Bermuda performance muddied by cats
With the majority of half-year financials now reported by what are generally viewed (current domicile notwithstanding) as Bermudian (re)insurers, a messy picture has emerged.
Reported net losses or profits are a complicated construction of Q1 loss creep, Q2 catastrophes, prior-year reserve releases and shifting top lines and cessions, as carriers rebalanced their books and retro protection while the hurricane season approached.
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It is clear that for most of the 12 companies
The Insurance Insider has compiled data...
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