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Pursuant to Section 17A of the Insurance Act 1978 (Act), and Section 23 of the Insurance (Group Supervision) Rules 2011, the Bermuda Monetary Authority (Authority or BMA) requires Groups and Class 4, 3B, 3A, E, D and C (re)insurers to file audited general purpose financial statements as part of their annual filings, which the Authority will subsequently publish. Under the provisions of Section 56 of the Act, subject to certain conditions and in exceptional circumstances, the Authority may also exempt a (re)insurer from the requirement to file general purpose financial statements. The conditions for such modified filings may include permission for the Authority to publish legal entity aggregate statutory financial statements and group general purpose financial statements.

In addition, the Authority requires Class 4, 3B, 3A, E, D and C (re)insurers to file a Declaration of Compliance as part of their annual filings.



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