Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Bermuda-based insurers and reinsurers all face similar challenges in 2011, but as executives of these firms discussed their results for 2010, they each mapped out unique approaches for moving ahead.

Even though last year’s underwriting profits for all 17 Bermuda firms regularly tracked by NU moved in a single direction—down from 2009, with the average combined ratio deteriorating 8.9 points—only four reported top-line premium declines. Each of the others had a different story to explain stable or slightly rising 2010 premium volumes—and strategies for growth in 2011.

Innovative, one-off, multiyear deals and longer-term new business initiatives highlighted earnings conference calls otherwise marked by discussions of continuing soft-market conditions and a nearly unprecedented number of non-U.S. catastrophe events. In total, the 17 groups incurred $3.5 billion in losses from the Chilean earthquake, Deepwater Horizon, a September earthquake in New Zealand and December flooding in Australia.

(A special NU analysis of catastrophe losses for the group and prior-year loss reserve takedowns, which softened the cat impacts, is available on our website. Search keywords: “Data Dive Bermuda.”)

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dig Deeper



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.