Bermuda Q2 profits up but RoE drags
A mostly benign period for catastrophes ensured that Bermudian (re)insurers improved their profitability for the second quarter year-on-year.
But despite an improvement in results, declining investment income and reserve releases continue to drag on returns.
The group's average calendar year combined ratio improved to 81 percent from 99 percent in the second quarter of 2011, when record losses from the US tornadoes weighed on results.
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Unsurprisingly, the best performers for the current
period were the cat-focused specialists...
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