Should 2006 prove even more expensive in terms of insured losses than this year, Bermuda insurers may not get another opportunity at recapitalization, said one leading industry analyst.
Bear Stearns London-based property casualty analyst William Allen said that a costly 2006 season could prove a boon to large reinsurers.
"We believe some Bermudan reinsurers have been given one last chance for survival," Mr. Allen wrote. "If capital bases are depleted again, we do not believe the capital market will be so ready to recapitalize them."
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