Bermuda Says It’s Watching Private Equity Insurers Carefully
January 8, 2024 by Allison Bell
The Bermuda Monetary Authority is working to ease outside observers’ concerns about private equity firms’ rush to own life and annuity insurers based in Bermuda.
The agency recently put out a paper emphasizing that it is already addressing those concerns.
“PE insurers require an intensified supervisor engagement,” Bermuda officials say in the new paper. “Accordingly, within the BMA, they are scoped for close, intrusive and ongoing supervision due to the unique supervisory challenges they present.”