January 7th, 2009

Chart: Bermuda Composite Price/Book Ratios

Posted at 12:45 AM ET

Increased demand for reinsurance, particularly after Bermuda’s 2008 share buybacks and dividend payments - and the year’s impairment of investment assets - may require firms in the Guy Carpenter Bermuda Composite to raise capital in 2009 (though the group believes it is well-capitalized already). If there is a spike in demand, adding cash to balance sheets could be an expensive proposition, with more than half of Bermuda Composite firms trading at or below book value.

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