Bermuda:Re
BermudaReinsurance . October 2005
Editorial
Bermuda Reinsurance is published quarterly
Welcome to the premier edition of Bermuda Reinsurance,
by Newton Media Limited.
Newton Lodge
15-17 Newton Way
a quarterly magazine written and researched for and by the
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NG33 5NR, United Kingdom
Bermuda reinsurance sector.
Editor: Roger Crombie, FCA
Email: editorial@newtonmedia.co.uk
Roger Crombie, FCA - Editor
Advertising: John Eddington
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Email: john@newtonmedia.co.uk
Advertising: Nicholas Lipinski
Telephone: +44 2083 133 967
Email: nlipinski@newtonmedia.co.uk
The surprise is not that Bermuda has its possible at the bona fides of those who would
Production and design:
own reinsurance magazine, but that for so operate the company, the quality and source
a’le-en creative
67 Mowat Avenue
long it has not. Since 1993, when a group of of its capital, and its detailed business plans.
Suite 033
substantial property catastrophe reinsurers Applicants who pass that rigorous testing—not
Toronto, Ontario
chose Bermuda as their domicile, Bermuda’s all do—are then monitored as they go about
M6K 3E3 Canada
Telephone: 416 533 7171
reinsurance market has gone from strength fulfilling their mission, and making real their
Fax: 416 535 7526 to strength. forecast profits.
E-mail: info@ale-en.com
www.ale-en.com
Capacity in the Bermuda market has As Bermuda’s influence increases, it has
increased since then by every feasible means: become the envy of others. Many diverse
Printed by Pensord, UK
new companies, the recapitalisation (and international organisations have audited
Some images were kindly supplied
sometimes recreation) of existing companies, the regulatory environment. With a little
by Bermuda Tourism and Photo supplied by the
new products and lines of business, a growing formalising here and some minor legislative
Bermuda Department of Communication

corps of overseas offices, and the acquisition updates there, Bermuda has passed all the tests
©Newton Media Limited 2005. of companies and renewal rights on specific with flying colours.
blocks of business.
All rights reserved.
Bermuda Reinsurance is born at a time of a
No part of this publication may be reproduced,
The appalling events of September 11, 2001 different kind of test for the Bermuda market.
stored in a retrieval system, or transmitted in any
caused the most significant insurance market Hurricanes Katrina and Rita will claim as much
form or by any means, electrical, mechanical,
photocopying, recording or otherwise without the
disruption in history, and Bermuda again as $12 billion from the Bermuda insurance
prior written permission of the publisher.
proved to be the solution. Some $15 billion and reinsurance markets. The way in which
The views expressed in Bermuda Reinsurance are
was invested in the Island following 9/11; the Bermuda reacts—by paying claims promptly,
not necessarily those shared by the publisher, rest of the world raised less than two-thirds of recapitalising, and adjusting premium rates
Newton Media Limited. Wishing to reflect the
that amount. and conditions to more accurately reflect the
true nature of Bermuda, the editor has included
articles from a number of sources within Bermuda, The most compelling reason, reinsurance
volatility the companies face—will reinforce
and the views expressed are those of the individual
executives confirm, is the regulatory
the global importance of the Bermuda market.
contributors. No responsibility or liability is
environment, which acknowledges that the Bermuda Reinsurance will chart the Island’s
accepted by Newton Media Limited for any loss
to any person, legal or physical, as a result of any
customers of reinsurance companies are progress post-Katrina and into the years ahead.
statement, fact or figure contained in Bermuda
insurance companies. The Bermuda Monetary Please let us know what you think and what
Reinsurance. The publication of advertisements
Authority sensibly recognises that the way you would like to see discussed in these pages.
does not represent endorsement by the publisher.

to vet an application to form a Bermuda
Bermuda Reinsurance - ISSN 1749-4508 reinsurance company is to look as closely as Contact us at: editorial@newtonmedia.co.uk
BermudaReinsurance . October 2005 3
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