The Bermuda Monetary Authority experienced a quieter month for insurance registrations. The regulator confirmed four new registrations in August, lifting the year-to-date total to 46.

The newest additions included two Class 2 insurers — AFC Captive Insurance Co Ltd and Ide8 Ltd — alongside Valuation Guarantee Ltd, a Class 1 insurer; and M Financial Global Services Ltd, a broker.

The updated total comprises 40 insurers and six intermediaries, compared with 37 insurers and five intermediaries at the end of July.

June and July both saw an uptick in registration activity, with seven entities registered in each month. August, meanwhile, was the quietest month since May, which also registered four newcomers.

The additions slightly strengthened Bermuda’s captive and smaller commercial insurance segment, while the year-to-date mix is weighted towards long-term and structured-risk vehicles.

There are nine Class E reinsurers registered so far this year, including West Grove Re, which was added in July. The list includes companies linked to life and annuity reinsurance activity, such as Global Atlantic Insurance Opportunities Reinsurance, Axa Life Bermuda and several Prudential entities.

The complex risk-transfer market is also keeping active. Bermuda had registered 12 restricted special-purpose insurers and five collateralised insurers by the end of August. No new entities in either category were registered during the month, following July additions LBI Reinsurance Bermuda and Lancer Re.

Elsewhere, the BMA’s insurance assessment and licensing committee reviewed 13 applications in August, more than double the six considered in July. The August group comprised 12 new applications and one carried forward from an earlier period.

Seven applications were approved, while five were deferred and one was considered insufficient for review. That marked a more mixed outcome than July, when all six applications reviewed by the committee were approved.