Staying True To Form

Bermuda has always been at the forefront of innovation in the insurance industry, Stephanie Sanderson of Beesmont explains how the Island is continuing that tradition with its latest developments in insurtech

Bermuda's insurance history is an extremely rich one. The captive insurance sector, which was once thought radical, was developed in Bermuda in the 1960s and 1970s and established Bermuda's bourgeoning international insurance industry. The 1980s saw Bermuda develop excess liability insurance and the 1990s saw increasing catastrophe reinsurance being established. More recently we have seen the insurance-linked securities (ILS) sector develop and prosper in the jurisdiction, making Bermuda a global leader in the market. Today, Bermuda has both the largest ILS and captive sectors in the world and has one of the world's largest reinsurance sectors.