Bermuda reinsurers should record another year of strong results in 2008 and produce mid- to high-teens return on equity despite lower premium volume, according to an investment bank analysis.
Bank of America's equity research division said it is reiterating a positive view of the reinsurance sector after meeting the management teams of most of the companies it studies. “Most are confident they can write a reasonable volume of both property and casualty business in 2008 that will generate targeted returns,” the bank said.
The analysis said that premium rates on U.S. catastrophe reinsurance are expected to decline by 10 percent or less after rising significantly last year.
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