Notice - Proposed Enhancements to the Regulatory Regime and Fees for Commercial Insurers Update (2023-03-27)

Summary

This is a brief BMA notice updating stakeholders on the Bermuda Solvency Capital Requirement (BSCR) templates that were originally published on 27 February 2023. It informs commercial insurers that the 'company-specific parameters' tabs of those templates have been revised and re-published.

• What changed: The BSCR templates' company specific parameters tabs have been updated and re-published on the Authority's website.
• Use of updated models: Insurers are encouraged to use the updated models, but may continue using the originally published models if the changes do not affect them.
• Where to find them: Updated models are available at the BMA's discussions and consultation papers page.
• Contact: Questions should be directed to riskanalytics@bma.bm.

Applies to

commercial insurers