Bermuda: punching above its weight

Bermuda has long been a major re/insurance hub. Is it punching above its weight, or is its position in the world a logical outcome given its location, talent and regulatory regime? And what does it need to do to retain this position? Bermuda:Re+ILS reports.

Bermuda has grown to be one of the world’s major financial hubs, a place of real influence.

For a small rock in the middle of the North Atlantic, it punches well above its weight in terms of its economy and the quality of the people working there. It has come as far as it has in terms of being a global hub and centre of excellence for risk transfer because of the leadership of certain individuals along the way.

As the world of re/insurance evolves and moves on, Bermuda needs to retain its position in the market. The likes of Dublin, Zurich, Singapore and Dubai have all upped their game and refined their offering in recent years, making a case for international companies and reinsurers specifically to base themselves there.