Bermuda: Reinsurance

Senior executives from Bermuda's reinsurance market gathered in Monte Carlo to discuss the industry's current state and future challenges. While the market remains profitable with strong capital positions, participants debated whether underwriting discipline can be maintained amid softening rates and the pressure to deploy excess capital. The roundtable also explored emerging opportunities in complex risks like data centres, casualty ILS, and cyber insurance.

Bermuda's managing general agent market is evolving rapidly as capacity providers demand better governance, aligned incentives, and transparent oversight. With regulatory scrutiny intensifying and new capital structures emerging, the island's sophisticated infrastructure positions it uniquely to accommodate the next generation of MGA platforms that combine specialist underwriting expertise with dedicated capital vehicles.

Bermuda has emerged as the dominant global hub for life and annuity reinsurance, now holding over $900 billion in US life and annuity liabilities and accounting for 84% of all US reserves ceded offshore. This analysis examines how the island's sophisticated regulatory framework, purpose-built infrastructure, and commercially engaged regulator have created a structural advantage that extends beyond its traditional catastrophe reinsurance roots into long-dated life business from the US, UK, and Asia.

He has watched the island's growth from the front row since 1996 and is resolute that Bermuda continues to dominate reinsurance with its innovation and sound infrastructure.

With the catastrophe bond market seeing eleven new sponsors enter the space so far this year, the trend highlights how involvement in the market has become...

A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto!

Appleby Counsel Cathryn Minors knew she wanted to be a lawyer from the age of 13 and that self-belief has seen her work in Bermuda, the UK and Hong Kong...

The change to the technical provisions that govern long-term insurers and reinsurers was first raised in a consultation paper issued by the BMA last July.

One way that the Bermuda Monetary Authority (BMA), as the island's financial regulator, addresses these uncertainties is by requiring insurers and reinsurers...