A new note from S&P says that Bermuda has become a global financial hub for property/casualty re/insurance, with a growing presence in life re/insurance.
This, said the firm, had happened due to the amount of related premiums written by Bermudian re/insurers. According to S&P Global Ratings, Bermuda’s share of the global reinsurance market based on net reinsurance premiums written fluctuated between 7% and 9% in the past five years. In addition, it remains an attractive domicile for sidecars, alternative capital structures, collateralized reinsurance, insurance-linked securities, and structured solutions for legacy business.
