Solvency II equivalence drives growth in Bermuda
Wednesday, 07 13 2016, Category: Insurance and Reinsurance, Country: World
Bermuda’s insurance industry will continue to grow exponentially over the five year period from 2014 to 2019, partly driven by Solvency II equivalence, according to Timetric’s Insurance Intelligent Center (IIC), a market intelligence company.
The IIC has predicted that the size of the Bermuda insurance industry will steadily rise to reach $167.1 billion by 2019, up from $102.3 billion in 2014, at a compound annual growth rate of 10.3 percent, on the back of a growth in external business including offshore and captives.
Source: Bermuda Reinsurance Magazine