by AIP Online Bureau | May 1, 2024 | Eco/Invest/Demography, International News, Life, Non-Life, Regulation, Reinsurance
The Bermuda life insurance market has grown rapidly. Assets increased to $1.1 billion as of YE2022 from $496 million in 2018, and the number of life insurance licenses increased 10% over the same period to 180. This growth has been driven by its economic-based regime,...
by AIP Online Bureau | Jan 23, 2024 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
“We expect market conditions to remain favorable at the 2024 midyear renewals, although with stabilizing rates as pricing is generally sufficient. (Re)insurers are also expected to mostly maintain the tighter terms and conditions negotiated in 2023,” said...
by AIP Online Bureau | Dec 18, 2023 | Briefs, Non-Life, Reinsurance
Miller, a specialist (re)insurance broker, has appointed Chris Board to its reinsurance team. He will initially be based in Bermuda and report to Charlie Simpson, Head of Bermuda. Chris’ appointment is part of Miller’s strategic reinsurance build out and follows a...
by AIP Online Bureau | Aug 9, 2023 | Eco/Invest/Demography, Non-Life, Policy, Regulation, Reinsurance
The Bermudan government said in a statement the proposal would end the island nation’s long-standing 0% corporate income tax and would apply to Bermudan units of multinational corporations with 750 million euros ($820 million) or more in annual revenue. The proposal,...
by AIP Online Bureau | Jan 24, 2023 | International News, Non-Life, Reinsurance
Market pricing surged at the January 2023 reinsurance renewal, shifting to a true hard market in property and some specialty lines with supply constrained and demand growing. Importantly, terms and conditions saw structural changes that benefited (re)insurers....
