Cryptocurrency firm Gemini sets up captive insurer in Bermuda

Jan 16, 2020 - Reinsurance News

Gemini Trust Company LLC, a cryptocurrency exchange and custodian, has set up a captive insurance company in Bermuda, with support from re/insurance brokers Marsh and Aon.

Licensed by the Bermuda Monetary Authority (BMA), the captive will provide insurance for customers of Gemini Custody, the crypto cold storage service by Gemini.

The solution will give Gemini Custody $200 million in insurance coverage, which it claims will be the largest limit of insurance coverage purchased by any ...