The home of risk transfer expertise

There has been a flight to quality among global investors who are keen to back Bermuda risk transfer experts, says John Huff, chief executive officer of the Association of Bermuda Insurers and Reinsurers.

“Bermuda has led the reinsurance industry in developing a scientific approach to catastrophe underwriting.”
John Huff, ABIR

Over the past several months, the global re/insurance sector has seen a renewed capital infusion not seen since 2005/2006. Bermuda talent—in the form of new startup firms and legacy powerhouses—has caught the eye of global investors.

The firming, some say hardening, reinsurance market will be key to addressing the unfolding world of uncertainties brought on by the existential threats of the day including future pandemic, increased frequency and severity of natural disasters, growing cyber risk from the technological necessities of the pandemic, and signs of social inflation as societies struggle with the issues of equity and economic disparities.

Bermuda’s expertise in modelling natural catastrophe exposures make it the logical choice for climate risk finance and risk transfer. The Bermuda market knows there is much more than historical data required to manage climate risk and is acutely aware of the threat climate change poses to the planet and people. The growing protection gap—the difference between economic and insured loss—is a key metric in the market’s relevance needed to protect global economies.

Bermuda has led the reinsurance industry in developing a scientific approach to catastrophe underwriting, innovating to better serve customers and establishing highly regarded enterprise risk management programmes.

This attention to detail helps the major reinsurers retain their important credit rating, better meet shareholder expectations and demonstrate resilience to global customers.

Bermuda has shown once again that it is the place to deploy capital against risk in a manner that is effective and efficient, with speed-to-market motivation and innovation while meeting the future needs for next-generation risk transfer products.

Operating in more than 150 countries, Bermuda’s leading insurers and reinsurers understand the value-proposition of seizing opportunities to serve clients while ensuring sustainable, responsible growth and relevance.

Ensuring insurance products remain affordable and accessible for consumers in emerging and developed markets solidifies Bermuda’s position as the World’s Risk Capital.

It is my pleasure to introduce this Special Report to highlight Bermuda’s position as the continued jurisdiction of choice. Bermuda’s world-class talent, globally recognised consolidated regulation by the Bermuda Monetary Authority, best-in-class reciprocal recognition by EU and US markets and unrivalled capacity are foundational to Bermuda’s success.

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In association with:

A Bermuda:Re+ILS Special Report