British-based insurtech firm Nayms Ecosystems is opening an office in Bermuda.

Nayms chose Bermuda because of its world-leading ILS market, as well as progressive legislation and regulation for digital asset businesses.

The insurtech firm is a collaboration between Daniel Roberts, its co-founder and chief executive officer, and incubator Insurtech Gateway.

There is a liquidity problem in the ILS market, with the Nayms technology being piloted as a solution.

Bermuda has taken great strides to position itself as an attractive domicile for players like Nayms and it is exciting to see the kinds of new ideas that are being developed.

We look forward to welcoming more innovators like Nayms who are showcasing the way digital assets will reshape the core infrastructure of traditional financial services.

Daniel Roberts, CEO of Nayms, said: We are very excited to be working with the Bermuda Government, the regulator and the insurance industry on the island, having so far been made to feel very welcome as we begin piloting our solution with the market.