Pharma giant forms Bermudian captive
Created: Jul 17, 2019 08:00 AM
Daiichi Sankyo, the second-largest pharma company in Japan, has registered a Class 1 insurer in Bermuda according to the BMA (File photograph)
A global pharmaceutical company has formed a captive insurance company in Bermuda.
The Bermuda Monetary Authority stated that Daiichi Sankyo, the second-largest pharma company in Japan, which owns the American biotechnology company Plexxikon, has registered Daiichi Sankyo Reinsurance Ltd as a Class 1 insurer.
Bermuda is home to more than 700 captive insurers.
