The Bermuda Financial Authority launched the prior-approval requirement for brand spanking new long-term block reinsurance transactions in January 2023, making use of to all Class C, D and E life reinsurers. The BMA up to date and clarified the scope of that requirement in April 2025, including element on asset modelling, documentation requirements and reconciliation between ceding firms’ complete asset necessities and Bermuda’s Financial Stability Sheet framework. A separate enhanced public disclosure regime took impact in January 2026. A 15% company tax, aligning Bermuda with the OECD’s world minimal, additionally got here into power this yr.
