At least eleven new insurers have incorporated in Bermuda over the last two months, bringing with them capital that is likely to top $10 billion once financing has been completed. If Jan. 1 policy rates are as high as many expect them to be, these firms will have not so much a license to offer insurance as one to print money. All have set themselves capital-raising targets from $500 million to $1.5 billion, with $1 billion being the most popular target figure.
11 new insurers & $10 b of capital hurtle towards Jan. 1 renewal bonanza
18 years ago
KeywordsAmlin Bermuda Aquiline Ariel Re Arrow Capital Reinsurance Arrow Reinsurance
Bermuda Insurance Market Blue Ocean Reinsurance Capital Z Financial Services Partners Citadel Investment Group Cyrus Reinsurance David Brown Don Kramer Flagstone Reinsurance Goldman Sachs Harbor Point Re Highfields Capital Management Hiscox Jeffrey Greenberg John Charman Kymn Astwood Lancashire Insurance New Castle Reinsurance Richard Brindle Stirling Cooke Validus Reinsurance Venturion Capital West End Capital XL Capital[ 23 more... ] [ top 5 ]