BMA Licensing Specialists To Speak At BII Event

June 17, 2018

Specialists from the Bermuda Monetary Authority will speak at a lunch and learn session examining the Insurance Licensing and Advisory Committee [ILAC] registration requirements for all classes of insurance entities.

Organised by the Bermuda Insurance Institute [BII] and sponsored by EY and Conyers Dill & Pearman, it is aimed primarily at insurance professionals involved in establishing new [re]insurance entities, as well as those looking to expand an insurance company’s business plan.

BII CEO Malcolm Butterfield said, “The ILAC requirements are going to be fully detailed and this is a not to be missed event, given the content of the presentation. This session will be of great interest for all insurance managers, law firms, captive insurers, as well as commercial and life companies.

“In addition, two actuaries, who will be presenting to the attendees, will cover details of the capital model requirements for insurers and reinsurers.”

The presentation will include:

  • Description of what is required for each class of [re]insurer, as per the BMA’s rules, regulations and enhanced commercial requirements
  • Discussion on the role of the BMA’s ILAC and the key items required for submission, and
  • The BMA’s capital adequacy review process

Presentations will be made by specialists from the BMA’s Licensing & Authorisations team, as well as representatives from BMA’s Actuarial Services department.

Christian Luthi, CD&P’s chairman, said, “We are pleased to have the opportunity to support what we believe should be a worthwhile event for any person operating within Bermuda’s insurance regulatory framework.”

“EY is pleased to be cosponsoring this timely event which will be of help to all insurance company classes,” says David Brown, EY Bermuda Ltd. Senior Partner and Regional Insurance Leader. “Philip Burrill, EY Partner and BII board member also supports this view.”

The event will be held at noon on Thursday, June 21. The fee for members is $100 and for non-members $125.

If you want to attend or have questions, please contact the Bermuda Insurance Institute at 441-295-1596 or email Alternatively, you can register online through the BII website.

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