The growth of the life re/insurance sector in Bermuda has been fuelled by the robust yet pragmatic regulatory environment created by the Bermuda Monetary Authority. Here, a spokesperson outlines its approach and future plans.
COVID-19 and cat events in 2020 led to a divergence in the way reinsurers approached the 1/1 renewals, as Peter Gadeke, executive vice president at Willis Re Bermuda, explained to Bermuda:Re+ILS.
COVID-19 has presented a monumental challenge to countries and businesses everywhere. Bermuda:Re+ILS spoke to the heads of five institutions representing Bermuda’s re/insurance community to find out how the industry has coped.
There is an unwavering desire for alpha, for uncorrelated returns and for new ways of deploying capital. As markets and perspectives evolve, there are different ways to think about how capital can be used, says Ocorian’s Alison Dyer.
While re/insurers of all types face challenges in the aftermath of COVID-19, there are certain strategic priorities that will apply to all, according to PwC’s latest report, as Arthur Wightman of PwC explains.
Digital innovation has become the norm in many industries around the world, but the COVID-19 pandemic has expedited the urgency to move to digital and, out of necessity, has pushed many companies into it much faster than expected, says Chris Maiato of EY.
Ed Bermuda received regulatory approval to begin operating in Bermuda in June 2019. As the team builds, Bermuda:Re+ILS finds out a little more about the executives who want to make Ed Bermuda the best broker on the Island.
The re/insurance sector remains ripe for further consolidation, driven by a search for economies of scale at one end of the spectrum and the desire to innovate and embrace technology at the other, James Ferris of PwC tells Bermuda:Re+ILS.
The COVID-19 pandemic represents an unprecedented challenge for Bermuda and its re/insurance community. But as the virus struck the Island, re/insurers were quick to adapt and were able to keep business operating largely as usual, Bermuda:Re+ILS finds.
Bermuda:Re+ILS’s 2020 market sentiment survey has revealed some interesting observations about the state of Bermuda’s M&A market in 2019 and ahead into 2020.