Bermudian reinsurer ROE’s down nearly a third
Wednesday, 05 25 2016, Category: Insurance and Reinsurance, Country: World
Bermuda domiciled reinsurance companies saw average annualised return on equity (ROE) drop almost a third in the first-quarter of 2016 to 8.7%, underlining continued market headwinds despite an increase in gross written premiums (GWP), according to S&P.
Global insurance and reinsurance ratings agency Standard and Poor’s (S&P) report on the operations of Bermudian re/insurers during Q1 2016, reveals that despite an increase in consolidated GWP of 21%, market pressures remained in the quarter and will likely continue to test firms throughout 2016.
S&P notes that the growth in GWP to $16.12 billion, compared with $13.38 billion in the first three months of 2015, was driven by a small selection of companies.