As the Bermuda market absorbs the impact of the first round of quarterly results, an exclusive survey of Bermuda:Re+ILS readers has revealed that the latest round of renewals left the market somewhat flat.
Bermuda’s re/insurers have led from the front when it comes to understanding and underwriting cyberre/insurance. Three of the Island’s biggest players in the sector discuss with Bermuda:Re+ILS the opportunities—and pitfalls—of operating in this space.
Cyber represents a growth business for Hiscox Re & ILS and it is forming partnerships and investing to ensure it stays ahead of the game in this rewarding but challenging area of risk, says Damien Smith, head of specialty, Hiscox Re & ILS.
The majority of economic losses from cyber breaches are not covered by currently available insurance products—this creates a challenge for insurers to create new products, says Jim Riley, vice president, specialty underwriter at RenaissanceRe.
Bermuda entities are not immune to cyber attacks and could even be an easier target than organisations in other jurisdictions. Each organisation should develop a cyber-defensible position that will ensure it is pursuing a secure, vigilant and resilient cyber risk strategy, say Brett Henshilwood and Kevvie Fowler of Deloitte.
With cyber threats in the news almost every day, re/insurers on Bermuda need to keep as up to date as possible. As George Thomas from PwC explains to Bermuda:Re+ILS, there is some encouraging news out there.
PartnerRe is enjoying strong growth in the cyber space—and while it has a broad appetite for cyber risk it considers each transaction on its merits, says Catherine Rudow, senior vice president–professional lines at PartnerRe.
After something of a pause, the start of 2018 has brought several big M&A deals with the potential to transform the Bermuda market. In this special report, we assess the driving forces underpinning existing and future deals and ask a number of the Island’s best known dealmakers for their views on what more we can expect.
Economies of scale might be a driving force behind many M&A deals but that dynamic could change, say James Ferris, Leslie Fenton and Ritendra Roy from PwC.
As M&A activity on Bermuda continues to heat up, Joseph Milicia, P&C M&A Practice Leader for the Americas, Willis Towers Watson, suggests the keys to a smooth transaction are the right internal team, a sound strategy, the right team of external M&A professionals—and the motivation to do a deal.