Whether the Island remains the central hub of the reinsurance world may be questioned these days, yet there is no doubt that investors, analysts and buyers alike set great store on the performance of Bermuda’s insurers and reinsurers.
With this in mind, Intelligent Insurer examines the performance of some of the biggest players on the Island during 2011 and their strategies moving forward into 2012.
The collective performance of insurers and reinsurers based on Bermuda is often used as a weathervane for the rest of the industry based in other part of the world. Yet a comparison of the companies based there can be fascinating, as their divergent strategies often yield varying results.
Many estimators now acknowledge 2011 as being the worst year for insured losses globally in recorded history. For property-catastrophe insurers and reinsurers, in particular, it was an extremely painful year and in Bermuda, where property-cat risks are the mainstay of business, the agony was especially acute.
Bermuda, Reinsurance, Insurance, 2011 results