Bermuda Monetary Authority Launches Streamlined Innovation Pathways for Lloyd’s Lab Alumni

1 PUBLIC PUBLIC 43 VICTORIA STREET HAMILTON 12 BERMUDA PHONE: (441) 295-5278 FAX: (441) 292-7471 EMAIL: enquiries@bma.bm PRESS RELEASE For Release: 22 April 2025 Bermuda Monetary Authority Launches Streamlined Innovation Pathways for Lloyd’s Lab Alumni HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) has announced a streamlined process designed to help firms with credible solutions scale more efficiently in Bermuda. The BMA’s Market Entry & Innovation Pathway is now available for participants and alumni of the Lloyd’s Lab with Bermuda-focused solutions. The announcement of the new pathway was made by the BMA on 10 April 2026, during the 2026 BMA Forum, where Lloyd’s were in attendance, at the Hamilton Princess & Beach Club in Hamilton, Bermuda. By aligning more closely, BMA and Lloyd’s aim to boost the quality, credibility and scalability of innovation in the Bermuda and London markets. Firms can access live testing via the BMA’s Regulatory Sandbox, as well as structured regulatory and industry engagement via the Authority’s Innovation Hub. “This streamlined process strengthens Bermuda’s position as a jurisdiction where innovation can thrive by combining regulatory clarity with global connectivity,” said Gerald Gakundi, Head of Insurance and Funds and Deputy Managing Director at the BMA. “We’re excited to deepen our shared commitment with Lloyd’s to jointly drive innovation and excellence across the insurance industry. As markets evolve, partnerships like this play an important role in helping to scale innovation responsibly.” The Lloyd’s Lab, 10-week Accelerator Programme aims to harness the transformative potential of technology and innovative thinking to address emerging risks and provide proactive solutions to future challenges. Lloyd’s Lab Cohort 14 drew upon the skills and talents within Bermuda's insurance sector, attracting firms with Bermuda-focus solutions. “For companies participating in Lloyd’s Lab, this initiative provides a clearer route into Bermuda—a jurisdiction with a well-established, proportionate regulatory framework and deep insurance expertise,” said Dawn Miller, Chief Commercial Officer, Lloyd’s and CEO, Lloyd’s Americas. “By launching these innovation pathways, the BMA has created a more direct route for firms with Lloyd’s Lab-validated solutions, supporting efficient market

2 PUBLIC PUBLIC adoption while maintaining robust regulatory standards.” The new pathway builds on a 2024 Memorandum of Understanding signed by the BMA and Lloyd’s, followed by the joint Lloyd’s Lab Cohort 14 in 2025, which focused on Bermuda-specific problem statements. The latest announcement follows several months of engagement between the BMA and Lloyd’s to better connect their innovation ecosystems. Media Contact: Marianne Suschak-Matvey, Senior Advisor, Public Regulatory Advocacy and Global Engagement; Cellular: (441) 707-0219; E-mail: msmatvey@bma.bm -END-