Magazine date:
Dec 2009 Moody’s revealed that despite the profit reported by Bermudan insurers and reinsurers in 2009, the latter are called upon to face the challenges imposed by the fallout of the financial crisis: a soft market especially for accident business, the volatility of the financial markets which deprives Bermudans from financial flexibility, and the future emergence of professional third party liability claims.
In addition, the Neal bill which restricts tax reductions from reinsurance cessions outside the United States, is going to make the situation even more complicated.