Reinsurance News
Bermuda
The island of Bermuda is a key global insurance and reinsurance hub, with many of the world’s largest specialist companies located there.
Bermuda’s regulatory and business environment makes it an attractive and efficient place to operate insurance and reinsurance companies, while its proximity to the United States means the Bermuda market is a key trading partner for insurers and clients there.
Bermuda’s property, casualty and life insurers and reinsurers operate across 150 countries, while the Bermuda market reached $171 billion in gross written premium for 2023, up from $145 billion in 2022.
Bermuda reinsurers represent around 36% of the global reinsurance market, based on property/casualty net premiums earned.
Read all of our Bermuda insurance and reinsurance market news and analysis below.
Conduit Re’s Nick Pritchard joins Willis Re in Bermuda
1st April 2026
Willis Re, a reinsurance advisory and broking joint venture between Bain Capital (BCIS) and WTW, has welcomed Nick Pritchard to its Bermuda team. Pritchard brings more than 20 years of industry experience spanning underwriting and broking within property reinsurance and retrocession. He has built long-standing relationships with clients and markets in ... Read the full article
Barrowclough to oversee PFI’s Bermuda platforms as President
30th March 2026
Joseph Barrowclough has been appointed President of Bermuda Reinsurance at US insurance and investment firm Prudential Financial Inc. (PFI), overseeing Gibraltar Re and Lotus Re. Gibraltar Re and Lotus Re are Bermuda-based reinsurance companies and wholly-owned subsidiaries of PFI. They act as internal reinsurers, focusing on managing capital efficiency for affiliated Prudential ... Read the full article
Marsh Risk launches Bermuda-based excess casualty facility for US clients
18th March 2026
Insurance broker Marsh Risk, a business of Marsh, has launched a new Bermuda-based insurance facility, BX1, designed to deliver significant excess casualty capacity to US-based clients. BX1 provides US clients facing a demanding casualty market with a unified $50 million block of excess casualty capacity. With consolidated capacity from leading Bermuda insurers ... Read the full article
Markel names Kristen Dardia as Head of Portfolio Analytics, US & Bermuda
11th March 2026
Markel Insurance, the insurance operation within Markel Group Inc., has appointed Kristen Dardia as Head of Portfolio Analytics, US & Bermuda, based in New York. In her new role, Dardia will lead Markel's advanced analytics, technical pricing, and portfolio management capabilities across the two regions. This appointment aligns with the insurer’s long-term ... Read the full article
RGA names Logan Blake as President of Bermuda Operations
5th March 2026
Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer, has announced the appointment of Logan Blake as President of Bermuda Operations. Blake brings more than 20 years of actuarial experience across multiple practice areas, including reinsurance, product development, individual life and annuities, Bermuda EBS, US GAAP/STAT accounting, capital ... Read the full article
Reinsurers largely in agreement that cat pricing will decline into 2027 absent a major event, say analysts
4th March 2026
Reinsurers at the 2026 annual conference of the American Insurance & Financial Analysts (AIFA) were broadly aligned that catastrophe pricing is likely to continue declining into 2027 unless a materially larger loss event disrupts capital. Analysts from Goldman Sachs, the investment bank and financial services firm, reports that brokers and carriers ... Read the full article
QBE launches primary insurance offering in Bermuda
4th March 2026
QBE, an international insurer and reinsurer, has announced the launch of its primary insurance offering in Bermuda as part of its International Markets business. The offering will initially focus on Property and Excess Casualty, lines that are often best served through the Bermudian market. Both portfolios will be underwritten in accordance ... Read the full article
Foundry Insurance Services launches in Bermuda, led by Andrew Markus
3rd March 2026
A newly established centralised management platform for the life and annuity sector, Foundry Insurance Services Ltd. (Foundry), has officially launched in Bermuda. The firm is led by Andrew Markus as Chief Executive Officer (CEO) and focuses on investment, risk, and capital management. Markus is a seasoned Bermuda insurance executive and is ... Read the full article
Fidelis Insurance increases common share repurchase authorisation to $400m
20th February 2026
Fidelis Insurance Group, a global specialty insurance and reinsurance company based in Bermuda, has expanded its capital management initiatives, increasing the current common share repurchase authorisation to $400 million. The expanded programme allows the company to buy back shares through open market purchases, accelerated share repurchases or privately negotiated transactions. This move ... Read the full article
BDO expands global presence with launch of Bermuda office
5th February 2026
BDO, a provider of professional services, has expanded its global footprint with the official launch of BDO Bermuda, enhancing its ability to serve clients with Bermuda-domiciled structures. This expansion underscores BDO’s commitment to delivering audit and advisory services across the region, with Bermuda representing a strategically important jurisdiction for international business, ... Read the full article
Price Forbes expands cross-class Lectio facility to Bermuda
2nd February 2026
Global specialty broker Price Forbes has announced the launch of its cross-class follow facility, Lectio, in Bermuda, extending the facility’s premium scope to around $1.3 billion. The facility will initially offer a Bermuda property line, enabling Price Forbes Bermuda to automatically follow pre-approved lead insurers across Bermudian property placements, with premium ... Read the full article
Assured Guaranty expands into annuity reinsurance through Warwick Re acquisition
22nd January 2026
Assured Guaranty Ltd. (AGL), an insurance holding company, together with its subsidiaries operating under the Assured Guaranty name, announced that it has entered the annuity reinsurance market with the acquisition of Warwick Re Limited (Warwick Re), a Bermuda-domiciled life and annuity reinsurer, following the transaction, the company has rebranded the ... Read the full article
Aon introduces new Bermuda-based liability capacity for US construction projects
22nd January 2026
Aon plc, a global professional services firm, has launched the Bermuda Insurance Liability Top-Up (BILT), a newly created facility designed to expand excess casualty capacity for US construction projects. Exclusive to Aon, the facility offers up to $50 million in additional coverage above a minimum $100 million attachment point and features ... Read the full article
Beazley’s new Bermuda entity receives PCA from AM Best
14th January 2026
AM Best has assigned a Preliminary Credit Assessment (PCA) to Beazley Bermuda Insurance Limited (BBIL), the London-headquartered specialist insurer and reinsurer’s new Bermuda entity. BBIL received a Financial Strength Assessment of A pca (Excellent) and a Long-Term Issuer Credit Assessment of “a+” pca (Excellent), with a stable outlook on the PCA. Readers ... Read the full article
Bermuda tax credits could materially lower re/insurer tax bills: Jefferies
12th January 2026
According to analysts at Jefferies, Bermuda’s newly enacted tax credits regime could materially reduce the corporate tax burden for island-based re/insurers, with potential near-term accounting impacts and longer-term implications for earnings forecasts. For those unaware, the Bermuda Tax Credits Act, enacted on December 11, 2025, has introduced tax credits linked to ... Read the full article
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