AkinovA Granted Bermuda License to Operate as Electronic Insurance Marketplace January 20, 2021
AkinovA (Bermuda) Ltd., the wholly owned Bermuda trading subsidiary of AkinovA Ltd., has been granted the first “Insurance Marketplace Provider” license by Bermuda’s financial services regulator.
This new category of insurance intermediary provides capital providers, brokers, agents and cover buyers with a safe and remote electronic space to enable them to exchange information and agree transactions within a low friction environment, said London-based AkinovA Ltd. in a statement.
The license from the Bermuda Monetary Authority (BMA) enables AkinovA to facilitate the transfer of insurance and reinsurance risks by cedents and their intermediaries (brokers and agents) to a wide range of both traditional and non-traditional capacity providers, using its digital risk transfer marketplace in a fully regulated environment.