The Bermuda Monetary Authority has made available the Quarterly Financial Return templates for Insurance Groups and commercial insurers for the quarter ended 31 March 2025 and set an additional reporting expectation linked to catastrophe monitoring. Insurance Groups and Class 4, Class 3B and Class 3A insurers that are required to submit quarterly financial returns should include their exposure to the 2025 California Wildfire events based on the latest loss estimates in the ‘Catastrophe Exposure’ tab under ‘Underwriting Loss Event #1’. Firms that provided a preliminary best-efforts estimate in the Authority’s data call that closed on 31 March are required to update those estimates in their quarterly filings.
Bermuda Monetary Authority 2025-04-03
Bermuda Monetary Authority releases quarterly financial return templates and requires updated reporting of 2025 California wildfire exposure
The Bermuda Monetary Authority has released the Quarterly Financial Return templates for Insurance Groups and commercial insurers for Q1 2025, adding a reporting requirement for catastrophe monitoring. Insurers must report their exposure to the 2025 California Wildfire events using the latest loss estimates in the 'Catastrophe Exposure' tab. Firms that submitted preliminary estimates in the recent data call must update these in their quarterly filings.