• US $244M


  • US $6.3M


  • 366%


  • US $83M


  • US $151M


The Company achieved Gross Revenues of more than $244 million and a Net Income of more than $6.3 million for the fiscal year.

Operating within Solvency II equivalent regulatory parameters, the Company has strengthened the balance sheet and attained a solvency ratio of more than 366%.

This exceeds regulatory requirements by a substantial margin and even surpasses the Company's risk appetite by over 170 percentage points.

Furthermore, the Company's liquidity margin is securely higher than both regulatory requirements and its risk appetite.

Liquid Assets are now near $83 million , and reserves maintained for the Company's obligations to its members are more than $151 million.

The Financial Condition Report (FCR) summarizes Best Doctors Insurance Ltd.'s (BDIL) financial condition regarding the Company's business performance, governance structure, risk profile, solvency valuation and capital management policy. In addition, the FCR includes the company's required and available statutory capital.

Best Doctors Insurance, Ltd. uses the standard Bermuda Solvency Capital Requirement (BSCR) model to assess the Enhanced Capital Requirement (ECR), the required statutory capital and surplus. Bermuda was deemed Solvency II equivalent under the European Union's (EU) Solvency II initiative effective January 1, 2016.

A copy of the latest FCR can be found here.

The Company is also audited by KPMG and annually files a Financial Report which is published on the Bermuda Monetary Authority's (BMA) site. The financial reports are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP), which is a set of accounting standards that aim to generate accurate, comparable, and clear financial information.

KPMG provided an unqualified opinion indicating the “financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2023, and 2022, and the results of its operations and its cash flows for the years then ended in accordance with U.S. generally accepted accounting principles.”

A copy of the latest Audited GAAP Financials can be found here.