Bermuda Registered 2 New Captive Insurance Companies in July

Bermuda registered two new captive insurance companies in July, according to information released by the Bermuda Monetary Authority (BMA).

The two newly licensed Bermuda captives are Mackinlay Insurance Limited, a Class 1 single-parent captive, and Crescent Insurance Limited, a Class 2 multiowner captive.

In addition to the two new captives registered in July, during the month the BMA also registered Ivy Peak Co-Invest Re Limited, a long-term Class E insurer, and Radnor Re 2023-1 Ltd., a restricted special purpose insurer.

With the two new captives registered in July, Bermuda has registered six Class 1 single-parent captives and five Class 2 multiowner captives through the end of the month. In May, Bermuda also registered Inver Re (Bermuda) SAC Ltd., a Class 3 segregated accounts company.