BMA survey illustrates how Bermuda re/insurers support the EU
A total of $29.3bn was paid out to EU policyholders from 2016 to 2020 by Bermuda re/insurers, according to new data collected by the Bermuda Monetary Authority.
These payouts included property and casualty losses, as well as life insurance claims.
By contrast, Bermuda re/insurers paid out only $6.6bn more over the preceding two decades.
From 1997 to 2016, Bermuda re/insurers paid out $35.9bn in claims to EU policyholders according to BMA data.
The most recent survey was carried out in June 2021.
13 March 2024 Company of the Month Artex's Francesca Thomas explains what insurers need to do to be compliant with the Bermuda Monetary Authority's Code of Conduct.