The Bermuda insurance regulatory structure is supporting consistently high levels of global special purpose insurer registrations, regulators said. In the nine months to September 2012, 15 SPIs registered in Bermuda, up from 14 in the same period last year, and a total 33 new insurers registered, against 35. "The process of convergence between the (re)insurance industry and the capital markets, combined with Bermuda's quality environment, continues to attract sophisticated clients to the island. The Authority is pleased that the framework put in place in late 2009 has supported an increase in SPI registrations over the last three years," said Shelby Weldon, director, licensing and authorisations, Bermuda Monetary Authority. A BMA spokeswoman told Compliance Complete that the SPI framework provided appropriate regulatory oversight for SPIs. This supports an option for alternative risk transfer opportunities, driven by Bermuda's expertise and available to the global market. "As such,
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