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Bermuda proposes new classes of insurers

Posted On: Jul. 8, 2019 6:28 AM CST

Bermuda's financial regulator plans to introduce new classes of limited purpose insurers including a fully collateralized reinsurer class and an “innovation class,” The Royal Gazette reported. Under the new framework, collateralized insurers will be able to write either long-term business or general business, but cannot write both.

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