spi

The Bermuda insurance and reinsurance market saw 34 new insurer registrations during the first-half of 2013, up from the 24 registered in the first-half of 2012 a year earlier. Special purpose insurers (SPI’s) make up a growing contribution to these statistics, with 20 of the total registered being new SPI’s so far in 2013.

In another move which should help to increase the attractiveness of Bermuda as a domicile for catastrophe bond and insurance-linked securities issuers, the Bermuda Monetary Authority (BMA) has announced a reduction in the licence fees for Special Purpose Insurers (SPI’s). The annual registration fee for an SPI has been almost halved from $11,600 down to […]