Workshop C8: The Bermudan life market – the key to unlocking UK potential?
The life reinsurance market in Bermuda has grown significantly in recent years. According to an industry report published last year, Bermuda saw an 8% increase in the total market share of global L&A ceded reserves in 2021. This growth continues to be observed in 2022 with numerous large annuity transactions being announced between US entities and Bermuda reinsurers. With its regulatory framework attaining Solvency II equivalency and NAIC reciprocity, Bermuda is expected to continue seeing further growth in the near future within the capital intensive life insurance space. In this session, experts from Deloitte Bermuda will provide a first-hand perspective of the life insurance market in Bermuda, covering topics such as: the wave of new entrants into the Bermudan market: upcoming changes in Bermudan regulations; other key priorities of the BMA; industry outlook on the future prospects of Bermuda; common reinsurance structures that are used within Bermuda; We will the look at the impact of all of this on both the local and international market, particularly on its impact on UK life insurers.
