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Bermuda sees 2012 uptick in ILS

Bermuda saw an uptick in the establishment of new insurance-linked securities last year.

A total of 27 new Special Purpose Insurers were registered by the Bermuda Monetary Authority (BMA) last year - 11 in December alone, the Bermuda Insurance Development Council reported yesterday.

In total, Bermuda attracted 53 new international insurers, four new insurance agencies, five new insurance managers and two more insurance brokerage businesses during the year.

As required by the insurance Act, 1978, the BMA maintains a register of licensed entities, which is accessible on its website www.bma.bm.

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Published January 22, 2013 at 8:00 am (Updated January 21, 2013 at 7:31 pm)

Bermuda sees 2012 uptick in ILS

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