Bermuda // Well placed to meet your actuarial needs.

The Bermuda market began as a center for captives in the 1960’s and has evolved over the years to become one of the world’s leading insurance markets. There are approximately 1,420 insurance companies incorporated in Bermuda of which 989 are captives (source:

Bermuda provides many advantages as an insurance domicile including a high level of cooperation between insurance companies and regulators, a tax-friendly environment, a sound monetary system, good infrastructures and the presence of talented business professionals.

While Bermuda has built a reputation as a business friendly jurisdiction, it has also put in place several statutory and regulatory requirements to ensure that business is conducted responsibly. From a regulatory standpoint, the Bermuda Insurance Act 1978 (“the Insurance Act”) requires each Class 2, Class 3, Class 3A, Class 3B and Class 4 insurer, and when directed by the Bermuda Monetary Authority (“BMA”) a Class 1 insurer, to appoint an individual as a loss reserve specialist (“LRS”) to provide the Statement of Actuarial Opinion. For more information please refer to