Bermuda's BMA to Consult Industry on New Parametric SPI Class
The Bermuda Monetary Authority (BMA) is set to consult the industry on a new special purpose insurer (SPI) class focused on parametric triggers.
During a panel session at the ILS Bermuda Convergence 2025 conference, Taijaun Talbot, Assistant Director, Supervision (Insurance), BMA, made the announcement.
The industry is seeing an increasing interest in novel insurance-linked securities (ILS) structures, particularly climate-linked parametric triggers.
Sarah Demerling, Partner at Walkers Bermuda, highlighted this trend during the session.
The BMA is in the final stages of implementing this new SPI class.
Author's summary: BMA to introduce new parametric SPI class.