With the continuous development of magnetic bearings in aerospace and military, reactor turbine power generation, flywheel energy storage and other fields, the request for the reliability of magnetic bearing system becomes higher. In order to improve the reliability of the magnetic bearing, a novel axial magnetic bearing with multi rings in peripheral direction (AMB-MRC) is proposed. By studying the influence of rings number and current direction through coils on bearing capacity, as well as the method of redundant reconstruction and the property after reconstruction, the corresponding design criteria are proposed. The redundancy, bearing capacity and eddy current loss of the AMB-MRC compared with the existing AMB-MRR with 2 rings. The results show that the bearing capacity of proposed novel bearing is nearly equal to AMB-MRR with 2 rings when their volume is the same, but the redundancy of proposed novel bearing is better in improving the reliability of the magnetic bearing system.