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Bermudian reinsurers posted solid 2013 earnings despite challenges: Deloitte

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Deloitte L.L.P. has said that reinsurers in Bermuda reported solid earnings in 2013 despite more competition and low investment yields, Bermuda Sun reported.

Reinsurers' underwriting and operating performance was strong, partly because of favorable prior-year reserve development and lower catastrophe losses, Deloitte said in a report.

The reports also showed that Bermuda's share of the global reinsurance market increased to 8% in 2013 from 4% in 2003.

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