18 August 2021
HAMILTON, BERMUDA – Bermuda (re)insurers paid out US$29.3 billion to European Union (EU) policyholders and cedants for property and casualty losses and life insurance claims during the five-year period from 2016 to 2020. This is according to commercial market claims data collected by the Bermuda Monetary Authority (BMA) in June 2021. By contrast, the BMA’s 2017 survey1 showed that during the twenty-year period from 1997 to 2016, Bermuda (re)insurers paid out US$35.9 billion to EU policyholders and cedants2. These two surveys, when taken together, reveal that Bermuda (re)insurers have paid out over US$60 billion to EU policyholders and cedants since 1997.
