...Bermuda Market Strength Persists: The Bermuda market remains strong as the island continues to adapt to the shifting (re)insurance market landscape. While Bermuda is not immune to the underwriting and investment challenges of the current environment, a strong, yet efficient, regulatory framework and continued favorable tax status will enable the island to effectively compete with the other major (re)insurance jurisdictions around the world. Financial Results Weaken: Large publicly traded (re)insurers with operations in Bermuda will report weakening, although overall favorable, full-year 2015 operating results. The 2015 combined ratio for the group of 13 publicly traded (re)insurers that Fitch Ratings actively follows will remain near the 88.3% posted through the first nine months of 2015. This increased from 86.3% in the comparable 2014 period as reduced natural catastrophe losses were offset by higher large, non-natural catastrophe losses and a deteriorating underwriting environment. Escalating...
