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ARTICLE · 27 MARCH 2026

Navigating Bermuda's New Recovery Planning Requirements: A Roadmap For Commercial Insurers

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On 20 March 2026, the Bermuda Monetary Authority (BMA) issued an updated Guidance Note for Recovery Planning Requirements (Guidance Note).

BermudaInsurance
Brad Adderley
Brad Adderley
Max Tetlow
Max Tetlow
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Along with the Guidance Note, BMA also released a Stakeholder Letter (Letter) which contains the BMA's responses to industry feedback on the prior iteration of the Guidance Note (released on 10 April 2025).

The Guidance Note and Letter make it clear that recovery planning is not a regulatory compliance exercise, it is a core prudential requirement. The BMA views recovery planning as an essential pillar of its prudential framework, designed to ensure that insurers can act in an orderly and timely manner under severe stress. Any entity that is in scope of the Rules and receives a formal notice from the BMA (Notice) must adopt a Recovery Plan (RP).

Recovery Planning and the Recovery Plan

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