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A report by U.S.-based ratings agency A.M. Best Co. Inc. found that Bermuda's reinsurers are struggling to generate sufficient profits to cover the cost of capital amid tough market conditions, The Royal Gazette reported. Potential merger and acquisition activity still looms over the Bermuda market as European and Asian players look for ways to grow in the absence of meaningful organic opportunities, the report said.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms