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Press Release - Bermuda Monetary Authority Cancels Insurance Registration Of Signify Insurance Ltd.

2 February 2022

HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) has cancelled the insurance registration of Signify Insurance Ltd. (Company), a Class 1 insurer, for breaches of the Insurance Act 1978 (Insurance Act).

Exercising its powers to cancel the registration of the Company pursuant to the provisions of Sections 41(1)(b) (v) and (viii) of the Insurance Act, the Authority is satisfied that the Company was in breach of two key areas, in that the Company:

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