2010 Reserve Takedowns Cushion $3.5B Cat-Loss Hit To Bermuda Reinsurers
Susanne Sclafane
While roughly 11.0 points of catastrophe losses hit the combined ratios of Bermuda insurers and reinsurers in 2010, they still managed to report nearly 9.0 points of underwriting profit. Favorable loss reserve development from prior years helped soften the blow according to an NU data analysis.