Bermuda's Re/Insurance Industry: Pioneering Sustainable Solutions for a Resilient Future

The Critical Role of Re/Insurance in Climate Risk Management

As we celebrate Earth Day, it’s important to remember that every day is Earth Day in the re/insurance industry. Our industry plays a critical role in developing innovative adaptation solutions, in measuring and pricing climate risks to inform risk management, and in providing economic support to people and communities when disasters strike.

Bermuda: A Leader in Climate Risk Finance

With partners from government, our internationally recognized consolidated regulator the Bermuda Monetary Authority (BMA), and the re/insurance industry with its historic legacy of leadership in responding to global natural catastrophes, Bermuda has the foundational elements to become a leader in climate risk finance.

Closing the Protection Gap and Investing in Sustainable Assets

Armed and informed with the latest research and data, Bermuda is working diligently to close the world’s protection gap of $113 billion in 2020 – the difference between natural catastrophe and man-made economic losses and insured losses. Most of that gap exists in emerging economies, so ABIR member companies join with the Insurance Development Forum (IDF) in committing $5 billion of re/insurance capacity to developing nations by 2025.