Consultation On Proposed Insurance Rules
The Bermuda Monetary Authority [BMA] has published a consultation paper on proposed Insurance [Internationally Active Insurance Group Supervision] Rules 2026.
A spokesperson said, “The paper highlights the Authority’s commitment to supervising the insurance sector and developing a regulatory framework that adequately addresses the nature and level of risks present in the global market. The BMA has been actively progressing the implementation of the International Association of Insurance Supervisors [IAIS] Common Framework [ComFrame] for the supervision of Internationally Active Insurance Groups [IAIG].
“The proposed Rules will seek to give effect to ComFrame by introducing more granular qualitative supervisory expectations, with a particular focus on the Head of IAIG’s responsibilities regarding group-wide governance, risk management and internal controls, enterprise risk management, and supervisory reporting. Stakeholders are invited to contribute their feedback on the proposals set out in this CP and should send comments to policy@bma.bm no later than the close of business on Wednesday, 30 September 2026.”
The full BMA Consultation Paper follows below [PDF here]:
