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Bermuda Insurance Update – July 2016

The first half of 2016 has been a significant period for the Bermuda insurance sector.

The enhanced regulatory status of Solvency II has proven beneficial. Major insurance groups have started seeking approval for the Bermuda Monetary Authority to serve as the group supervisor under the Solvency II regime. In particular, XL Group plc announced that it will be redomiciling its parent company from Ireland to Bermuda. This is on the heels of last year’s new commercial insurer formations and Qatar Reinsurance’s redomicile to Bermuda. Looking ahead to the next six months of the year, we anticipate a continued increase in activity in the formation and licensing of new commercial insurers, as well as a rise in ILS activity with the formation of new cat bond issuers.

Inside this edition of our Bermuda Insurance Update, we feature commentary on legislative changes and market updates affecting the industry, as well as news and event highlights.

 

To continue reading full articles in PDF format:
Bermuda Insurance Update – July 2016

 


Charles G.R. Collis
Director, Head of Bermuda Insurance Practice

Bermuda   +1 441 299 4918


Chris Garrod
Director, Head of Fintech

Bermuda   +1 441 299 4923


Michael Frith
Director

Bermuda   +1 441 278 7969


Sophia Greaves
Director

Bermuda   +1 441 294 5929


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