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The insurance industry in Bermuda is projected to grow at a steady pace as a result of new regulations and consistent growth in external insurance business, such as offshore and captive.
After years of seemingly endless negotiations, Solvency II finally came into force on January 1, 2016. With its implementation, the European insurance industry has completed its move to risk-based supervision, thought to be more in keeping with accurately monitoring and regulating the key risks faced by insurers, particularly following the financial crisis.
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