered 44 insurers in 2020 and four intermediaries.