The introduction of a new class of insurer in Bermuda,
"Collateralised Insurers", is expected to be beneficial
to both insurance-linked securities (ILS) funds' and their
investors, according to Sarah Demerling, Partner at law firm
Walkers.
Proposed earlier this year via a consultation paper from the
Bermuda Monetary Authority (BMA), the provision for the supervision
and regulation of the new Collateralised Insurers class came into
effect on August 5th, 2019 as part of the Amendment Act 2019, which
came into operation and which amends the Insurance Act 1978.
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