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ARTICLE · 03 APRIL 2024

Looking Ahead: Enhancements To The Bermuda Regulatory Regime

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Further to the Bermuda Monetary Authority's ("BMA") consultations with respect to proposed enhancements to the regulatory regime for commercial insurers...

BermudaInsurance
Sarah Demerling
Sarah Demerling
Erin Diachkoff
Erin Diachkoff
Lauren Thorburn
Lauren Thorburn
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Further to the Bermuda Monetary Authority's ("BMA") consultations with respect to proposed enhancements to the regulatory regime for commercial insurers and insurance groups, the following legislation will become operative on 31 March 2024:

  • Insurance (Prudential Standards) (Class 4 and Class 3B Solvency Requirement) Amendment Rules 2024
  • Insurance (Prudential Standards) (Class 3A Solvency Requirement) Amendment Rules 2024
  • Insurance (Prudential Standards) (Class C, Class D and Class E Solvency Requirement) Amendment Rules 2024
  • Insurance (Prudential Standards) (Insurance Group Solvency Requirement) Amendment Rules 2024

These Amendment Rules amend the following Rules, respectively:

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