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The Bermuda Monetary Authority And Lloyd's Commit To Fostering Innovation And Education Access With MoU

31 May 2024

HAMILTON, BERMUDA—The Bermuda Monetary Authority (Authority or BMA) and Lloyd's signed a Memorandum of Understanding (MoU) this week to promote innovation and collaboration in the international insurance market. The agreement represents a mutual commitment to supporting, developing and facilitating the exchange of insurance industry expertise and knowledge. In signing the MoU, both parties have agreed to jointly navigate regulatory developments and explore related opportunities by leveraging the Lloyd's Lab. In addition, educational training and remote learning programmes will be delivered to the market through the Lloyd's Academy, which is based in Bermuda and across the Lloyd's global network.

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