Despite a prolonged soft market and the global economic recession, Bermuda insurers recorded an increase in aggregate total assets to $496 billion in 2010 (2009: $472.9 billion).
Total gross premiums written remained strong, at $119.7 billion, compared to a 2009 total of $123.5 billion.
The captive sector wrote $32.6 billion in gross premiums, having achieved a year-on-year increase of 66%, attributable primarily to significantly higher premiums being written by particular entities, and the Authority’s reclassification of a number of companies to more accurately reflect their risk-profiles.
At the end of 2010, Bermuda had a total of 845 captives, down from 885 in 2009, under the new system.
New company registrations by (re)insurers totalled 35 with market entrants including captive and commercial insurers covering various lines of business, including property and catastrophe and professional liability. articel from... For the latest updates PRESS CTR + D or visit Stock Market news Today
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