Tough year in storefor insurers

| 05/02/2011

(Royal Gazette): International business faces a challenging year ahead in an increasingly soft market with downward pressure on insurance rates and a tough investment environment offering minimal returns. That is according to industry experts who said that a number of factors ranging from an excess of capital and a rise in activity in the alternate risk and insurance-linked securities sector to the implementation of new regulations, including Solvency II, would have a big impact on the future of Bermuda’s economy. Richard Lightowler, partner at KPMG, who specialises in insurance, said that insurers were being squeezed from two sides due to the pressure on rates and an unattractive investment environment.

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