Bermuda registers 10 new captive insurers in 2013 first half

The Bermuda Monetary Authority reported registering 10 new captive insurers among the 34 insurance companies it registered during the first half of 2013.

The BMA had registered five new captives and 13 insurers total during the year's first quarter.

The first-half registrations also included 12 new special-purpose insurers, according to a statement from the BMA, four of them registered in the second quarter and eight during the first quarter.

The BMA statement said Bermuda special-purpose insurers are projected to underwrite more than $5 billion in risk over the next five years.