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17 May 2012

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Bermuda regulatory boost for ILS

6 October 2009

The Bermuda Monetary Authority (BMA) is enhancing insurance regulation in a push to become the ILS jurisdiction of choice.

In October the BMA published regulatory proposals on capital requirements, self-asessment of risk and solvency, and a code of conduct for insurers.

The papers introduce a new supervisory approach for Special Purpose Insurers (SPI) - a class of insurer introduced by the BMA in 2008 - used by capital markets investors to access (re)insurance risk.

The rules will demand much greater...

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