In the second quarter of 2012, Bermuda saw a three fold increase in the number of insurer registrations over those in the first quarter. This growth was mainly driven by the increase in registrations of Special Purpose Insurers (SPIs). SPIs have proved particularly popular as vehicles for issuing catastrophe bonds (CAT bonds).
It is expected that this trend will continue in the future due to the continuing favourable market conditions for the establishment and issuing of CAT bonds and other insurance linked securities.
Detailed registration figures can be seen at BMA Statistics.
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