BMA Director Bell Honoured
Bermuda Monetary Authority Board member and chairman of the board of directors of Swiss Re America Holding Corporation Walter Bell was recently presented with the Distinguished Fellow Award by the International Association of Insurance Supervisors (IAIS).
The Distinguished Fellow Award is an annual award established by the IAIS in 2004 to recognise persons who have contributed significantly to its activities.
Criteria for nomination include being a former chairman of an IAIS working party or a former supervisor from one of the 190 jurisdictions represented by the IAIS, who has either been intensely involved in successfully completing substantial work for the IAIS or has provided outstanding services to the IAIS.
Commenting on Mr. Bell’s achievement, Bermuda Premier and Minister of Finance Paula Cox, said, “It is a tremendous acknowledgement of Mr. Bell’s sustained and positive contribution to the development of sound principles and standards in insurance regulation. Our Government congratulates him on this magnificent achievement.”
Mr. Bell was appointed to the BMA board of directors in 2008 as its first international member.
Alan Cossar, chairman of the BMA board of directors, said: “It is with great pleasure that we congratulate Walter on this outstanding accomplishment. He is a seasoned insurance professional with a depth of experience unrivalled by many in the industry.
“As a regulator he had a pragmatic approach and a global perspective, having gained his experience both nationally in the US, which included leading the National Association of Insurance Commissioners, and at the international level. Being recognised by the IAIS as a Distinguished Fellow is a testament to his expertise and the invaluable contribution he has made to the industry over the years.”
Mr. Bell said: “I am delighted and humbled to be recognised in this way by an organisation that does such vital work to maintain efficient, fair, safe and stable insurance markets for the benefit and protection of policyholders.”
Mr. Bell was active on a number of IAIS Committees in previous years, including Vice-Chair of the IAIS Executive Committee, Technical Committee, Budget Committee, and Financial Outlook Task Force. He actively promoted the work of the IAIS in many international fora, and was instrumental in creating awareness of the IAIS in many jurisdictions.
Mr. Bell has been chairman of Swiss Re America Holding Corporation of Swiss Reinsurance Co. since September 2, 2008. He oversees and directs regulatory and public affairs for all of Swiss Re’s North America businesses, helping provide state and federal legislators, regulators and others with the insights they need for effective policy-making. He also provides supervisory governance of the Americas businesses for Swiss Re.
Mr. Bell served as National Director of Emerging Markets of the MONY Group from 1995 to 1999. He was then Commissioner of Insurance of the State of Alabama from 2003 to 2008.
