March 23rd, 2009

Shareholders’ Funds Down 15% for Bermuda Reinsurance Composite

Posted at 1:15 AM ET

klein_chris_bioChristopher Klein, Managing Director and Head of Global Business Intelligence
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Aggregate shareholders’ equity for the Guy Carpenter Bermuda Reinsurance Composite fell 15 percent in 2008 - from USD62 billion to USD52 billion. Unrealized investment losses contributed most to the decline, followed by share repurchases and an aggregate net loss arising from Bermuda’s proportionately heavier exposure to the 2008 hurricanes. The changes of shareholders’ equity for individual reinsurers ranged from 8 percent gains to 39 percent drops.

(Chart after the jump)

bermudacompositeshf

The Bermuda Reinsurance Composite does not include ACE or Flagstone, both of which are included in the Guy Carpenter European Composite.

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