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Hamilton, Bermuda (August 31, 2026) — The continued resilience and strength of Bermuda global (re)insurance market was recently highlighted by two important publications.

The Association of Bermuda Insurers and Reinsurers’ (ABIR) 2025 Global Underwriting Report revealed gross premiums for Bermuda's leading (re)insurers reached an all-time high of $197.5 billion for the financial year ended 2025. In addition, four Bermuda reinsurers were named in the top 10 reinsurers in AM Best’s Top 50 World’s Largest Reinsurers publication, further emphasising the increased prominence of Bermuda’s largest global players.

Mark Cloutier, Chair, ABIR said, “2025 was one of the strongest years ever recorded for the Bermuda market, with our member companies recording a 4.6% year-over-year increase in premiums written as well as a 16.6% increase in total equity. The Bermuda market remains extremely well-capitalised and continues to build on its historic global dominance in property coverage by growing a diverse array of specialty lines including: cyber, mortgage, political and terrorism risk, credit, transactional liability and financial lines coverage.”

ABIR reports its 2025 calendar year underwriting results highlighting:

• The Bermuda market remains healthy and well capitalized with increasing capacity to serve consumers and communities worldwide.
• 2025 was one of the strongest years for the Bermuda market with gross premium/revenues increasing to all time high of $197.5 billion.
• Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) recorded a 4.6% year-over-year increase in premium written in 2025, and 16.6% increase in total equity.   
• ABIR’s 2025 Global Underwriting Report reflects continued growth and strong financial performance among participating members. The survey received responses from 27 members, compared with 25 members in 2024. Gross premiums written increased by $8.6 billion, or 4.6%, from $188.8 billion in the 2024 report to $197.5 billion in 2025.  Approximately $850 million of the increase was contributed by two new survey participants, while five larger members each reported year-over-year premium growth of $1 billion or more.
• Premium volumes for many other participating insurers remained relatively flat in this cycle of the market.  This reflects continued market discipline, with insurers generally resisting the pursuit of market share through rapid premium growth amid declining rates. The measured increase in aggregate premiums suggests that growth remains selective and concentrated rather than broadly driven by aggressive expansion across the market.
• Investment income recorded the strongest percentage increase among the principal income measures, rising by $5.9 billion, or 34.8%, from $17.4 billion to $23.4 billion.
• Net income also increased by $5.9 billion, or 22.4%, to $32.8 billion despite absorbing significant proportion of losses related to the California wildfires.
• Total equity increased substantially by $29.6 billion, or 16.6%, from $178.1 billion to $207.7 billion. The two new participants contributed approximately $3.9 billion of this increase. Even after accounting for their inclusion, the significant growth in equity indicates continued capital accumulation and a strengthening of the participating members’ overall financial position.
• The participating companies write insurance and reinsurance from underwriting centres in Bermuda, the United Kingdom, Europe, Asia, North and South America.
• The Bermuda market continues to diversify into growing specialty lines including cyber, mortgage, political and terrorism risk, credit, transactional liability and financial lines coverage, building on the Bermuda market’s historic global dominance in property coverage.
• Bermuda continues to be a leading world re/insurance market.

John Huff, President & CEO, ABIR said, “The ABIR 2025 Global Underwriting Report reflects the continued growth and strong financial performance of our members and Bermuda continues to be a leading world (re)insurance market.”

“I would also like to take this opportunity to highlight the four Bermuda reinsurers named on AM Best’s top 10, global reinsurers group list - Everest Re, RenaissanceRe, Arch and PartnerRe,” Mr. Huff said. “A total of 15 companies named in AM Best’s World’s 50 Largest Reinsurers publication are ABIR members, additionally highlighting Bermuda’s continued global significance.”

View the full report at: www.abir.bm 

Note:  IFRS 17 has been adopted as the reporting standard by a number of ABIR members, and as such the report has been split into two tables to more accurately reflect the differences in the reporting standards.  One table includes members who report on U.S. GAAP, IFRS or Bermuda SAP basis, and the new second table contains the results for members that report on an IFRS 17 basis.  Consistent with last year’s report, the current reported results are not directly comparable to the report from the prior years for these reasons.

About ABIR: The Association of Bermuda Insurers & Reinsurers (ABIR), which represents Bermuda’s major property and casualty insurers and reinsurers doing business in 150 countries, was founded in 1993. For three decades, the Bermuda market’s risk-bearing capacity has played a key role in enabling insurance to be accessible and affordable, to the benefit of consumers around the world. Bermuda is an internationally recognised centre of global expertise on underwriting for catastrophe, climate, cyber, mortgage and credit risk transfer products, along with other specialty insurance and reinsurance. For more information, visit www.abir.bm or follow us on X @ABIR_Bermuda.