AXIS & ABIR Pay Tribute To Michael Butt

February 9, 2023

[Updated] The Association of Bermuda Insurers & Reinsurers [ABIR] paid tribute to the late Michael Butt saying he was an “industry legend” and a “passionate voice for the Bermuda market.”

ABIR Chair and CEO of Hamilton Insurance Group Pina Albo said, “Michael was an industry legend. His leadership over decades was significantly instrumental in growing of ABIR as the collective international voice of the Bermuda insurance and reinsurance market. We offer our most sincere condolences to his family. May they take comfort in his memory. Bermuda certainly mourns his loss.” ABIR Chair, Pina Albo, CEO of Hamilton Insurance Group, Ltd.

ABIR CEO  John M. Huff said, “Over the course of his career, Michael Butt was a builder of business and a passionate voice for the Bermuda market. He served as ABIR chair in 2008 and 2009 but contributed greatly to the industry for years before and after his term as Chair. ABIR, Bermuda and consumers around the world continue to benefit from Michael’s leadership.”

AXIS tweeted the graphic below saying, “The AXIS community mourns the loss of our longtime Chair Michael Butt. His contributions have left a lasting impact on AXIS and the industry. We would like to share a letter written by AXIS President and CEO Albert Benchimol to AXIS colleagues in remembrance of Michael.”

Update Feb 10, 9.02pm: Premier David Burt said: “Michael Butt was a well-regarded industry leader who played a key role in establishing Bermuda as a leading re/insurance centre. His long and distinguished career spanned more than five decades, and throughout this time, he remained a vital contributor to Bermuda and was committed to preserving our reputation as a major international financial centre.

“He served in leading roles within the Association for Bermuda International Companies [ABIC] and the Association for Bermuda Insurers and Reinsurers [ABIR], was a co-founder and former Chairman of AXIS Capital, as well as a selfless supporter of local arts and charities.

“As Minister of Finance, I had the pleasure of working with Mr Butt as he was a member of the Financial Policy Council, a committee established to advise the Ministry of Finance and the Bermuda Monetary Authority on matters relating to financial stability in Bermuda.

“I greatly appreciated his insights and the vast knowledge and experience that he shared with the Government for the betterment of Bermuda’s financial industry. And I also appreciated how he continually used his platform to promote Bermuda and all we offer to the international financial industry.

“On behalf of the Government of Bermuda, I extend my heartfelt condolences to his family and loved ones.”

Michael Butt Bermuda Feb 9 2023 (1)

Michael Butt Bermuda Feb 9 2023 (2)

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