The Bermuda Business Development Agency has partnered with UK firm Newton Media to create a special edition of Bermuda: Re+ILS to showcase Bermuda’s “Class of 2020” with a report on the re/insurance start-ups and new capital report.

The BDA said the special report includes profiles of 13 companies that include Q&As with senior executives from the Class of 2020 start-ups and the established companies that successfully raised substantial capital.

The report provides a snapshot into the thinking and strategy behind the new companies, and industry-leading viewpoints on opportunities within the market, the BDA said.

Roland Andy Burrows, chief executive officer of the BDA, said: “Bermuda has continued to welcome new companies, capital, and investors throughout 2020. This is hugely significant given the context and the impact Covid-19 had on business decisions.

“As this report highlights, recent market conditions created compelling opportunities and Bermuda has once again been the jurisdiction of choice for new entrants and a surge of capital to established players.

“Bermuda continues to be at the forefront of providing innovative solutions to solve clients’ needs and, with the Class of 2020 set to extend into 2021, we remain bullish about Bermuda’s future prospects.”

John Huff, president and CEO of the Association of Bermuda Insurers and Reinsurers, said: “The re/insurance market will be key to addressing the unfolding world of uncertainties brought on by the existential threats of the day, including future pandemics, increased frequency and severity of natural disasters, growing cyber-risk from the technological necessities of the pandemic, and signs of social inflation as societies struggle with the issues of equity and economic disparities.

“Bermuda has led the re/insurance industry in developing a scientific approach to catastrophe underwriting, innovating to better serve customers and establishing highly regarded enterprise risk-management programmes.

“Ensuring insurance products remain affordable and accessible for consumers in emerging and developed markets solidifies Bermuda’s position as the World’s Risk Capital.”

To view the special edition report of Bermuda: RE+ILS, visit https://tinyurl.com/an3pw6px