The Bermuda Monetary Authority registered 64 new (re)insurers in 2015, compared with 65 registrations in 2014.

Of the new companies, 22 are limited-purpose insurers or captives, up from the 16 new captives registered the previous year. The regulator thinks that the registration of captives is on the increase because they not only reduce insurance costs but are important components of the parent companies’ burgeoning risk management programmes. Captives registered between July and December 2015 cover a diverse range of risks including drivers’ insurance in Peru.
 
Canada and Latin America are still main sources of registration, a fact that the regulators are welcoming because they have been targeting them. However, the United States remained by far the greatest source of Bermuda’s captive formations during the second half of 2015. They have, however, noted that Bermuda’s captives remain 'out of scope of' the supervisory requirements of the European Union's Solvency II directive. These only apply to Bermuda’s commercial (re)insurers and insurance groups. On the Long-Term (life) (re)insurance side, nine new Class C, D and E commercial life (re)insurers were registered, the same number as in 2014. Among the new life (re)insurer registrations is a company designed to reduce the cost of cancer treatment in China. A total of 20 new special purpose insurers (SPIs) were registered during 2015, as against 28 in 2014. In the asset management business, the BMA registered 83 new funds in 2015, slightly up from 80 in 2014. Included among the new 2015 funds were 32 Class A and Class B Exempt Funds (up from 25 the previous year).