Leverage the Bermuda Market
The Bermuda Monetary Authority (BMA) provides a robust yet flexible regulatory system that is highly respected internationally. Bermuda's regulations are recognized as "Solvency II equivalent" by the EU and it is a "Reciprocal Jurisdiction" for the US National Association of Insurance Commissioners (NAIC), which streamlines cross-border business without additional capital or regulatory burden. Companies are leveraging this tax and capital efficiency jurisdiction to gain a competitive edge.
Arocha & Associates GmbH helps insurers and reinsurers compute or review the BMA’s Economic Balance Sheet per BMA. Our approach combines actuarial precision, system readiness, and clear communication between actuarial, finance, and IT functions.
Our Support Includes
Methodology Review
The current methodology is getting updated, with changes in the Risk Margin and the Scenario Based Approach, as well as updates in the Bermuda Solvency Capital Requirement. We assist clients in modeling insurance liabilities and selecting appropriate approaches and quantifying the impact of regulatory evolution. Our goal is to make model results traceable, auditable, and aligned with both actuarial logic and financial reporting requirements.
Model Risk Management
New requirements for data quality, validation, and controls, alongside policies for model risk management are coming up. We assist clients in setting up the appropriate governance framework to avoid negative scrutiny by the BMA authority.
Section 6D Modeling Adjustment
Deviations from the framework are possible if approved by the Bermuda Regulator. We support companies requesting deviations and ensure they comply with the requirements associated with these deviations.
Why Choose A&A
- A&A combines deep actuarial expertise with hands-on implementation experience across Europe, Latin America, Asia, and Africa.
- We provide independent, practical guidance — not tied to any vendor platform.
- Our advice is focused on clarity, traceability, and control, ensuring your IFRS 17 framework supports sustainable financial reporting.
Ready to Talk?
Whether you are completing your first year of IFRS 17 reporting or preparing for a model enhancement phase, our team can help you optimize your processes, ensure compliance, and build confidence in your results.