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Market Appeal: Does Bermuda Still Have What It Takes?

Market Appeal: Does Bermuda Still Have What It Takes?. Joshua Lane Willis Bermuda Ltd. Iain W. MacLeod Marsh Global Markets Bermuda Catherine Bennett Endurance Specialty Holdings Ltd. Tony Hay Arch Insurance (Bermuda) Patrick Tannock ACE Bermuda Insurance Ltd. Jason Trueman

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Market Appeal: Does Bermuda Still Have What It Takes?

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  1. Market Appeal: Does Bermuda Still Have What It Takes? Joshua Lane Willis Bermuda Ltd. Iain W. MacLeod Marsh Global Markets Bermuda Catherine Bennett Endurance Specialty Holdings Ltd. Tony Hay Arch Insurance (Bermuda) Patrick Tannock ACE Bermuda Insurance Ltd. Jason Trueman Starr Excess International Sherron Williams XL Insurance (Bermuda) Ltd. Hillary Williams AXIS Specialty Limited

  2. Market Appeal: Does Bermuda still have what it takes? May 2, 2006

  3. FORMAT • Introductions • Comments on Growth and Sustainability • Pick a Question, any Question • Final Thoughts • Questions from the Audience

  4. Growth and Sustainability

  5. “The draw of capital to Bermuda in the wake of huge market losses appears to point to the island’s strengthening position in global insurance markets.” - A.M. Best

  6. Bermuda Market Entrants and D&O Capacity 2006 • ArielRe • Total: $375MM 2003 Timeline • AXIS Bermuda • Total Bermuda Capacity of $350MM 2001 • Arch Bermuda • AWAC • Endurance • MaxRe • Total Bermuda Capacity of $325MM 1997 • ACE Bermuda acquires CODA • Total Bermuda Capacity of $225MM 1993 • Chubb Bermuda • Total Bermuda Capacity of $225MM 1992 • Starr Bermuda • Total Bermuda Capacity of $200MM 1986 • ACE Bermuda • XL Bermuda • CODA • Total Bermuda Capacity of $125MM

  7. Product Lifecycle of Side A/DIC for Fortune 1000 Segment ACE/CODA Starr XL Arch AWAC Axis MaxRe Endurance MARKET SHARE ArielRe Introduction Growth Maturity Decline TIME

  8. Pick a Question, any Question

  9. Takeaways

  10. Time to build a model T: 1908 12.5 hours 1920 1 minute 1925 10 seconds

  11. Final Thoughts on Bermuda’s Future • You can’t imitate greatness. Advantage accrues to those who create it. • Innovation is critical • Process • Product • Service

  12. Questions

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