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(From Reinsurance)
Byline: Adrian Leonard.
As Bermuda's crop of new (re)insurers reported breakneck growth and astonishing income figures (Reinsurance, April 2004), some of them criticised established companies for failing to manage the insurance cycle and underwrite with profit in mind. The upstarts would do well to look over their shoulders at the graduates of Bermuda's Classes of 1993 and 1985: some have become established international companies in their own right. While attracting premium in excess of $1bn, they have shown how the advantages of youth are short-lived. As one underwriter quipped, you have a tail on day two.
Since US ...