Bermuda
- Year captive legislation was passed
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- Total number of captives as of year-end 2025
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- Total new captives in 2025
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- Total surrendered licenses in 2025
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- Number of pure / single parent captives as of 2025
- 406
- Number of group / association captives as of 2025
- 57
- Number of sponsored / cell company captives as of 2025
- 51
- Number of individual cells / series as of 2024
- 2000 (estimated)
- Number of other types of captives (industrial insured, special purpose, SPFI, pooling, branch, agency) as of 2025
- 96
- Types of captives allowed
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- Single parent captives
- Association captives
- Group captives
- Protected cell/segregated portfolio companies
- Special purpose captives
- Special purpose financial captives
- Number of full-time employees in captive regulatory department
- 10-15
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Initial licensing and incorporating fees required by the domicile
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- Annual requirements
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- Annual fees
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- Premium tax rate
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- Minimum capital (broken out by type of captive)
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$120,000 for Class 1 (Single Parent)
$250,000 for Class 2 (Group or SPC with less than 20% Third-Party business)
$1,000,000 for Class 3 (SPC, Group, Association, Agency writing more than 20% but less than 50% Third-Party business) - Applicable Acts/Enabling Legislation
- The primary legislation relating to insurance business is the Insurance Act 1978, as amended, and related regulations.
- Captive Administrator’s name and contact information
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- Speed of licensing
- 2-4 weeks
- Regulator
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- Address and contact information of Regulatory Department
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- Website address
- https://www.bma.bm