Bermuda is a renowned insurance and reinsurance domicile and has
enjoyed a long and distinguished history in the area of long-term
insurance and reinsurance. While its prime focus has been on
general insurance business, in recent years the long-term
re/insurance market in Bermuda has grown substantially.
In 2018, the life sector grew exponentially as the number of new
company formations more than doubled from the previous year with 15
new life licences issued by the Bermuda Monetary Authority compared
to just six in 2017.
With an aging global population, the demand for life products,
including pensions and retirement products, is high. Direct writers
are seemingly running out of exposure capacity and look to
reinsurance to spread the risk.
