Providing all the answers to establishing a captive in Bermuda.
Bermuda’s risk based regulatory model sets it apart from other insurance centres and it continues to be the premier domicile for the captive sector in the global market. Bermuda’s progressive regulatory system is risk-based with a supervisory process that involves a high degree of cooperation between insurance companies and the regulator.
Regulation is conducted under a multi-license system, whereby every insurer must obtain a certain class of license dependent on its size and the lines of business it will write. The objective of the class system is to provide proportionate regulation reflective of the nature and complexity of the insurance company. This proportionate approach has allowed the regulation of Bermuda’s captive insurance companies to be largely unaffected by the Bermuda Monetary Authority’s (BMA) development of its regulatory framework for commercial insurers.
Our Captive Guide provides summary information on the Bermuda insurance market, the regulatory system, incorporation process and annual filing requirements. To request a copy, please get in touch with us at: firstname.lastname@example.org
© 2021 KPMG, a group of Bermuda limited liability companies and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.