| 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.
Financial lines
- Rate environment: Minimal increases for stable risks; California headcount continues to drive premium pressure for those clients with significant exposure.
- Rate environment: This continues to be a challenging product line due to a constantly evolving regulatory environment, leading to a growing number of significant losses. The extent of the rate increase faced by an insured is driven by industry, headcount exposure and loss history.
- Rate environment: Rate is stabilizing in the Commercial and FI D&O markets, with the majority of placements renewing with small single-figure reductions, or flat.
- Rate environment: Following a couple of years of significant reductions, rates are starting to stabilize in the cyber market. For 2025, we are seeing risks renewing flat or with nominal reductions in rate.
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.
To read more, download the full report below.
Download
| Title | File Type | File Size |
|---|---|---|
| Insurance Marketplace Realities 2025 Spring UpdatePDF | 12.3MB |
Disclaimer
WTW hopes you found the general information provided here informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
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