Oliver Wyman, a management consulting unit of MMC, announced the opening of a Bermuda office today, concurrently releasing a report outlining challenges facing Bermuda insurers and the qualities of leaders needed to handle the challenges.
"No matter which routes they choose, the challenges facing Bermudian insurance companies are diverse and complex," Wyman experts said in the report, titled "The Road Ahead."
Challenges, the report said, are high local operating costs, a limited talent pool, a changing regulatory environment and emerging competition to traditional reinsurance products--catastrophe bond growth, in particular.
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