Bermuda Players See Big Potential Upside Of Massive Cat Losses

RMS model change increases U.S.-wind PML indication by $60B—beyond capacity of reinsurance market, exec says

Red ink spilled over the bottom lines of midyear Bermuda-market financial reports, but executives are signaling a top-line upside from catastrophe losses that they see altering the mindsets of some key customers—namely, cat-reinsurance buyers.

In addition, despite the fact that only two of the 10 publicly traded Bermuda insurers and reinsurers that released earnings by the end of July reported positive numbers on their net-income lines, the capital levels of the cat-protection sellers remain strong, market participants and analysts say—highlighting the market’s ability to take it on the chin (see charts).

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