With close to a dozen international firms seeking incorporation support in Bermuda during its first year, Exordium is seeing demand from markets including the US, UK, and Canada as companies explore strategic footholds in the island’s insurance and reinsurance sectors.
Established in the summer of 2024, Exordium provides incorporation and business consultancy services for clients entering Bermuda’s financial services market.
The company was founded by Helen Souza, who also serves as chief executive officer. Its services target organizations in insurance, reinsurance, captives, insurance-linked securities (ILS), fintech, asset management, and related sectors. The firm also works with high net worth individuals, family offices, and service providers.
Souza said incorporating a business in Bermuda involves several steps. “You have to navigate regulation, immigration, hiring local talent, office rental… that is just the start,” she said. She added that companies benefit from having someone based on the island to provide advice and help develop practical strategies.
Exordium’s clients so far are mainly from North America and the United Kingdom. The company has worked with nearly a dozen firms evaluating Bermuda as a business location. According to Souza, interest is also emerging from technology service providers in the insurance and reinsurance markets.
Souza’s background includes roles in banking and captive management. She previously worked at the Bermuda Business Development Agency and maintains connections in the island’s international business sector. “My experience and knowledge have laid the foundation for setting up this company,” she said.
She also noted that Bermuda continues to attract companies in newer segments. “Bermuda has always been at the forefront of innovation when it comes to risk management. Now it is adding to that expertise with innovative insurtech and fintech companies looking to incorporate in this jurisdiction,” she said. “Bermuda has an established track record for large companies wanting to set up shop quickly and efficiently, in an ecosystem that understands and caters to their business.”
Based in Bermuda, Exordium assists global clients in financial services, insurance, and fintech through regulatory guidance, market entry support, and business planning.
What are your thoughts on the increasing presence of insurtech and fintech service providers in Bermuda? Let us know in the comments.
