The following represents the procedure involved in the incorporation and registration process for commercial and captive insurance companies. Please note that the Registrar of Companies is a separate agency from the Bermuda Monetary Authority. You may view their website here: https://www.gov.bm/department/registrar-companies
The following represents the procedure involved in the incorporation and registration process for commercial and captive insurance companies.
- Submit preferred name, with two alternate names
- Will be reserved for six months
Complete submission on the Registrar of Companies (ROC) portal (including the Memorandum of Association)
Application for Registration Approved by the ROC
Submit Licensing Application to BMA for Review by Assessment and Licensing Committee; successful applications approved for licensing
Apply for registration to the BMA’s Insurance Licensing Department, including the final business plan, applicable fees, COI, Form 1B/ Form 3 and any items requested from the IALC as detailed in the formal IALC Approval letter to: Authorisations_eApplications@bma.bm.
BMA Issues Insurance Licence
The insurance company is legally permitted to conduct insurance business
