From starters to stayers

THE new Bermudian class of insurance company, unlike its forebears, is a multi-line broad-based concern. This reflects the hard market itself, which is multi-line and broad-based. Many of the new companies there are similar operations doing similar things. This, and the fact it is only possible to write the high-volume, low-frequency layers of a programme due to Bermuda’s infrastructure limitations means that everyone is concentrating on the same bit of the broad-based business.