Coming off a remarkable 2025, which saw the registration of new collateralized insurer class of companies in Bermuda climb to its highest level ever, early indicators for Q1 2026 suggest a continuation of this growth trend with seven new special purpose insurers (SPIs) and two new collateralized insurers having registered in Bermuda during the opening quarter.
The latest data available from the Bermuda Monetary Authority (BMA) shows that company structures for use in insurance-linked securities arrangements, as well as other alternative or third-party reinsurance capital related use-cases, remains very strong in 2026.
As we previously reported, in full-year 2025, the number of SPIs registered by the Bermuda Monetary Authority (BMA) reached a staggering 25, an increase of four over the 21 SPI’s registered in 2021.
At the same time, a total of 10 new collateralized insurers were also registered in Bermuda last year too.
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