Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 FEBRUARY 2026

The Bermuda Monetary Authority Updates Its Licensing Process For Insurers

Kennedys Law LLP
Explore more from Kennedys Law LLP

The Bermuda Monetary Authority (BMA) released an Information Bulletin - Insurance Assessment and Licensing Committee (IALC) Update, on 29 January 2026 outlining updates to its licensing process for insurers (Updated IB).

BermudaFinance and Banking
Nick Miles
Nick Miles
Megan Denos
Megan Denos
Reid Orchard
Reid Orchard
Author LinkedIn connections

The Bermuda Monetary Authority (BMA) released an Information Bulletin - Insurance Assessment and Licensing Committee (IALC) Update, on 29 January 2026 outlining updates to its licensing process for insurers (Updated IB). The Updated IB replaces the prior Information Bulletin on the IALC that the BMA released on 29 July 2020. Also included in the Updated IB are updated application forms. Going forward it is important to use the current forms and instructions when making applications to the IALC.

The IALC was established by the BMA's Board of Directors for the purpose of reviewing and making decisions regarding the applications for registration under the Insurance Act 1978 (Act) and the related regulations and rules. The Updated IB states that:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Kennedys operates in Bermuda in association with Kennedys Chudleigh Ltd.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Bermuda Digital Assets - October 2026 Update

The Bermuda Monetary Authority has issued three major regulatory initiatives advancing Bermuda's digital asset framework, covering artificial intelligence governance, asset tokenisation clarity, and stablecoin usage in insurance and investment funds. These developments reflect Bermuda's commitment to maintaining a progressive, risk-based regulatory environment that balances innovation with consumer protection and financial stability.
BermudaFinance and Banking
Carey Olsen
Carey Olsen
Article

Navigating BMA’s Proposed AI Guidance Note

The Bermuda Monetary Authority has released a consultation paper on artificial intelligence regulation in financial services, proposing a risk-based framework that extends existing regulatory requirements rather than creating new licensing regimes. Financial institutions now face critical decisions about how to classify AI use cases, implement governance controls, and prepare for heightened scrutiny of generative and agentic AI systems before the October 30 feedback deadline.
BermudaFinance and Banking
Appleby
Appleby
Article

BMA Consults On AI Guidance For Bermuda's Financial Services Sector

The Bermuda Monetary Authority has released a consultation paper proposing principles-based guidance on artificial intelligence use in financial services, clarifying how existing regulatory frameworks apply without introducing new AI-specific legislation. The guidance establishes eight core principles and detailed expectations for governance, risk management, and oversight of AI systems, including emerging agentic AI capabilities. Regulated entities must now assess their AI inventories, board oversight arra
BermudaFinance and Banking
Walkers
Walkers
Article

Bermuda Investment Funds: A Practical Guide

Bermuda's investment funds regime provides sponsors with a sophisticated regulatory framework that balances flexibility with investor protection. From registered private funds to authorised retail vehicles, the jurisdiction accommodates diverse strategies through multiple structural options including SACs, ISACs, and traditional partnerships. Understanding the classification system, ongoing compliance requirements, and the interplay between fund regulation and investment business licensing is essential for
BermudaFinance and Banking
Carey Olsen
Carey Olsen
Article

Late-stage Liquidity And The Bermuda Fund Toolkit

Bermuda's private equity funds face mounting pressure as net asset values concentrate in fewer, larger portfolios while traditional exit routes remain constrained. With merger and acquisition markets uncertain and distribution droughts complicating fundraising, sponsors must navigate continuation vehicles and NAV financing as alternative liquidity solutions, each carrying distinct structural complexities and contractual implications under Bermuda's flexible partnership framework.
BermudaFinance and Banking
Appleby
Appleby