ABIR to address Bermuda's future in 25th anniversary leadership forum

04-04-2018

The Association of Bermuda Insurers and Reinsurers (ABIR) is bringing together distinguished past leaders with current chief executives of Bermuda's global insurance market in a leadership forum to market ABIR's 25th anniversary this summer.

Held on Jul 10 at Rosewood Bermuda, the Premier of Bermuda and Minister of Finance, David Burt, will open the forum, and former premier of Bermuda Sir John Swan will offer closing remarks.

“We’re inviting industry partners and stakeholders to join us in this special event to highlight Bermuda’s resilience and evolution as the world’s premier destination for all forms of financial capital and insurable risk,” said John Huff, ABIR president and CEO. “ABIR was established in 1993 on the heels of Hurricane Andrew, whose aftermath saw the creation of the first wave of property catastrophe re/insurers in Bermuda. This Class of ’93 property catastrophe re/insurers helped to further build upon the vitally important Bermuda re/insurance hub, which supports consumers and rebuilds communities after the world’s worst disasters.”

Speakers will include ABIR leaders, public-policy leaders and industry and regulatory executives.

Kevin O’Donnell, president and CEO of RenaissanceRe and current chair of ABIR, commented: “Over the past 25 years, the Bermuda market has achieved exponential growth and recognition for its global contributions in the wake of major catastrophe losses—and ABIR has been there every step of the way.

"With ABIR helping ensure markets worldwide can access Bermuda’s expertise and capital, since 1997 Bermuda reinsurers have paid more than $200 billion to US customers alone, including 10 percent of the World Trade Center attack claims, a third of liabilities incurred during 2005’s devastating hurricanes, and approximately 30 percent of losses from Hurricanes Harvey, Irma and Maria in 2017."

ABIR firms contribute approximately $900 million annually to the local economy and directly employ over 1,500 professionals on the island.

ABIR, Property, Casualty, Catastrophe, Reinsurance, Bermuda

Bermuda Re