The Bermuda Monetary Authority (BMA), Bermuda’s integrated regulator and supervisor for the financial services sector, continues to drive innovation in the Insurance Linked Securities (ILS) market.
The BMA highlights that Bermuda’s ILS market is built on a foundation of prudence and practicality, underpinned by a regulatory framework designed to respond to the evolving needs of policyholders.
Leveraging its established Special Purpose Insurer (SPI) framework, the BMA is intensifying efforts to address protection gaps arising from climate change and emerging risks.
In line with this commitment, the BMA plans to issue a Consultation Paper in the fourth quarter of 2025 proposing a new SPI framework specifically tailored for parametric products.
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