A.M. Best To Hold Bermuda Webinar
The authors of a new ratings agency study on the Bermuda reinsurance and insurance markets will present a one-hour webinar exploring the state of North America’s highest-profile offshore insurance centre. The webinar is set for noon, Bermuda time, on January 11, 2011.
The recently released A.M. Best report, “Favourable Results Conceal Looming Concerns for Bermuda’s (Re)Insurers”, examines developments in the Bermuda market, one that has managed to attract significant risk-finance activity in the past two decades.
It finds that overall premiums have remained relatively flat in recent years, while shareholder’s equity has risen. The report also notes that the insurers have experienced relatively few extreme catastrophic losses in recent years, a situation that is contributing to further weakening of insurance rates and competition in the reinsurance markets.
Topics to be covered in the webinar include the state of the island’s insurers and reinsurers, including capitalisation and financial strength; how premium trends are affecting growth and profitability; the outlook for mergers and acquisitions; the outlook for startup insurers, reinsurers and specialized insurance vehicles; how Bermuda may fare against other global insurance hubs and domiciles, including London, Zurich and elsewhere; what the performance of Bermuda-domiciled insurers and reinsurers means for the US and global property/casualty industry; and possible impacts of proposed US legislation addressing reinsurance taxation.
Panelists who helped author the report include Robert DeRose, A.M. Best vice-president and senior financial analysts Greg Reisner and Gail Guerra. The panel will also be joined by Alan Kandel, Best’s business development manager.
Attendees can submit questions or comments for the discussion by emailing news@ambest.com. Questions and comments will be discussed before and during the live event. Coverage of the webinar will be featured in an upcoming issue of “Best’s Review”. For more information about the webinar, please call (908) 439-2200, ext. 5561, or email lee.mcdonald@ambest.com.
