Abir members bring in record $197bn in premiums
A group of Bermuda’s leading international re/insurers brought in nearly $200 billion in gross premiums in 2025 - a record-breaking year, according to a new report.
The Association of Bermuda Insurers and Reinsurers’ 2025 Global Underwriting Report, based on responses from 27 member companies, compared with 25 members in 2024, showed gross premiums at an all-time high of $197.5 billion for 2025.
Gross premiums written increased by $8.6 billion, or 4.6 per cent, from $188.8 billion in the 2024 report. Approximately $850 million of the increase was contributed by two new survey participants, while five larger members each reported year-over-year premium growth of $1 billion or more.
Mark Cloutier, Abir’s chairman, said: “2025 was one of the strongest years ever recorded for the Bermuda market, with our member companies recording a 4.6 per cent year-over-year increase in premiums written as well as a 16.6 increase in total equity.
“The Bermuda market remains extremely well capitalised and continues to build on its historic global dominance in property coverage by growing a diverse array of specialty lines including cyber, mortgage, political and terrorism risk, credit, transactional liability and financial lines coverage.”
The survey showed Chubb leading the way with $65.9 billion of gross premium in 2025, followed by Arch Capital ($22.9 billion), Everest Group ($17.7 billion), Sompo ($15.3 billion), and RenaissanceRe ($11.7 billion).
Abir said premium volumes for many participating insurers remained relatively flat in this cycle of the market. “This reflects continued market discipline, with insurers generally resisting the pursuit of market share through rapid premium growth amid declining rates,” Abir’s statement added.
“The measured increase in aggregate premiums suggests that growth remains selective and concentrated rather than broadly driven by aggressive expansion across the market.”
Investment income recorded the strongest percentage increase among the principal income measures, rising by $5.9 billion, or 34.8 per cent, from $17.4 billion to $23.4 billion.
Net income also increased by $5.9 billion, or 22.4 per cent, to $32.8 billion despite the group absorbing significant proportion of losses related to the California wildfires.
Total equity increased substantially by $29.6 billion, or 16.6 per cent, from $178.1 billion to $207.7 billion. The two new participants contributed approximately $3.9 billion of this increase. Even after accounting for their inclusion, the significant growth in equity indicates continued capital accumulation and a strengthening of the participating members’ overall financial position.
The participating companies write insurance and reinsurance from underwriting centres in Bermuda, the United Kingdom, Europe, Asia, North and South America.
John Huff, Abir’s chief executive officer, said the report reflected the continued growth of member companies and Bermuda’s re/insurance leadership.
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