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ARTICLE · 29 JANUARY 2026

Bermuda Captive Education Summit: BMA Insights On Captive Licence Applications

Carey Olsen
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The IALC has responsibility for reviewing and making decisions for the grant of licences and registrations under the Insurance Act 1978 (IA 78)...

BermudaInsurance
Michelle Falcucci
Michelle Falcucci
Gavin Woods
Gavin Woods
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Matthew Dulaney
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The IALC has responsibility for reviewing and making decisions for the grant of licences and registrations under the Insurance Act 1978 (IA 78), related regulations and rules. The IALC consists of a panel of senior managers, senior officers and principals of the BMA. Broadly speaking, the IALC review applications for compliance with the minimum licensing criteria, prudential rules and risk principles and will convey any concerns regarding an applicant's proposed insurance activities and explain the reasons for imposing licensing conditions or restrictions (if any).

Treasa Walker, deputy director – licensing & intermediaries supervision, spoke to what are the most important details to include in an application, remarking: "definitely outline the fitness and proprietary of the principals' underwriting expertise. For a captive, that is something we really look for."

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