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Bernina Re Announces Q3 Year-to-Date Underwriting Profit

Bernina Re Announces Q3 Year-to-Date Underwriting Profit

Bernina Re Ltd. today announced an underwriting profit for the nine-months ended 30 September 2022.

  • The portfolio, consisting of property catastrophe reinsurance and retro, has delivered a nine-month underwriting profit
  • The year-to-date underwriting combined ratio is 86.4%
  • Based on current estimates, Hurricane Ian contributed a $23.8m net negative impact on the underwriting result

Michael Dennis, Chief Executive Officer, said, “Despite the significant human and economic costs of Hurricane Ian in the last days of the quarter, Bernina Re’s year-to-date underwriting profitability is a result which demonstrates the value of our disciplined underwriting approach and excellent analytical capabilities. Our talented team and wide platform reach mean we are uniquely placed to take advantage of dynamic market conditions in the upcoming January renewal period.”

About Bernina Re

Bernina Re is a specialist reinsurance and retrocession provider. We offer our clients risk-transfer products and solutions underpinned by disciplined and prudent underwriting, superior analytical capabilities, and a culture of professional excellence. Our capital is provided by funds managed by Credit Suisse Insurance Linked Strategies Ltd. (Credit Suisse ILS). Bernina Re is registered in Bermuda and is licensed as a Class 3A reinsurer.

Important Notice

The data and analysis provided by Bernina Re Ltd. herein or in connection herewith are provided “as is,” without warranty of any kind whether express or implied. Neither Bernina Re Ltd., its affiliates nor their officers, directors, agents, modelers, or subcontractors (collectively, “Providers”) guarantee or warrant the correctness, completeness, currentness, merchantability, or fitness for a particular purpose of such data and analysis. In no event will any Provider be liable for loss of profits or any other indirect, special, incidental and/or consequential damage of any kind howsoever incurred or designated, arising from any use of the data and analysis provided herein or in connection herewith