Bermuda: Insurance

Bermuda's decades-long efforts to welcome Latin American risks to the island's re/insurance market have borne fruit in the form of the many LatAm captive insurers that have become domiciled here.

On 20 March 2026, the Bermuda Monetary Authority (BMA) issued an updated Guidance Note for Recovery Planning Requirements (Guidance Note).

With the rise of insurer investment in alternative capital structures, we explore the two-step analysis required for efficient Bermuda capital treatment.

The Plan provides important insight into the BMA’s regulatory direction, supervisory priorities and emerging developments that will shape how insurers operate going forward and how Bermuda continues to strengthen its regime. We have highlighted key developments that are outlined in the Plan as they relate to the insurance sector and what they mean for insurers conducting business in Bermuda.

We are only a few weeks into the start of 2026 and already there are new and important updates relevant to certain stakeholders operating in Bermuda's insurance and reinsurance industry.

The Cayman Islands Legal Services Act and related Legal Services Regulations (the "LSA") is now fully in force, marking an important development in the regulation of legal services in respect of Cayman Islands law.