Insurance Marketplace Realities 2025 Spring Update – Bermuda

Rate predictions: Bermuda

	Trend	Range
Financial lines
EPL		Flat to +5%
Wage & hour		+5% to +15%
D&O/Management liability		–5% to flat
Cyber		-5% to flat
Lawyers		+5% to +15%
Casualty
Low hazard		+3% to +6%
High hazard		+10% to +20%
Property
General property		Flat to –15%
Natural resources/Technical risks		Flat to –10%

Key takeaway

In 2025, Bermuda’s insurance market reflects a shift toward renewed competition and selective growth. Property markets are softening as abundant capacity returns, particularly for preferred risks. Casualty lines remain under pressure from litigation inflation and constrained capacity, while financial lines continue to offer stability, with D&O and cyber leading innovation. Clients are increasingly structuring programs to absorb more risk, and Bermuda remains a critical platform for complex placements and global program execution.

Casualty

Casualty rates continue to rise, with increases ranging from +10% to +20%, mirroring trends in London and the U.S. Lower-risk accounts are seeing more modest increases of +3% to +6%, while higher-risk or loss-affected placements are experiencing hikes of +10% to +20% or more, particularly in distressed industry classes. The primary drivers remain capacity constraints and escalating litigation costs, including defense of large verdicts and settlements.

Property

Following the longest period of firm trading conditions in recent memory, robust competition has returned to the Bermuda property market. Most insurers are actively pursuing growth in 2025, resulting in improved outcomes for insureds — but also creating fierce competition among carriers. Retaining business has become more challenging as all players look to grow in a crowded landscape.

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