ARTICLE · 28 APRIL 2003

The A.R.T. of Reinsurance in Bermuda: Recent Legal Developments

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Jan Woloniecki

Bermuda is now the home of nearly 1,500 insurance and reinsurance companies with a combined capital base of some $42.5 billion. It is the world’s leading domicile for captive insurers and a significant provider of catastrophe reinsurance capacity. Bermuda is also a leading jurisdiction for financial reinsurance and alternative risk transfer. The Bermudian legal system combines the conservative traditions of the English common law (which took root upon Bermudian soil in 1612) and forward thinking legislation designed to meet the needs of international business (see: ‘Bermuda is the ideal venue for companies to hold arbitrations’, in ‘International Arbitration: A Guide for Foreign Corporations’ – Supplement to the April 1998 issue of "International Commercial Litigation").

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