BMA highlights Bermuda’s role in global risk management
07 Nov 2025
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On 12 September 2025, the Bermuda Monetary Authority (BMA) published a press release highlighting that Bermuda's commercial (re)insurers paid an astounding US$1.1 trillion in claims globally from 2016 to 2024, with US$700 billion directed to U.S. policyholders. These claims addressed catastrophic events, property and casualty losses and life insurance benefits. The data also revealed a consistent annual increase in claims incurred from 2016 to 2024 with total claims incurred in 2024 representing 20 per cent of the cumulative total for the entire nine-year period.
In 2024 alone, claims reached US$211 billion, underscoring the resilience of Bermuda's (re)insurance market amidst challenges like natural disasters, economic volatility, and geopolitical turmoil. Over the nine-year period, US$831 billion was paid to policyholders in the U.S., Europe, and the UK, cementing Bermuda's pivotal role in global risk management.
The BMA emphasised the market's strength, supported by regulation and innovation, ensuring policyholders' trust even during significant loss events.
BMA’s press release can be found here
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