Hashtag: #ABIR
ABIR: Move Insurance Risk To Private Sector
In comments delivered at the Global Insurance Symposium, ABIR President Bradley Kading called for insurance risk to be moved from non-essential government insurance programs to the private sector, noting this was in the long term best interest of taxpayers and consumers. “With the interest of pension funds, sovereign wealth funds and hedge funds in... Read more of this article
ABIR Members Report $11.7 Billion Net Income
The Association of Bermuda Insurers and Reinsurers [ABIR] today [Apr 17] released the 2013 global underwriting results for its member re/insurers. Eighteen of 21 member re/insurers participated in this 2013 report. The companies write insurance and reinsurance from underwriting centers in Bermuda, Europe, Asia, and North and South America. The 18 re/insurers... Read more of this article
ABIR Hosts Twelve Visiting Business Students
The Association of Bermuda Insurers and Reinsurers [ABIR] hosted 12 University of Georgia business students for a 2-hour workshop on the history and importance of the Bermuda insurance market. The workshop highlighted the leading role Bermuda has played in taking on risk from around the world. ‘Bermuda stands out by combining efficient capital deployment... Read more of this article
ABIR Comments On Recent IAIS Development
The Association of Bermuda Insurers and Reinsurers [ABIR] in a statement on January 28 to the International Association of Insurance Supervisors [IAIS] expressed its support for international solvency capital standards for insurers but noted that the risk based approach should build upon the extensive investment in regulatory systems already made by... Read more of this article
ABIR Applauds US/Bermuda FATCA Agreement
Bradley Kading, President of the Association of Bermuda Insurers and Reinsurers [ABIR], praised an agreement signed by US Consul General Robert Settje and Bermuda Minister of Finance Bob Richards to implement the Foreign Account Tax Compliance Act [FATCA]. The agreement, which signals international cooperation on tax law enforcement and compliance,... Read more of this article
ABIR Comments On Group Supervision
In comments filed with the International Association of Insurance Supervisors [IAIS], the Association of Bermuda Insurers and Reinsurers [ABIR] offered its support for the development of insurance capital standards [ICS] and implementation of them via the Common Assessment Framework [ComFrame]. The ComFrame program and the ICS are now under development... Read more of this article
ABIR: Incentives For Job Makers Act ‘Welcomed’
[Updated] The enhancements proposed to the Incentives for Job Makers Act tabled in the House on Friday are very much welcomed, the Association of Bermuda Insurers and Reinsurers [ABIR] said. An ABIR spokesperson said, “The enhancements proposed to the Incentives for Job Makers Act tabled in the House on Friday are very much welcomed; they recognize... Read more of this article
ABIR Members Contribute $816M To Bermuda
The Association of Bermuda Insurers and Reinsurers [ABIR] released its Eighth Annual Bermuda Economic Impact Survey results. A statement from ABIR said, “The data show that ABIR members’ directly contribute $816 million dollars to the Bermuda economy, but also shows a continuing trend of job reductions in Bermuda. ABIR believes that the aggregate... Read more of this article
ABIR Supports President’s Climate Change Plan
Bradley Kading, President of the Association of Bermuda Insurers and Reinsurers [ABIR], released a letter sent to President Barack Obama in response to his Climate Action Plan. The letter said, “On behalf of the Association of Bermuda Insurers and Reinsurers (ABIR) please accept these comments in support of key elements of your Climate Action... Read more of this article
ABIR: Threat Is Middle Of Night, Last Minute Deal
Legislation before Congress that would change the tax treatment of reinsurance ceded to non-US affiliates of domestic insurers — including those operating from Bermuda — is unlikely to be enacted as a stand-alone measure, but might pass as part of a larger budget or tax reform bill, the financial website Business Insurance reports. Companion... Read more of this article
Industry Journal: Bermuda Firms’ Coverage Vital
The latest flare-up in the long-running conflict between domestic US insurers and companies that write reinsurance in the American market from off-shore jurisdictions like Bermuda once again highlights the “vital” Property & Causualty coverage provided by overseas entities, “The Insurance Journal” reports today [Apr. 29]. The... Read more of this article
Bermuda Reinsurers: 2012 Results Improve
Premium volume, net income and capital levels improved for Bermuda-based reinsurers in 2012, according to data released to “Business Insurance” magazine on Monday [Apr. 15] by the Association of Bermuda Insurers and Reinsurers [ABIR]. The report, based on a survey including 19 of the association’s 21 member companies, found that global... Read more of this article
