Bermuda Roundtable Winter 2017/18

The reinsurance migration calendar doesn't usually bring me to Bermuda in December.

But now that I've visited in the last month of the year I don't know why I didn't come before.

It's a great time to be on the island and I'm not just talking about the particularly pronounced temperature differential with London and New York at this time of year.

Most people you want to see are busy, but will fit you in if they can. They don't have many other visitors at this time and I think they feel they could do with a light break from piling through the renewals.

But the key is they are all on the island. The great paradox of a Bermuda trip at less busy junctures is that half the people you want to see are busy travelling themselves.

This trip was particularly fruitful. Bermuda was abuzz. A new government, major US landfalling hurricanes, the Paradise Papers, the ILS challenge from London and the Trump tax reforms were all making waves.

I found a Bermuda that was as ready for business as I have seen it for a long time. This place is so adaptable and resourceful we should never doubt its long-term stickability in the global (re)insurance world.

The group of senior executives we pulled together for this roundtable was an excellent cross-section of the new Bermuda. The entire spectrum was represented from ILS and alternative asset management through high-end run-off and more traditional P&C. We also had a broker to keep them all honest.

It was a wide-ranging discussion. Given all the Q3 and Q4 cat activity and the fact that renewals were in progress we started where we had to start.

But once we had heard from our broker that the HIM tide was not one that was lifting all boats and that capital was still abundant and happy to reload, it was only natural that risk carriers might want to change the subject.

The debate therefore went far and wide, straying into cyber insurance, InsurTech and onto regulatory questions, tax and Trump.

The rare combination of expertise, brain power, eloquence and candour around the table make for excellent and informative reading.

I commend it to you while thanking our friends at EY for their expert contributions to the debate.

My 2018 calendar already has a few days in December pencilled out for this year's trip.

To view the Winter 2017/18 Bermuda roundtable please click here.

Mark Geoghegan, Managing Director, The Insurance Insider