BILTIR appoints Weldon, a former BMA compliance director, as executive director

Bermuda International Long Term Insurers and Reinsurers (BILTIR) has appointed veteran financial services professional Shelby Weldon as executive director, to lead its mission to advocate for Bermuda’s life and annuity industry.

Weldon has spent over 30 years in the Bermuda financial services industry, 15 of them at the Bermuda Monetary Authority (BMA), serving as director of compliance and director of licensing and authorisations. He was also inspector of companies at the Registrar of Companies and a director of the Bermuda Business Development Agency (BDA), representing the insurance sector. He was also a senior vice president of Marsh Management Services (Bermuda), providing management services to insurance companies.

Weldon described himself as “a Bermudian who has benefited greatly from the international business sector,” stressing his new role “provides another platform and opportunity to serve and protect one of the most important aspects of Bermuda's ongoing financial stability.”

Sylvia Oliveira, BILTIR’s chair, said Weldon’s deep regulatory and industry experience and relationships will be incredibly valuable in advocating for BILTIR’s members. She called him “a well-known and well-respected leader in Bermuda’s insurance industry” who “understands firsthand the local and international pressures faced by Bermuda’s insurance and reinsurance companies.”

BILTIR represents 61 long-term re/insurance and servicing companies in Bermuda, which provide coverage for mortality, longevity, disability and retirement risks.