BILTIR creates new committee to boost Bermuda’s visibility

Bermuda International Long Term Insurers and Reinsurers (BILTIR) has created a new committee “to promote Bermuda’s life insurance sector internationally”.

The Global Advocacy Committee (GAC) will engage on worldwide issues which affect the island’s life insurance sector by talking to regulators, governments, BILTIR members, clients, and advocacy groups. The committee will “actively communicate” Bermuda’s strengths as one of the world’s largest and most sophisticated commercial insurance marketplaces, the insurance body added.

Martin Laframboise (pictured), BILTIR executive director, said: “Bermuda’s life reinsurance industry is highly respected internationally, and the BMA is recognised as a world class regulator.

“However, that message is not as widely known as it should be. Our new committee will ensure that we consistently communicate Bermuda’s strengths as a prudent compliant jurisdiction to other stakeholders around the world.”

The committee has seven members, which are: chair, John Hele, president and COO of Resolution Life Group Holdings and BILTIR board member; vice-chair, Brad Adderley, managing partner of Appleby Bermuda; secretary, Cyle Allen, legal counsel of Athene; executive director (US), Tracey Laws, head of government affairs of Athene; executive director (Asia), Niall O’Hare, founder and CEO of Triangle Life Bermuda; executive director (EU/UK), Steve Hales, CEO of Resolution Re; and executive director (Global), Yibo Hu, CRO of Somerset Re.

In addition to its promotional work, the committee will work with other business associations and stakeholders to maintain Bermuda’s reputation as a competitive and leading international financial centre, the insurance body added.

BILTIR represents 68 member companies within Bermuda’s life and annuity re/insurance marketplace.

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