PwC Bermuda’s 19th Annual Insurance Summit
Global re/insurance leaders gathered at the PwC Insurance Summit to examine how AI, cyber threats, extreme weather and shifting capital markets are reshaping risk – and how the Bermuda market can turn that uncertainty into resilience and opportunity.
A spokesperson said, “PwC Bermuda’s 19th annual sold-out re/insurance forum brought together over 400 attendees at the Hamilton Princess Hotel on 10 November 2026.
“The summit heard how an era of unprecedented volatility presents both a significant challenge and an extraordinary opportunity for the industry, which must anticipate emerging risks, bring greater clarity to uncertainty and develop innovative solutions for clients.
“Chief executives discussed how AI is fundamentally changing how the industry models risk, makes decisions and serves clients, and that success will depend on embracing it while retaining human judgement, staying agile and forward-looking. CEOs also discussed the scale of AI and data-centre risk, with a PwC report projecting US$31.6 trillion in capital expenditure through 2050 to build the compute capacity needed for AI, and how AI’s widespread use creates systemic risk that could affect a re/insurer’s entire portfolio.”
“The standout feature of today was the intellectual horsepower that exists in the Bermuda market. As risk becomes more interconnected and borderline insurmountable, it’s incredible to see the responsible innovation that is taking place. Solutions are being developed to connect an abundance of capital with risk and help the world move forward. It’s an exciting time to be in Bermuda,” said Arthur Wightman, Territory and Insurance Leader, PwC Bermuda.
A spokesperson added, “A session with Jim Bichard, CFO, Lloyd’s, Choisel Murray, Global Chief Commercial Officer, Aon Captive & Insurance Management; and Neil Eckert, CEO, Conduit Re heard how the P&C industry is operating in a higher interest-rate environment than anticipated four to five years ago, creating conditions that could attract more third-party capital.”
Matt Britten, Partner, PwC Bermuda, said: “What stood out for me was the level of positivity around how well positioned the industry is, from both a capital and innovation perspective, to address the significant changes happening in the risk environment. And that these changes, whether from climate or cyber or AI or the geopolitical landscape, are a fantastic opportunity for growth and to demonstrate the industry’s resilience.”
A spokesperson added, “Stephen Catlin, Founder and Life President of Convex Group Limited; Dan Glaser, Operating Partner at Clayton, Dubilier & Rice and former CEO of Marsh & McLennan; and Fiona Luck, Deputy Chair and Senior Independent Director for the Council of Lloyd’s of London, drawing on decades of experience, discussed the strategic decisions that will define the next era of re/insurance, from capital allocation and market transformation to talent, technology and the changing nature of risk itself. Speakers also included Jim Bichard, CFO, Lloyd’s. Nancy Bewlay, EVP and Global CUO, AIG, Jerome Halgan, CEO, Arch Global Reinsurance Group and Joe Peiser, CEO, Risk Capital, Aon.
“AI’s impact on underwriting, risk selection, and client engagement was also a prominent theme, with Dr. Oliver Wing, Chief Scientific and Product Officer at Fathom, a Swiss Re-owned company, exploring how AI is reshaping disaster modelling and how a narrow view risk may be creating systemic risk across the industry.
“Dr. Alok Aggarwal, Founder, CEO and Chief Data Scientist of Scry AI, and board member of Portage AI, shared insights into AI’s evolving role in re/insurance, and how AI is moving [re]insurance from paying for losses to predicting and preventing them.
“Other topics on the agenda included: Evolving talent and workforce dynamics, creating a balance sheet opportunity out of legacy business; capital partners and the convergence opportunity and growth frontiers in life re/insurance, including asset-intensive reinsurance [AIR].”
