BILTIR Forms Global Advocacy Committee
Bermuda International Long Term Insurers and Reinsurers [BILTIR] has formed a Global Advocacy Committee to “engage on international issues which affect the island’s life insurance sector.”
A spokesperson said, “The committee will interact with regulators, governments, BILTIR members, clients, and advocacy groups to actively communicate Bermuda’s strengths as one of the world’s largest and most sophisticated commercial insurance marketplaces. Bermuda is compliant with the highest recognized international regulatory standards, which is a testament to Bermuda’s prudent risk-based solvency framework.
“The Global Advocacy Committee will work with other business associations and stakeholders to ensure Bermuda maintains its strong reputation as a competitive and leading international financial centre.
“BILTIR represents 68 member companies within Bermuda’s life and annuity re/insurance marketplace, which serves to provide protection and financial stability to families and individuals. Bermuda’s regulatory framework and supervision model is aligned with most rigorous international standards which prioritize policyholder protection above all else.”
BILTIR Executive Director Martin Laframboise 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 spokesperson said, “The Global Advocacy Committee members will be:
- 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
- Executive Director [Global]: Yibo Hu, CRO of Somerset Re.
