Although challenging market conditions await the class of Bermuda insurers born in the wake of the 9/11 terrorist attacks, Fitch believes most members of the Bermuda Class of 2001 are well positioned to withstand a competitive environment. All but one of seven original 2001 Bermuda Babies continues to operate–and several have thrived during the favorable market conditions that existed during their early years.
On average, the performance of the Class of 2001 since inception has been comparable to that of more established Bermuda competitors, while Arch Capital Group Ltd. and AXIS Capital stand apart as the strongest performers that are best positioned to endure over the longer term.
The Bermuda Babies in the Class of 2001 originally consisted of five stand-alone companies: Arch, AXIS, Allied World Assurance Company Ltd., Endurance Specialty Holdings Ltd. and Montpelier Re Holdings Ltd.
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