The Bermuda reinsurance market emerged “relatively unscathed" from the unprecedented hurricane and typhoon landfalls in 2004, according to the Benfield Bermuda quarterly report.
The report surveyed 18 Bermuda reinsurers and put total losses at $3.5bn. It said the average return on equity for Bermuda reinsurers was 13.3% in 2004, down from 19.1% the year before. The impact of the storms, it claimed, was softened by a high degree of retention and disproportionate losses in the primary insurance market.
Net income for Bermuda reinsurers was down 3% to $5.7bn. The average combined ratio was 96.4%, up from 90.7% in 2003 and balance sheets increased by 14% to $45bn.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
