The Bermuda Ministry of Finance published a readout of the Financial Policy Council’s 28th meeting, held on 11 April 2025, highlighting the launch of the Council’s first roundtable with Bermuda-based international long-term insurers and discussions on financial stability risks, (re)insurance supervision and crisis management planning. The roundtable included senior participants from Bermuda International Long Term Insurers and Reinsurers and was framed as a forum to address sector-specific risks and opportunities relevant to financial stability and to improve mutual understanding between insurers and government. The Council also reviewed recent enhancements to Bermuda’s regulatory framework for life reinsurers, including studies published by the Bermuda Monetary Authority and associated supervisory measures, and agreed that closer communications and collaboration between the Ministry and the Bermuda Monetary Authority would be beneficial. Banking and insurance crisis management, recovery and resolution planning was discussed, including work to create a unified resolution authority with powers to act quickly to contain a crisis, alongside consideration of geopolitical risk, market volatility and international tax developments and progress on implementing recommendations from the 2023 Financial Policy Council Review. The Council noted this was the first meeting for Deputy Chair Jill May as she works with Sir Andrew Large on the handover of Deputy Chair responsibilities, and it scheduled its 29th meeting for 24 July 2025, with further insurer roundtables anticipated.

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