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What is the Standard Premium Rate (SPR) and what does it include?

All health insurance premiums in Bermuda include a Standard Premium Rate (SPR), set by law. The SPR is comprised of:

  • Standard Health Benefit (SHB) premium, which is retained by insurers to pay eligible SHB claims

  • Mutual Reinsurance Fund (MRF) fee, which is collected on behalf of Government’s Health Insurance Department


While the SPR for 2019-2020 remains the same as it was in 2018- 2019, the distribution of the components of this premium have changed. This means that more than 93% of the SPR now flows to the Government.

  SHB MRF Total SPR
2018-2019 $253.34 $101.97 $355.31
2019-2020 $23.34 $331.97 $355.31

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