Notice - Consultation Paper - Proposed Insurance (Internationally Active Insurance Group Supervision) Rules 2026 (2026-08-21)

Summary

This is a BMA notice announcing publication of a Consultation Paper on proposed Insurance (Internationally Active Insurance Group Supervision) Rules 2026. The proposed Rules would implement the IAIS Common Framework (ComFrame) for supervising Internationally Active Insurance Groups (IAIGs), introducing more detailed qualitative supervisory expectations. It is a consultation notice, not a binding rule, and invites stakeholder feedback.

• Purpose: Gives effect to the IAIS ComFrame standards for supervising IAIGs.
• Focus areas: Head of IAIG responsibilities for group-wide governance, risk management and internal controls, enterprise risk management, and supervisory reporting.
• Action requested: Stakeholders are invited to submit comments on the proposals to policy@bma.bm.

No new binding requirements take effect from this notice itself; it is a call for industry input before final Rules are adopted.

Key obligations

• Stakeholders wishing to comment on the Consultation Paper must submit feedback to policy@bma.bm no later than close of business on Wednesday, 30 September 2026.

Applies to

Internationally Active Insurance Groups (IAIGs), Head of IAIG, insurers

Deadlines

• Wednesday, 30 September 2026 (close of business): Deadline for stakeholders to submit comments on the Consultation Paper to policy@bma.bm.