What Bermuda Monetary Authority Insurance Prudential Standards (Enhanced Capital Requirement, BSCR, and Group Supervision Rules) requires
This regulation requires Bermuda-based commercial insurers (primarily Class 3B, 4, and insurance groups) to maintain available statutory capital and surplus at or above the Enhanced Capital Requirement (ECR), which is determined by the Bermuda Solvency Capital Requirement (BSCR) model. As mandated by the Insurance Act 1978 and associated Prudential Standards Rules, this framework ensures insurers can meet policyholder obligations under stress scenarios and establishes comprehensive group-wide supervision.
Pillar: Banking & Global Finance · Authority: Bermuda Monetary Authority (BMA) · Version: 1.0.0 · Last updated:
Primary source: https://www.bma.bm/standards-regulations
SHA-256 integrity: 29fbb83d400dad7784d0440b80700fcb9d189ef814ca2e4ea2c071dff5ad3738
Primary Citations — 6 traced to source
- Bermuda Insurance Act 1978, Section 6C: Enhanced Capital Requirement and Target Capital Level
- Bermuda Insurance (Prudential Standards) (Class 4 and 3B Solvency Requirement) Rules 2008
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