Bermuda Regulatory Environment - changes in 2023

Part of the Current Issues in Life Assurance (CILA) 2023 Webinar Series As the bulk annuity market continues to steam ahead, more and more insurers are now looking at ways to mitigate their increased longevity risk and capital requirements. One of these options is reinsurance to an entity based in Bermuda. In Q1 2023, the Bermudan Monetary Authority (BMA) published a consultation paper on changes to the Bermudan regulatory regime, including calculation of technical provisions and Solvency Capital Requirements. This talk will cover the Bermudan Capital Regulatory Environment for life insurers and discuss how the changes proposed by the BMA may impact on reinsurers’ future prospects.