ARTICLE · 09 MARCH 2026

BMA Announces A Reduction In Regulatory Burden For Insurers

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The BMA released a Notice on 19 February 2026 announcing that it plans on reducing the regulatory burden for insurers while strengthening the efficiency and proportionality of insurance supervision.

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The BMA released a Notice on 19 February 2026 announcing that it plans on reducing the regulatory burden for insurers while strengthening the efficiency and proportionality of insurance supervision. The BMA defined regulatory burden reduction to mean removing unnecessary cost, duplication, administrative friction and inefficient processes, particularly in relation to reporting, filings and supervisory interactions. The aim is to remove processes that do not improve supervisory insight or policyholder outcomes.

The BMA emphasized that this is not a reduction in prudential standards, capital requirements or supervisory effectiveness. Rather the aim is to reduce low-value administrative activity. The BMA noted that regulatory burden can increase operational costs and strain governance and compliance resources.

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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.

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