Bermuda registers 46 insurers in first 10 months of 2026

Bermuda registered 46 insurers in the first 10 months of 2026, four of them in October, including two Class E companies, according to Bermuda Monetary Authority's monthly figures reported by the Royal Gazette. Mariner Re Ltd was registered as a Class E insurer effective Oct. 1, and YF Life Insurance Bermuda Ltd effective Oct. 19.

Mariner Re is a new life reinsurer backed by a $750 million equity investment from Teachers Insurance and Annuity Association of America, formed to support growth in Symetra Life Insurance Company's annuity business. YF Life Insurance Bermuda is a wholly owned subsidiary of Yunfeng Financial Group, a publicly listed Chinese financial services company. Zhitong Finance reported the Bermudian business is key to expanding the group's global insurance footprint and intends YF Life Bermuda to target international client markets.

For allocators and cedents sizing offshore life and annuity capacity, October added two Class E balance sheets, one carrying a $750 million equity commitment, as Private Wealth Daily previously reported. Total registrations across insurers and intermediaries reached 55 in the first 10 months of 2026, against 48 at the same stage of 2025, the BMA figures show.

Restricted special purpose insurers accounted for 13 of the 2026 insurer registrations through October, the largest category. Class E followed with 11, collateralised insurers with five, and Class C with four.

Also in October, AIA Global Insurance Company Ltd was registered as a Class C insurer effective Oct. 2, and Project Pearl ISAC Ltd received a Class A registration effective Oct. 21. The Insurance Assessment and Licensing Committee approved six applications in October and deferred one.

Nine insurance intermediaries were registered in the first 10 months of 2026, comprising seven agents, one manager and one broker.