Bernina Re commuted $2.5bn pre-2020 reserves as it turned 2022 profit
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

Bernina Re commuted $2.5bn pre-2020 reserves as it turned 2022 profit

Liz Bury
12 May 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
London HQ of the Credit Suisse bank, located in Canary Wharf, London UK.jpg

Credit Suisse ILS's Bermuda reinsurance vehicle Bernina Re commuted a $2.5bn limit portfolio related to 2019 and prior underwriting years last year, but still managed to turn an underwriting profit despite commutation costs and Hurricane Ian losses.

The company said the commuted portfolio represented around $2.5bn of limit and $150mn of written premium last year. It did not specify how this major commutation had been agreed, whether through a legacy deal or otherwise.

It

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsILS fundsCredit Suisse Insurance-Linked Strategies
liz bury 2024 ii ils 2.png
Liz Bury
Editor
Contact
Gift this article