The Bermuda Solvency Capital Requirement Ratio (BSCR), or Enhanced Capital Requirement ratio (ECR ratio), is the coverage ratio of the Eligible Capital to meet the Enhanced Capital Requirement (ECR) over the ECR.
ECR ratios are reported in insurers’ annual Financial Condition Report (FCR), and much like the Solvency II ratio in Europe serve as a bellwether for an insurer’s overall financial health.
The chart below shows the ECR ratios of a selection of Bermudan insurers in 2023.
The Minimum Margin of Solvency ratio (MMS) is the lower capital requirement. It is similar to the European Solvency II MCR ratio.
The chart below shows the MMS ratios of a selection of Bermudan insurers in 2023.
More information about the data is available to premium subscribers of Solvency II Wire Data and subscribers to Solvency II Wire’s exclusive SFCR Spotlight mailing list (subscribe for free here).
Datasets available on Solvency II Wire Data
Swiss Solvency Test (SST): all available data 2016 – 2023
Bermuda Financial Conditions Reports (BSCR): all available data 2016 – 2023
Bermuda Financial Statements: data for 324 insurers 2016 – 2023 (selected tables)
Israel Economic Solvency Ratio Reports: all available data 2016 – 2022
Lloyd’s Syndicate filings: data for 143 syndicates 2016 – 2023 (872 reports) selected tables
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