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  4. > Bermuda Insurance Report Q4 2016

Bermuda Insurance Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 38 pages

Includes 3 FREE quarterly updates

BMI View: Bermuda has established itself as one of the world's leading offshore insurance markets overthe past few years and the island has developed particular expertise in reinsurance and catastropheinsurance underwriting. A slowdown in both these markets globally over recent quarters has restricted themarket's expansion, and there has been a wave of consolidation among locally domiciled firms as groupshave sought to reduce operating costs. However, we believe that premiums will begin growing at a fasterpace through the forecast period to 2020 as an improved regulatory environment and a surge in naturaldisaster and weather-related events drive business towards Bermuda-based firms.

Key Updates And Forecasts

- We have adjusted our forecasts for Bermuda's life insurance sector this quarter, and we now expectpremiums to grow by 2.9% in 2016 to USD63.8bn. Growth will average 4.7% a year annually throughthe forecast period to 2020 to reach USD77.8bn.

- The non-life market will see a marginally slower rate of growth, though we have also revised ourprojections for the sector upwards as insurers and reinsurers begin to pass on the cost of highercatastrophe-related losses to their customers. We forecast non-life premiums to increase by 1.6% in 2016to USD105.4bn. Premiums are projected to reach USD115.6bn by 2020, translating to average growth of2.2% a year over the 2016-2020 period.

Table Of Contents

Bermuda Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Bermuda 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Bermuda 2013-2020) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Bermuda 2013-2020) 14
Insurance Risk/Reward Index 16
Latin America Insurance Risk/Reward Index 16
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q416 17
Market Overview 18
Product Offering 18
Competitive Landscape 18
Table: Bermuda Market Share, USDmn (2008-2014) 21
Company Profile 23
ACE Group 23
PartnerRe 26
XL Group 29
Methodology 32
Industry Forecast Methodology 32
Risk/Reward Index Methodology 35
Table: Indicators 37
Table: Weighting of Indicators 38

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