Hashtag: #ABIR
Hurricane Sandy: Local Insurers To Cover $2.5B
Estimated reported losses from Hurricane Sandy currently stand at over $18 billion with international insurers covering nearly 50 percent of claims from the storm, over $2.5 billion of which will come from Bermuda. In response, Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR), issued the... Read more of this article
McGavick Elected ABIR Board of Directors Chair
The Association of Bermuda Insurers and Reinsurers [ABIR] has elected its new officers for a two year term beginning on January 1, 2013. Mike McGavick, CEO of XL Group plc was elected as Chair of the ABIR Board of Directors. He succeeds Arch Capital Limited’s President and CEO Constantine Iordanou who has now completed a two year term as ABIR Chair. Elected... Read more of this article
Premier Cox Attends Meetings In Belgium
Premier and Minister of Finance Paula Cox is in Brussels, Belgium, where she delivered the message to key European decision-makers that Bermuda considers it “vital to actively engage with Europe and also to tell the Bermuda story.” Premier Cox said: “It is important to put a political face to Bermuda while crucial decisions are being made.... Read more of this article
Minister: Seeking ‘Right Balance’ On Work Permits
The Minister of Economy, Trade and Industry Patrice Minors today [May 22] offered the following regarding the recently released Association of Bermuda Insurers and Reinsurers’ [ABIR] survey. Minister Minors, who is the substantive Minister responsible for work permit matters, said, “I want to assure both the local and international business sectors... Read more of this article
Chamber Of Commerce Responds to ABIR Report
The Bermuda Chamber of Commerce has added its support to the conclusions of the Bermuda Economic Impact Survey, which was recently released by the Association of Bermuda Insurers and Resinsurers [ABIR]. “The fact that employment in the International Business sector has been in decline since 2007 is borne out by the Chamber’s own research, and by... Read more of this article
ABIR: ‘Continuing Trend Of Job Reductions’
The Association of Bermuda Insurers and Reinsurers [ABIR] released its Seventh Annual Bermuda Economic Impact Survey results, which shows that ABIR members’ directly contribute nearly $1 billion dollars to the Bermuda economy, and also show a “continuing trend of job reductions in Bermuda. Constantine Iordanou, Chair of the Association’s Board... Read more of this article
ABIR: “Disavow Relationship With Heartland”
The Association of Bermuda Insurers and Reinsurers [ABIR] have announced that they will discontinue their support for the Heartland Institute, after the Chicago based think tank started an ad campaign comparing people who believe in global warming with serial killers and mass murderers. Reports said that billboards that appeared in the Chicago area,... Read more of this article
RIMS Convention & Exhibition In High Gear
The 50th Annual Risk and Insurance Management Society [RIMS] Convention & Exhibition under the umbrella, “50 Years Making Connections” began in earnest on Monday [Apr.16] with registrants from across the globe making their way to the convention floor. In addition to hundreds of exhibitors, numerous sessions offered at RIMS included, Excellence... Read more of this article
Premier Attends RIMS Conference In Philadelphia
The Premier and Minister of Finance, Paula Cox is currently attending the 48th Annual Risk and Insurance Management Society [RIMS] Conference & Exhibition in Philadelphia, Pennsylvania. Attendees from more than 50 countries including multinational corporations and international organizations will come together in Philadelphia at RIMS 2012 to learn... Read more of this article
ABIR Critical Of Japan’s ‘Uneven Playing Field’
The Association of Bermuda Insurers & Reinsurers [ABIR] and 14 other global business groups yesterday [Apr.6] expressed “deep concerns” over Japan’s commitment to fulfilling its international obligation to provide a level playing field to all insurers and other financial institutions doing business in the Japanese market. In a... Read more of this article
Mixed Reaction To Brazil Regulatory Changes
Industry opinion on the likely long-term impact of new Brazilian reinsurance rules lobbied for by the Association of Bermuda Insurers & Reinsurers [ABIR] among other groups remains mixed, a recent survey conducted by “LatAm Insurance Review” has revealed. ABIR is the public policy branch of Bermuda’s re/insurance industry, with... Read more of this article
Island Absorbed 40% Of Tornado Losses
The Association of Bermuda Insurers and Reinsurers [ABIR] yesterday [Mar. 15 said international reinsurers paid 24 percent of US 2011 tornado losses for a total of $2.5 billion, with Bermuda reinsurers footing 40 percent of the losses. Bradley Kading, ABIR’s president and CEO, explained that the figures produced from publicly reported data only... Read more of this article
