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Bermuda - Facing the future in Bermuda.

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| November 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Reinsurance)

Byline: Marc Jones.

Anyone who has ever run a business knows that making a profit is easy when the economy is booming and people think that their wallets are bottomless. Doing well when things are going badly takes a lot more skill and judgement.

It has now been two years since the events of 11 September 2001 and the massive losses that resulted from the collapse of the World Trade Centre and the loss of four passenger jets in a single day. In the aftermath the insurance market hardened substantially, but there was a lack of capacity.

As a result there was a massive injection of new capital into the creation of new ...

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