Hashtag: #ABIR
Bermuda’s ‘Tug-Of-War’ With Cayman
Thee “tug-of-war” between Bermuda and the Cayman Islands over the lucrative reinsurance industry is officially on, a recruitment firm for the Caribbean off-shore domicile says today [Dec. 12]. In a blog at its website, CML — which recruits high-level staff for the legal and financial services sectors in that terrritory — says Bermuda... Read more of this article
Parliament Approves BMA Regulations
Bermuda Monetary Authority fees will be kept to a minimum in 2012 — and reduced in the case of some locally-based insurers — in a bid to stimulate the financial services sector, Parliament was told on Friday [Dec. 10]. Premier and Finance Minister Paula Cox told the House of Assembly that given the contracting local economy and increasing... Read more of this article
Bermuda Insurance Act Reforms
The Premier and Finance Minister said amendments to the island’s Insurance Act passed by Parliament last night [Dec. 9] strengthen both Bermuda’s regulatory regime as well as its competitive advantage. Premier Paula Cox said ongoing reforms and upgrades to Bermuda’s off-shore re/insurance regulatory framework to keep current with international... Read more of this article
Florida Lawmakers Protest Neal Bill
Republican lawmakers from Florida have joined with the Association of Bermuda Insurers & Reinsurers to renew concerns about the potential high cost of raising US taxes on offshore insurers. In a letter to the leadership of the Congressional Ways and Means Committee, nine members of the Florida Congressional delegation asked the tax-writing panel... Read more of this article
ABIR Cautions Against ‘Unwise’ Policies
In remarks delivered to a Real Estate Market & Property Insurance Conference hosted by the Atlanta Federal Reserve Bank yeterday [Dec.1], Brad Kading , president of the Association of Bermuda Insurers and Reinsurers [ABIR], documented the “growing, reliable and solid reinsurance capital” that supports US hurricane and earthquake risk. And... Read more of this article
ABIR Analysis Of US Tornado Losses
International reinsurers’ share of insured losses from 2011 US tornadoes is likely to be about $2.5 billion, or roughly 17 percent of total insured losses, according to analysis by the Association of Bermuda Insurers & Reinsurers [ABIR]. ABIR President Bradley Kading [pictured] told “Out of the Storm News” today [Dec. 1] that most... Read more of this article
BFIS Hosts Intern Programme Reception
The Bermuda Foundation for Insurance Studies [BFIS] in conjunction with Associate Director of the Katie School of Insurance and Financial Services at Illinois State University [ISU] Debbie Babcock last night [Nov. 29] held a cocktail reception to thank all the people and companies who hosted the BFIS/ISU Intro-To-Insurance Summer Interns Programme.... Read more of this article
Premier Signs Malta Tax Agreement In UK
Bermuda’s Ministry of Finance announced today [Nov. 24] the signing of a bilateral tax information exchange agreement with the Republic of Malta. The agreement, which took place in London, was signed by Maltese High Commissioner to the UK H.E. Joseph Zammit Tabona and Premier and Finance Minister Paula Cox. “Negotiations took place in Bermuda during... Read more of this article
ABIR Urges Brazil To Lift Restrictions
The Association of Bermuda Insurers & Reinsurers [ABIR] has joined with other global insurance groups to urge Brazil to lift reinsurance restrictions in one of the world’s leading emerging markets. ABIR — the public policy branch of Bermuda’s off-shore re/insurance industry — is part of a coalition of 18 international insurance... Read more of this article
‘Strong Objections’ Raised To Bermuda Bill
The Coalition for Competitive Insurance Rates [CCIR]– the Washington lobby group backed by the island’s re/insurance industry — has strongly objected to legislation aimed at closing what’s been called “The Bermuda Loophole” in the US tax code. Massachusetts Congressman Richard Neal has described the loophole that... Read more of this article
ABIR Praises NAIC Action On Collateral
The Association of Bermuda Insurers & Reinsurers [ABIR] — the public policy organisation for the island’s industry — has praised a US decision which could result in more states rolling back collateral requirements for overseas firms. After a 12 year effort, on November 6 the US National Association of Insurance Commissioners (NAIC) unanimously... Read more of this article
ABIR: Politicians Must Avoid Policy Disasters
In a technologically advanced and interconnected world, protectionist leaders in the US and other countries need to recognise that in order to cover the costs of calamities they require international risk-spreading and reinsurance, the head of the Association of Bermuda Insurers [ABIR] argued recently. Bradley Kading is president and executive director... Read more of this article
