Bermuda: Corporate Governance

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BMA Sets Out Phased Path To A Bermuda Insurance Resolution Regime
The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc
Bermuda Insurance
A
Appleby
Article
Capital Rich, Softening Rates, Big Opportunity: The Growth Dilemma
Senior executives from Bermuda's reinsurance market gathered in Monte Carlo to discuss the industry's current state and future challenges. While the market remains profitable with strong capital positions, participants debated whether underwriting discipline can be maintained amid softening rates and the pressure to deploy excess capital. The roundtable also explored emerging opportunities in complex risks like data centres, casualty ILS, and cyber insurance.
Bermuda Insurance
A
Appleby
Article
BMA Consults On AI Guidance For Bermuda's Financial Services Sector
The Bermuda Monetary Authority has released a consultation paper proposing principles-based guidance on artificial intelligence use in financial services, clarifying how existing regulatory frameworks apply without introducing new AI-specific legislation. The guidance establishes eight core principles and detailed expectations for governance, risk management, and oversight of AI systems, including emerging agentic AI capabilities. Regulated entities must now assess their AI inventories, board oversight arra
Bermuda Finance
W
Walkers
Article
New Police Clearance Requirement For Key Persons Of Bermuda Direct Long-Term Insurers And Insurance Intermediaries
The Bermuda Monetary Authority has introduced a new Police Clearance Certificate requirement for Key Persons of regulated financial institutions, effective October 2026. This regulatory change strengthens vetting processes and aligns Bermuda with international standards by requiring additional criminal history documentation during approval processes. In-scope insurers must now navigate new compliance obligations for controllers, officers, and other designated Key Persons.
Bermuda Insurance
C
Conyers
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