Bermuda’s life sector on show at IAIS
Bermuda International Long Term Insurers and Reinsurers (BILTIR) chair Natasha Scotland Courcy and newly-elected executive advisor Curtis Dickinson recently represented the island’s life insurance and reinsurance industry at an influential international insurance conference in Santiago, Chile.
The International Association of Insurance Supervisors (IAIS) conference on November 10-11 included speakers from the Insurance Development Forum, American Council of Life Insurers, the Interamerican Federation of Insurance Companies, the International Monetary Fund, Insurance Europe, and the European Insurance and Occupational Pensions Authority.
Scotland Courcy and Dickinson held a number of meetings with a range of international stakeholders.
“This was an ideal opportunity to meet fellow insurance professionals and to participate in key discussions around the future of the life and annuities sector,” Scotland Courcy said afterwards. “Bermuda’s life insurance and annuities markets play an important role in providing protection and value to policyholders around the world, and we were happy to talk to other significant players in the marketplace about what we do here in Bermuda.”
Dickinson added: “The life insurance sector is a key pillar in Bermuda’s economy, providing employment to more than 600 people on the island. BILTIR has an important role to play in engaging with others in the international markets, to explain how our robust regulatory framework operates, but also to listen to any concerns that they may have. A number of key international insurance issues were discussed at the IAIS, and it was important that BILTIR was able to hear and be part of that dialogue.”
The theme of the conference was “Changing landscape: the role of the insurance sector in meeting emerging economic and social challenges”, and it addressed issues such as diversity, equity and inclusion; changing consumer preferences; macroeconomic risks; climate risk; and the Insurance Capital Standard.
BILTIR represents 73 annuity, life insurance and reinsurance businesses and servicing companies in Bermuda who provide life and annuity products and employ more than 600 people on the island.
