Jan 2024
Consolidated Acts
Offshore Captive Insurance
The Bermuda Insurance Act 1978 and Regulations for Captive Insurers contains consolidated versions of:
- The Insurance Act 1978
- The Insurance Accounts Regulations 1980
- The Insurance Returns and Solvency Regulations 1980
- The fee schedule applicable to insurance entities as set out in the Bermuda Monetary Authority Act 1969, Fourth Schedule
- All amendments to date
The Bermuda Insurance Act 1978 and Related Legislation for Captive Insurers also includes the following, excluding the schedules:
- Consolidations of the Insurance Accounts Regulations 1980
- The Insurance Returns and Solvency Regulations 1980
- The Insurance (Prudential Standards) (Insurance Managers Annual Return) Rules, 2017
- The Insurance (Prudential Standards) (Insurance Brokers and Agents Annual Return) Rules 2018
Consolidated versions of the above Insurance Rules, Regulations, and Schedules can be found on the Bermuda Monetary Authority
Bermuda Captive Insurance
The most recent legislative changes include:
- consequential amendments to sections 1, 27F, 27H and 30JA of the Insurance Act 1978 made by Bermuda Monetary Authority Amendment Act 2023, effective 1 January 2024
- the new Fifth Schedule to the Bermuda Monetary Authority Act 1969 which replaces the Insurance Act 1978 provisions that were previously included in the Fourth Schedule.
Other recent legislative updates include:
- amendments to the Insurance Act 1978 made by the Insurance Amendment Act 2023, operative 30 May 2023
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