New market study, "Bermuda Insurance Report Q4 2015", has been published

Bermuda's easy business environment has allowed the establishment of a major global centre for reinsurance, providing offshore services to insurers from North America and beyond. A recent wave of consolidation has yet to finish, although the greatest moves may be behind us.

Bermuda is firmly established within the framework of the global insurance market, providing reinsurance services to companies in North America primarily, but also on a global scale. Long-term reinsurance saw significant growth in 2013, but remains far smaller than the non-life sector. Non-life cover prominently features catastrophe reinsurance, providing cover for insurers exposed to the risks posed by hurricanes, floods, fires and other natural disasters. In recent years, in part because of falling catastrophe premiums, Bermuda's reinsurers have diversified their product exposure to include a range of varied and highly-specialised products to suit all requirements.

In 2015, we expect total gross premiums to grow by just 1.4% to USD171bn, with many global markets still struggling behind weak economies and dollar strength driving up the local currency costs for insurers in many European and Latin American markets. Over 60% of premiums will be written in short-term lines of business, although this share will diminish over the next ten years as increased demand for life insurance across both developed and emerging markets continues to grow. Furthermore, a downward trend in catastrophe premiums shows no sign of reversal, given the development of a number of alternative measures. Key drivers will continue to include increased volumes, product innovation and increasing numbers of active insurers. On balance, we think that the life segment will continue to grow faster than the non-life segment.

Full Report Details at
- http://www.fastmr.com/prod/1032014_bermuda_insurance_report_q4.aspx?afid=301

The Bermuda Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Bermuda Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Bermudan insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Bermuda to test other views - a key input for successful budgeting and strategic business planning in Bermuda's insurance market.
* Target business opportunities and risks in Bermuda

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