Q. How do I access a Bermuda insurance
company?
- A. By
selecting a Bermuda broker of your choice as Bermuda
insurers are not allowed to transact business with
US clients and retail brokers.
- For your reference please click
here to see a list of the Bermuda Insurance and Reinsurance Brokers
Association (BIRBA) members.
Q. How do I incorporate a captive
insurer in Bermuda?
- A. The
details of how to incorporate any Bermuda insurer
or reinsurer can be found in the brochure, Captive
Insurance in Bermuda: How and Why to Form a Captive. To
download a copy of the brochure from this website
please click
here.
Q. How do I find out information
about xyz Company Ltd. and its standing?
- A. To
research any Bermuda company, you may begin by searching
the database at www.roc.gov.bm a site established
by the Registrar of Companies.
- Once you get past the flash page, consult the menu on the left side,
where it says company search – choose search by alphabetical
order.
- The site may further prompt you for a fee, should you wish to consult
the company file.
- Should you have any further questions, the site also has contact
information.
Q. How do I subscribe to the
Bermuda Insurance Update, the Bermuda market newsletter?
- A. Subscription
is free of charge. Enter "subscribe" on
the subject line and send an email to subscriptions@bii.bm with
your name, company, position in the company, and
address.
Q. How many insurance companies
are there in Bermuda?
- A. Bermuda
has about 1,200 international insurers and reinsurers
listed on its books.
Q. How many captives are there
in Bermuda?
- A. There
are about 900 captive insurance companies in Bermuda.
Q. Who is the regulating authority
for insurers in Bermuda?
- A. For
those incorporating a Bermuda insurer, the regulators
include:
The Supervisor of Insurance (441) 278-0276,
The Ministry of Finance (441-295-5151) and
The Bermuda Monetary Authority (441-295-5278).
The Supervisor's Office is a useful first contact.
Q. How do I find a Captive Manager
to manage my Bermuda captive?
- A. Select “BIMA” in
the drop down menu under “Market Associations ” on
the top menu bar for a complete list of the membership
companies of the Bermuda Insurance Management Association
(BIMA) or simply click
here.
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