What a year it has been since our last Insurance Bulletin in March 2020. Although the full impact of Covid-19 on the re/insurance
industry remains unclear, the need to retain capital to meet potential losses has contributed to a general hardening of the market after 15 years of soft market conditions characterised by excess capacity, low prices and more relaxed policy terms.
The improved pricing and market outlook of recent months has attracted more capital into the industry to fund deals and growth opportunities. Conyers’ market- leading insurance legal practices in Bermuda and Cayman have seen a great deal of activity including incorporation of new insurers, note offerings by existing insurers and M&A activity. We hope you find this review of recent developments in the insurance and reinsurance sectors insightful and informative reading.
Bermuda market
The pandemic and resulting economic fallout did little to dampen insurance M&A activity in 2020, and a robust year for M&A activity is predicted for 2021.
M&A deals in the Bermuda market in the past twelve months include White Mountains Insurance Group Ltd’s acquisition of Ark Insurance Holdings Ltd, Sirius…
