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ARTICLE · 06 FEBRUARY 2026

Parametric Special Purpose Insurers

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On 21 January 2026, the Bermuda Monetary Authority (BMA) published a consultation paper to introduce a proposed new class of Special Purpose Insurer (SPI), the Parametric Special Purpose Insurer (PSPI).

BermudaInsurance
Alexandra Macdonald
Alexandra Macdonald
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On 21 January 2026, the Bermuda Monetary Authority (BMA) published a consultation paper to introduce a proposed new class of Special Purpose Insurer (SPI), the Parametric Special Purpose Insurer (PSPI). The proposal reflects the BMA's continued focus on supporting innovation within Bermuda's insurance-linked securities (ILS) market, while ensuring that the regulatory framework remains robust and aligned with international standards.

The possibility of this new class has been under consideration by the BMA over recent years. With the continued growth of the ILS industry, the BMA is looking to ensure that Bermuda's regulatory framework continues to address the wide variety of structures.

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