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Press Release - United States Remains Bermuda’s Biggest (Re)insurance Partner

August 23, 2021

HAMILTON, BERMUDA – Bermuda (re)insurers paid out US$209.6 billion to United States (US) policyholders and cedants for large catastrophes, 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 (Authority or 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$208.7 billion to US policyholders and cedants. These two surveys, when taken together, reveal that Bermuda (re)insurers have paid out over US$400 billion to US policyholders and cedants since 1997.

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