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ARTICLE · 11 FEBRUARY 2025

Proposed Enhancements To Bermuda's Group Supervision Framework

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On 4 December 2024, the Bermuda Monetary Authority (BMA) issued its consultation paper entitled "Proposed Enhancements to the Insurance Group Supervision Framework," outlining regulatory updates to

BermudaInsurance
Chiara Nannini
Chiara Nannini
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On 4 December 2024, the Bermuda Monetary Authority (BMA) issued its consultation paper entitled "Proposed Enhancements to the Insurance Group Supervision Framework," outlining regulatory updates to strengthen the BMA's group-wide supervision framework. The consultation period closed on 15 January 2025.

The enhancements proposed by the BMA provide for direct supervision of insurance groups, reflecting the growth and sophistication of Bermuda Insurance Groups, including the designation of a number of Bermuda Insurance Groups as Internationally Active Insurance Groups (IAIGs). The main theme of such proposals is the ability of the BMA to have control over the parent of the insurance group.

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