Bermuda is an important source of risk capital and insurance services into the European Union, and as such it is an important source of diversification of risk and provides benefits to wholesale and ultimately retail consumers across the European Union. For example, 37% of EMEA property cat risk was placed with Bermuda companies according to the most recent Aon Benfield data.
France, Germany, Spain and Benelux each place between 18–25% of their total premiums with Bermuda companies. It is therefore encouraging to see that in spite of difficult operating conditions last year the Bermuda Insurance market is continuing to play an important role internationally and that the Bermuda Monetary Authority is continuing to make good progress in its drive to enhance its regulatory regime.