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<\/p>\nCreated: Jan 15, 2026 08:02 AM (Updated: Jan 15, 2026 03:49 PM)<\/p>\n
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Bermuda\u2019s South Shore feels effects of Hurricane Melissa in October 2025 (File photograph by Akil Simmons)<\/p>\n
Bermuda\u2019s insurance and reinsurance sector could play a central role in a fast-growing global market for climate adaptation, estimated to reach $10 trillion by 2050, according to a new analysis by a senior adviser at KPMG in Bermuda.<\/p>\n
Charlotte Reboul Paradis, senior manager for policy, sustainability and healthcare at KPMG\u2019s Islands Group, said that despite contributing less than 1 per cent of global greenhouse gas emissions, islands were among the most exposed jurisdictions to climate change and were well positioned to develop and export solutions.<\/p>\n
After attending the COP30 climate summit in Brazil, Ms Reboul Paradis said the message from governments and investors was increasingly clear: climate adaptation is both a necessity and a major economic opportunity.<\/p>\n
She pointed to Bermuda\u2019s advanced insurance and reinsurance market as a strategic advantage, particularly in areas such as parametric insurance, catastrophe bonds and resilience-linked financial instruments that can be deployed globally.<\/p>\n
Recent events have shown both the risks and the benefits of preparation. Jamaica suffered losses estimated at more than 30 per cent of GDP following Hurricane Melissa, but also received a payout of more than $90 million through the Caribbean Catastrophe Risk Insurance Facility.<\/p>\n
Ms Reboul Paradis said proven, cost-effective adaptation measures already existed, including early-warning systems, which could reduce disaster damage by up to 30 per cent, and nature-based solutions such as mangrove restoration, which offered higher benefit-cost ratios than hard infrastructure alone.<\/p>\n
She argued that islands can serve as testbeds for climate technologies but scaling solutions would require more private-sector involvement and innovative financing models.<\/p>\n
\u201cAdaptation is not charity,\u201d she said. \u201cFor islands, it is smart economics and long-term strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Created: Jan 15, 2026 08:02 AM (Updated: Jan 15, 2026 03:49 PM) Bermuda\u2019s South Shore feels effects of…\n","protected":false},"author":2,"featured_media":415352,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[64,63,96321,68,101585,75,103690,177637,128],"class_list":["post-415351","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-au","tag-australia","tag-catastrophe","tag-climate-change","tag-climate-risk","tag-environment","tag-kpmg","tag-reinsurance","tag-science"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/415351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=415351"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/415351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/415352"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=415351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=415351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=415351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}