Hashtag: #ABIR
Report: Challenges For (Re)Insurers
While total premiums written by Bermuda (re)insurers in 2010 amounted to $112 billion — meaning that Bermuda remains one of the largest and most important markets for insurance globally — the industry faced some unanticipated challenges this year and more trying times lie ahead, according to a newly published report. Business Monitor International’s... Read more of this article
ABIR Buoyed By Panel Findings
The Association of Bermuda Insurers & Reinsurers says the conclusions reached by a Congressional panel on the US deficit are positive for the island’s international insurance industry, welcoming the commission’s calls for lower corporate tax rates in the US as well as a revised tax scheme. The panel, the National Commission on Fiscal... Read more of this article
Report: Bermuda’s ‘Back-Door’ Role
A Florida newspaper claims a Hamilton-based reinsurance firm allowed giant US insurer State Farm to continue doing business there even while the American company argued it had to pull out of Florida — and drop almost half a million customers — because it was being pushed to the brink of financial disaster by a state hit by so many storms. The... Read more of this article
ABIR: Call For US Flood Reform
The Association of Bermuda Insurers & Reinsurers yesterday [December 2] partnered with a major American reinsurance group in calling on Congress to at least partially privatise the US National Flood Insurance Programme (NFIP). ABIR president Bradley Kading and Frank Nutter, president of the Reinsurance Association, said in a statement presented... Read more of this article
‘Bermuda Loophole’ Bill Might Resurface
Controversial US legislation intended to close the “Bermuda Loophole” which allows American insurers to avoid some US taxes by basing their operations in off-shore domiciles like Bermuda could re-emerge in the new session of Congress, the Association of Bermuda Insurers & Reinsurers (ABIR) has warned. The so-called Neal Bill specifically... Read more of this article
Bermuda Reinsurer Chile Estimates Hit 2 Billion
The catastrophic earthquake in Chile on Feb 27, 2010 is projected to be the most expensive insured loss in Latin American history, according to analysts at the international broker Cooper Gay. The powerful earthquake registered 8.8 on the Richter Scale and caused significant destruction. NASA reports that the magnitude 8.8 earthquake in Chile may... Read more of this article
ABIR: Full Text of Opposition to US Congress
As we reported a week ago, the Association of Bermuda Insurers and Reinsurers [ABIR] has filed an opposition to the proposed new American regulation HR 2555 now in Congress. ABIR President Bradley L. Kading penned a letter to two US Congressmen; Barney Frank [D-Mass], the Chairman of the House Committee on Financial Services and Rep. Spencer Bachus... Read more of this article
March 17: The Bermuda Reinsurance Club
On Wednesday March 17, the inaugural Bermuda Reinsurance Club meeting will be held at the Fairmont Hamilton Princess from 9am -1pm. The event, which is hosted by Reinsurance Magazine and sponsored by Flagstone Holdings, will be opened by Bermuda’s Deputy Premier and Minister of Finance Paula Cox. Minister Cox intends to speak on on the state... Read more of this article
Bermuda Insurers File Opposition to American Bill
The Association of Bermuda Insurers and Reinsurers [ABIR] has filed an opposition to a proposed new American regulation now in Congress. The Bill HR 2555: Homeowners’ Defense Act of 2009 is described as “To ensure the availability and affordability of homeowners’ insurance coverage for catastrophic events”. The ABIR President... Read more of this article
