Bermuda’s insurance market posted a stronger showing in November, with eight new registrations confirmed, marking the most active month since April and lifting year-to-date formations to 56 entities, according to the Bermuda Monetary Authority’s latest Insurance Registration Statistics.

November’s total includes seven insurers and one intermediary, up from five registrations in October and two in September.

The increase suggests a late-year rebound after a pronounced slowdown through August and September, when just five insurers were added across both months combined.

With 56 registrations through November, the island now sits within reach of last year’s total of 63 new insurers, requiring seven registrations in December to match that level. While still below the brisk pace set in early 2025, November’s figures point to renewed momentum heading into year-end.

As in prior months, insurance-linked securities vehicles dominated new formations. Restricted special-purpose insurers accounted for four of November’s eight registrations, bringing the year-to-date total for that category to 22, by far the largest single segment.

Collateralised insurers also continue to feature prominently, with nine formed so far this year, including Navaura Re Ltd added in November.

The month also saw diversification across classes, including one Class 3A reinsurer — American International Reinsurance Global, Ltd. — and one innovative long-term insurer, Anthea Insurance Limited, which was registered under the sandbox regime.

On the regulatory side, the BMA’s Insurance Assessment and Licensing Committee reviewed 12 applications in November, consisting of 10 new submissions and two deferred matters. Of those, nine were approved, two were deferred and one was deemed insufficient for review, underscoring a healthy pipeline even as registrations may lag approvals.

With one month remaining, 2025 is now tracking closer to recent historical norms after flirting with a softer outcome earlier in the autumn, though a strong December finish will be key to cementing that recovery.