Originally published in International Reinsurance Review
2007-2008, November 2007.
Guernsey is a world-class finance centre with a long
established and well-resourced international insurance industry
that is ideally placed to become home to reinsurance
operations, particularly where they find Bermudas continued
success in this field is placing significant pressure on its
infrastructure and therefore, amongst other things, resulting
in escalating and possibly prohibitive operating costs.
Growth In Bermuda
Bermuda is a colossus in the international (re)insurance
industry, indeed, it has been referred to as "the worlds
risk capital."1 It remains the number one in
the world in terms of the number of captives, with 869
domiciled writing gross premiums in excess of US$19bn and a
major player in the global insurance/reinsurance market of
which there are 443 such companies writing gross premiums of
