The article reports on the absorption of many property catastrophe (cat) specialty reinsurers by their larger rivals in Bermuda. It cites PartnerRe Ltd. and RenaissanceRe Holdings Ltd. as the remaining independent reinsurers in the area. W. Marston Becker of Alterra Capital Holdings Ltd. relates the evolution of the sector in which consolidation occurred after Hurricane Andrew. Steven K. Bolland of Gill & Roeser Inc. states that sidecars are more likely to be created than new cat reinsurers.
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