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Bermuda's insurers and reinsurers post weaker underwriting profits: Fitch

Posted On: Mar. 8, 2017 5:00 AM CST

U.K.-based Fitch Ratings Ltd. has said that Bermuda-based insurers and reinsurers recorded weaker underwriting results in 2016 as catastrophe losses took a toll, The Royal Gazette reports. "Bermuda insurers and reinsurers posted weaker underwriting results and steady profits in 2016; however, returns are starting to near the cost of capital and narrowing profit margins are a key risk," said Brian Schneider, senior director in Fitch's insurance team.

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