In November, we hosted a traditional reinsurance market roundtable in Hamilton, Bermuda, in partnership with RiverStone International, where nine experts and leaders from around the world debated current market dynamics, challenges and future opportunities.
The 2025 Reinsurance News Bermuda Heritage Market Roundtable Report in partnership with RiverStone International is now available for free download.
Roundtable participants noted that even as overall activity decreased in 2025, the level of sophistication, planning and strategic intent behind legacy transactions continues to deepen, indicating that the industry is steadily solidifying its role in the broader insurance ecosystem.
It was highlighted that the market has matured with positive shifts in heritage perceptions, with one participant describing the industry as completely different to what it was ten years ago.
Panellists agreed that M&A activity between reinsurers/insurers is expected to present significant opportunities in the traditional sector, with speakers highlighting the importance of partnerships and relationships, the role of IRLA and AIRROC, and the supportive and collaborative approach of the Bermuda regulator.
During the insightful session, roundtable participants also discussed shifting motivations for carve-outs, evolving structures, landmark deals, repeatability, syndication, the shift in investor base towards private equity, the potential impact of talent and advanced technology in legacy industries, and more.
On the day, we were joined by the following participants from traditional industries:
- Jamie Sanderschief underwriting officer at RiverStone International.
- Dan Sanfordmanaging director of mergers and acquisitions at Enstar.
- Adam Horridgedirected by Teneo.
- Steve RylandManaging Director and Global Head of Retrospective Solutions at Acrisure Re.
- Steve WallaceManaging Director, Aon Reinsurance Solutions Capital Advisory.
- Jane NewtonCFO of Xitus Insurance.
- Nick MyersPartner, The Kennedy Family.
- Damian CooperPwC insurance partner.
- Along the riverHead of Actuarial M&A, General.
Download a copy of the 2025 Reinsurance News Bermuda Heritage Markets Roundtable here.
Thank you to RiverStone International for supporting our Bermuda Heritage Market Roundtable. We would also like to thank all the speakers for their thoughtful insights and making the discussion truly engaging. We appreciate your time and contribution.
