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Offshore
Bermuda
Bermuda is a global authority in the captive market, reaching full Solvency II equivalence in 2016 following oversight by the Bermuda Monetary Authority (BMA). Captives benefit from a robust market that provides open-market underwriting capacity not easily found elsewhere. As a reciprocal jurisdiction under the NAIC, Bermuda-based insurers can operate in the US without additional capital requirements.
Quick Facts
Jurisdiction
Offshore
Legislation
BMA Risk-Based Framework
Tax Environment
Tax-competitive environment
Financial Requirements
Minimum Capital & Surplus
| Structure Type | Minimum Capital |
|---|---|
| Class 1 / Class A | $120,000 floor |
| Class 2 / Class B | $250,000 floor |
| Class 3 | $1,000,000 floor |
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Regulatory Framework
BMA Risk-Based Framework
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Tax Environment
Tax-competitive environment
Considering Bermuda for Your Captive?
Our consultants provide end-to-end guidance on domicile selection, feasibility, and formation. Let us help you determine if Bermuda is the right fit.