ILS vehicles drive new reinsurer registrations

The Bermuda Monetary Authority said that 11 new insurers and reinsurers registered with the regulator to operate on the island in the first two months, compared with five registrations in the first two months of 2017, Artemis.bm reports. The increase was driven special purpose insurers registered for insurance-linked securities transactions. The regulator said that three special purpose insurers, all of which are catastrophe bond or other ILS vehicles, registered with the authority, compared with just one registration in the first two months of 2017.

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