ABIR unveils senior executive appointments

26-07-2018

The Association of Bermuda Insurers & Reinsurers (ABIR) has announced a series of leadership appointments of industry executives.

ABIR announces the appointment of Leila Madeiros to the post of chair of its policy committee. The policy committee serves as the chief policy body of ABIR, with review of insurance regulation in Bermuda and overseas, international regulatory standards, public policy in Bermuda, and US natural disaster policy and insurance regulation.

Kevin O’Donnell, president and chief executive officer (CEO) of RenaissanceRe Holdings and current Chair of ABIR said, “Leila is highly regarded for her experience and wealth of knowledge of the Bermuda market and international regulation policy. Her significant history with ABIR and current position at XL make her uniquely qualified to serve Bermuda and the ABIR organization in this leadership role.”

Madeiros serves as head of compliance & regulatory affairs, Bermuda, for XL Group. She also serves as part of XL Group’s team on international regulatory and policy issues.

Previous to joining XL, Madeiros was senior vice president, deputy director and corporate secretary of ABIR, for the past 12 years. During that time, she led ABIR’s efforts in Bermuda, specifically managing ABIR’s policy development work related to Bermuda’s efforts to ensure that the BMA’s regulatory regime is equivalent to international standards. In particular, she led ABIR’s efforts with regard to Bermuda’s Solvency II equivalency project.

Prior to joining ABIR, Madeiros was the deputy director of policy, research and communications at the Bermuda Monetary Authority (BMA) directing the formulation and dissemination of appropriate policies, strategies and information for the BMA. She also served in various capacities as a Bermuda insurance regulator with the Registrar of Companies Department (prior to 2002, the agency charged with insurance supervision in Bermuda). She developed her insurance expertise working at Heddington Insurance in Hamilton, Bermuda and London, UK before becoming an insurance regulator.

Madeiros succeeds Stephen Weinstein, senior sice president and group general counsel of RenaissanceRe Holdings.

O’Donnell added, “The ABIR Board and member companies are thankful to Steve for his leadership and for his thoughtful approach to public policy issues over a time of significant change in the industry and the markets we serve.”

ABIR also announced the appointment of Michelle Seymour Smith to serve on the Financial Committee. The Financial Committee reviews and approves annual financial activity and provides guidance for the investments, expenses and income of the association. It is comprised of the ABIR Treasurer and two additional member company executives.

Seymour Smith is the chief financial officer and chief operating officer of Arch Reinsurance responsible for the financial operations of the insurance, reinsurance and mortgage divisions and their subsidiary reinsurance operations in Europe and Dubai. She has over 20 years of experience in the insurance and reinsurance industry. Prior to joining Arch Reinsurance, Seymour Smith was the Vice President of Financial Reporting at XL (formerly XL Capital) and Assistant Controller for Zurich Insurance Global Energy. 

In 2015, Seymour Smith was named to a list of 100 Influential Women in Insurance and Reinsurance by the Intelligent Insurer and to a list of 40 Influential Women in Bermuda by Bermuda Re+ILS. She is a member of Chartered Profession Accountants Bermuda and Canada.

“As ABIR marks its 25 years of innovation, growth and leadership, we celebrate the richly diverse talent in Bermuda. We are extremely fortunate to have Leila and Michelle join us in these leadership roles,” said John Huff, president & CEO of ABIR.

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Bermuda Re