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Triple-I Blog | Bermuda and insurance: small country, powerful contribution



By John Novaria, CEO, Amplify

Bermuda is more than pink beaches and golden sunsets – it's a major force in the reinsurance industry. The Association of Bermuda Insurers & Reinsurers (ABIR) works to raise the profile of Bermuda's reinsurance companies and insurance companies and represents their public political interests around the world.

ABIR CEO John Huff recently met with Triple-I CEO Sean Kevelighan to discuss contributions from Bermuda companies to global resilience. Some of these contributions include:

  • Bermuda insurance companies and reinsurance companies paid $ 2.7 billion in receivables from last winter's storms in Texas.
  • Some Bermuda companies are preparing to increase and help finance new US infrastructure projects through their investment portfolios. [1
    9659005] According to the Bermuda Monetary Authority, the island nation is home to 1,200 (re) insurance companies that hold more than $ 980 billion and have a gross premium of approximately $ 240 billion. play to secure a more resilient future for society.

    "If you talk to your children, it may be the first time our work resonates with the next generation," he says. "I believe it is our opportunity to lead in climate, resilience and adaptation."

    In discussing the Bermuda value proposition, Huff noted the concentration of exceptional talent within a square mile of Hamilton's business district, which has caught the attention of investors who have plowed capital into the jurisdiction to form start-ups. Huff also said that many established companies in Bermuda are being scaled up by expanding their opportunities to take more risk through analytics, underwriting and capital allocation.

    Bermuda is really full of surprises. Huff said the public does not realize that Bermuda companies take out half of the mortgage insurance sold in the United States, creating opportunities for more young families to buy their first home.

    Read more about ABIR.

Association of Bermuda Insurers and ReinsurersBermuda

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