Fitch Ratings will host a teleconference today, Wednesday, March 5, to discuss the Bermuda insurance and (Re)insurance markets and trends expected to affect this industry in 2008. Fitch’s analysts will also delve into the agency’s first discussion of a separate Rating Outlook for this market.
Fitch’s recently published study examines the Bermuda Market in depth in a “Special Report – ‘Bermuda Market Overview (See IJ web site – https://www.insurancejournal.com/news/international/2008/03/04/87877.htm)
The teleconference is set for 10 a.m. ET (1500 GMT – 16:00 in Europe) and is being held to coincide with the release of the Special report. It is available on the Fitch web site at: www.fitchratings.com, under Financial Institutions > Insurance > Special Reports.
Fitch notes that while Bermuda’s insurance market has enjoyed tremendous operating success in the past two years, Bermuda (re)insurers will face significant pressure on profitability going forward as property/casualty insurance pricing continues to trend steadily downward. Key near-term challenges facing the Bermuda market include managing the execution risk derived from expansion strategies adopted by some market participants, coping with the market’s unique infrastructure challenges, and retaining financial and competitive advantages derived from the island’s tax status.
Senior credit analysts from Fitch’s North American Insurance group will lead the March 5 conference call. Operator-assisted Q&A will follow for phone participants.
Live Telephone Dial-Ins:
— Live US and North America: 866-529-2924
— Live International: 706-634-4949
— Conference ID # 37588146
— Leader: Mark Rouck
— Title: Bermuda’s Insurance Market
As an added benefit, market participants also may listen to the conference call via the Web. For this listen-only mode, please use the link below. (Remove apostrophes before copying-and-pasting).
— Replay U.S. and North America: 800-642-1687
— Replay International: 706-645-9291
— Replay Dates: March 5, 2008 11:00a.m. ET – April 5, 2008 11:59pm ET
Source: Fitch Ratings
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