Bermuda Insurance Q4 2020
We expect the non-life insurance markets in Bermuda to be negatively impacted by the Covid-19 pandemic. Thedownturn in global economic activity, specifically in the US, will weigh heavily on premium growth in the sector. The insuranceindustry as a whole in Bermuda is expected to experience significant losses. Insurers are prepared to experience high levels ofcoronavirus related claims as well as depressed premium growth. The life sector, on the other hand, is expected to grow consistentlyat a sufficient level. Longer-term market expansion is cautiously optimistic, but will depend on whether there is a protracted globalrecession caused by the pandemic.
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