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New Bermudians Fill Market Holes; Two Newbies Top $1 B International Editor

Although there were early fears that the new Bermudians would help usher in an early softening to the global insurance and reinsurance marketplace, all observers and market practitioners agree that the new Bermudians are acting responsibly and filling a vital hole in industry capacity.

Before the recent reserving announcements from ACE, American International Group and Travelers, Swiss Re last year estimated that there was a $200 billion shortfall in reserves for the global industry as a whole.

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