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 With analysis by Standard and Poor's |
Contents Tables and charts are available for the following sectors of Bermuda's insurance industry: Property Catastrophe Bermuda's Insurers |
How the survey was done.For this fourth Annual Bermudian Business/ Deloitte & Touche Insurance Survey, financial data was obtained from 43 Bermudian insurance and captive companies with fiscal years ending in 1997.Standard and Poor's primary role was to provide commentary on the survey results compiled by Deloitte & Touche. Given the growth of the Bermuda insurance market, perhaps it is not surprising that there were a number of changes in the participation in this year's survey. There were six new participants: Associated Electric and Gas Insurance Services, Chubb Atlantic Indemnity, Accord Re, European International Reinsurance, and Venton Insurance Ltd. Additionally six participants from last year's survey did not respond, one reinsurer was acquired, and three ACE subsidiaries (Tempest Reinsurance; ACE Insurance; and Corporate Officers and Directors Assurance) were consolidated. Acquisition fever and the current consolidation wave will only slightly reduce growth from new entrants for next year's survey of the Bermuda market. Increasingly, the easy categorisation of insurers as excess liability, finite, or catastrophe reinsurer will fall by the wayside as consolidations within Bermuda create multi-line operations. |