Reinsurance News

Bermuda Monetary Authority

Bermudian insurers using more reinsurance for cat exposures, finds BMA

3rd December 2018

The Bermudian re/insurance market continues to prove resilient to potential major catastrophe losses, according to the Bermuda Monetary Authority (BMA), partly due to its increasing use of reinsurance and retrocession. The BMA found that, on average, insurers ceded around 50.0% of their gross losses to reinsurers over 2017, which was an ... Read the full article

Bermuda’s re/insurance sector is committed to the EU: ABIR

7th September 2018

Bermuda's insurance and reinsurance industry remains committed to the European Union (EU), and companies domiciled on the island continue to assume increasing volumes of risk in EU member states, according to the Association of Bermuda Insurers & Reinsurers (ABIR). A recent survey by the ABIR, which collected 2017 data from all ... Read the full article

Bermuda Monetary Authority reports increase in re/insurance registrations

12th April 2018

The Bermuda Monetary Authority (BMA) has reported a recent rise in the number of insurance and reinsurance registrations on the island. 11 re/insurers registered with the BMA during the first two months of 2018, compared with just five for the same period in 2017. Registrations included three Class E Long-Term (life) commercial ... Read the full article

Bermuda re/insurance industry shows steady growth over 2017

6th March 2018

Bermuda’s re/insurance industry has shown significant growth over the last year, with companies continuing to register across sectors and contribute to the growth of the island’s job market. The Bermuda Monetary Authority (BMA) released statistics this month showing a 38% increase in the number of new insurers registered in the region, ... Read the full article

Bermuda reinsurers’ show increased catastrophe resilience

3rd November 2017

Bermuda-domiciled carriers' resilience to catastrophe events has shown consistent year-on-year improvement with capital level growth exceeding gross catastrophe exposure, according to a recent report from the Bermuda Monetary Authority (BMA). While gross catastrophe exposure for Bermuda's reinsurance sector increased by about 9% year-on-year, capital levels also increased at a slightly higher ... Read the full article

Bermudian reinsurers payout almost $73 billion to EU customers in 20 years

27th September 2017

Demonstrating the vital role played by Bermuda in helping to ensure global insurance and reinsurance market stability, the local market's reinsurers have paid out almost $73 billion to cedents from the European Union over the last 20 years. The Bermuda Monetary Authority (BMA) has collected and analysed commercial market claims data ... Read the full article

Re/insurers “confident” in Bermuda market despite challenges: BMA

27th April 2017

The Bermuda Monetary Authority (BMA) has released statistics on the combined performance of the Island's various classes of insurance, reinsurance, and insurance-linked securities (ILS) players as at December 31st 2015, revealing "confidence in the Bermuda market" despite the tough operating landscape. According to the BMA's most recent information, which is based ... Read the full article