ABIR chief to chair safeguards against financial crime

John Huff, president and chief executive officer of the Association of Bermuda Insurers and Reinsurers, has been elected to chair the Global Federation of Insurance Associations’ Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) Working Group. Huff was elected at GFIA’s annual meeting in Santiago, Chile

Huff said: “I am pleased to be able to contribute, on behalf of the Bermuda re/insurance market, to the GFIA’s important work in strengthening our industry’s safeguards against financial crime. Bermuda’s insurers and reinsurers lead the world in providing protection against catastrophe and climate perils, as well as complex, emerging risks. As a market leader, Bermuda has a responsibility to provide international leadership in addressing global challenges–a responsibility we embrace.”

The GFIA has 40 member associations which represent insurers covering almost 90 percent of global insurance premiums.

ABIR participates in a number of GFIA working groups, including those focused on climate risks, cyber-risks, taxation and trade.