1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends

The Insurance Industry in Bermuda, Key Trends and Opportunities to 2019

  • July 2016
  • 144 pages
  • Timetric
Report ID: 1181027

Summary

Table of Contents

Search Inside

Synopsis
Timetric’s 'The Insurance Industry in Bermuda, Key Trends and Opportunities to 2019' report provides detailed analysis of the Bermudian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Bermudian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Bermuda, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Bermudian insurance industry, including:

- An overview of Bermudian insurance industry

- The Bermudian insurance industry's growth prospects by segment and category

- A comprehensive overview of the Bermudian economy and demographics

- The detailed competitive landscape in the Bermudian insurance industry

- The various distribution channels in the Bermudian insurance industry

- Detailed regulatory policies of the Bermudian insurance industry

- Analysis of natural hazards in Bermuda

Scope
This report provides a comprehensive analysis of the insurance industry in Bermuda:

- It provides historical values for the Bermudian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Bermudian insurance industry, with market forecasts to 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It analyzes the various distribution channels in Bermuda.

- It profiles the top insurance companies in Bermuda and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bermudian insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Bermudian insurance industry.

- Assess the competitive dynamics in the Bermudian insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Bermudian insurance industry and their impact on companies and the industry's future.

Key Highlights
- On March 24, 2016, Bermuda was retroactively designated as Solvency II-equivalent by the European Commission in the fields of reinsurance and group supervision.

- The principal benefit of Solvency II equivalence is that Bermuda’s commercial insurers, reinsurers and insurance groups will not be disadvantaged when competing for and underwriting business in Europe. Additionally, being an early adopter of Solvency II has brought certainty to the future status of commercial reinsurers operating from Bermuda.

- Captive insurance and reinsurance business has played an important role in the development of Bermuda’s insurance industry. According to Marsh, a Global Leader in Insurance Broking and Risk Management, there were around 7,000 captive insurance and reinsurance companies worldwide in 2015, with the US solely accounting for 3,000.

- Insurers are adopting rapidly emerging alternative risk-transfer instruments such as insurance-linked securities (ILS) and collateralized reinsurance, which is challenging to traditional reinsurance.

- The government is planning to increase payroll tax from 5% to 6% during 2016–2017; this will negatively impact low-income workers.

- Healthcare captives have always been a big business in Bermuda, and currently account for 10% of the captive business in the country.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Property Insurance in Emerging Asia

  • $ 3800
  • Industry report
  • May 2017
  • by Timetric

Synopsis Timetric’s 'Insight Report: Property Insurance in Emerging Asia' analyzes the rapidly growing economies in Emerging Asia, and identifies opportunities in the midst of economic growth and low ...

UK Personal Injury Litigation 2017

  • $ 3495
  • Industry report
  • July 2017
  • by GlobalData

UK Personal Injury Litigation 2017 Summary Personal injury sector continues its turbulent course of market-changing reform, with legislative, legal, and regulatory forces at work. While the market was ...

Non-Life Insurance in the Netherlands, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • April 2017
  • by Timetric

Synopsis Timetric’s 'Non-Life Insurance in the Netherlands, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Dutch non-life insurance segment, and ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.