Bermuda commercial [re]insurers incurred US$1.1 trillion in gross claims costs to policyholders and cedants globally during the nine-year period from 2016 to 2024. A BMA spokesperson said, “These costs covered large catastrophes, property and casualty losses, as well as life insurance claims for policyholders’ dividends, surrenders, maturities, annuities [including payments for financial and biometric risks], […]