Bermuda news

Registration of new collateralized insurer class of companies in Bermuda soared to its highest level ever in 2025, helping lift catastrophe bond and insurance-linked security (ILS) related registrations above the prior year, while new cat bond issuance structures also rose compared to 2024.

The Bermuda Monetary Authority (BMA) has now launched its awaited consultation process that proposes a dedicated regulatory framework for a new Parametric Special Purpose Insurance (PSPI) class of company (a Parametric Special Purpose Insurer).

Beazley, the London headquartered specialty insurance and reinsurance company, has appointed its Head of Third-Party Capital initiatives Richard Gray as General Manager of Bermuda, which will see him leading its new cyber insurance-linked securities operations on the island.

The Bermuda Stock Exchange (BSX) further strengthened its position as the dominant venue for listings of catastrophe bonds and other insurance-linked securities in 2025, growing its share of the market in the process to end the year with a stunning $65.2 billion of insurance-linked listings on the exchange.

Fergus Re, the Bermuda based collateralized reinsurer that writes business for investors that have an appetite for returns from quality casualty risk underwriting business, has announced the appointment of Sharmini Samuels as Chief Underwriting Officer, effective January 1, 2026.

According to the Bermuda Monetary Authority (BMA), the convergence of tokenisation with Bermuda’s traditional insurance-linked securities (ILS) sector presents opportunities to enhance liquidity, reduce transaction costs and expand access to insurance risk transfer across the British overseas territory.

Beazley’s move to establish a new Bermuda operation is seen as “a strategic investment irrespective of the phase of the cycle” by analysts at Peel Hunt. They also highlight how this can increase access to third-party capital, in particular with the returns of the firm’s cyber underwriting expertise now set to become accessible to ILS […]

Beazley, the London headquartered specialty insurance and reinsurance company, has made a significant commitment to the Bermuda marketplace with the deployment of $500 million of capital to establish a new platform on the island to drive growth and expansion into the alternative risk transfer market, including ILS opportunities.

The Bermuda Monetary Authority (BMA) has confirmed that it plans to release a consultation paper in the fourth quarter of 2025 regarding the establishment of a new special purpose insurer (SPI) that will primarily focus on the use of parametric triggers.

Bermuda’s continued leadership within the insurance-linked securities (ILS) and reinsurance markets was a topic of discussion at the ILS Bermuda Convergence conference today, with the island’s ability to stay ahead, through its reputation for adaptability, collaboration and foresight, highlighted as key.