BMA appoints chair of IAIS Reinsurance Task Force

The Bermuda Monetary Authority (BMA) has appointed Dr Marcelo Ramella, deputy director, policy and research, as chair of the International Association of Insurance Supervisors’ (IAIS) Reinsurance Task Force.

Dr Ramella will serve for two years, during which time, the mandate of the Reinsurance Task Force will be to review and suggest improvements to the international standards for supervising reinsurance.

Jeremy Cox, chief executive officer at the authority, congratulated Dr Ramella on his appointment, noting that the authority participates in numerous IAIS committees, and has chaired or co-chaired the Reinsurance Transparency Group, Reinsurance Subcommittee, Macroprudential Policy and Surveillance Working Group and the Insurance Groups and Cross Sectoral Subcommittee.

“Bermuda was a founding member of the IAIS and Marcelo has been actively taking part in the IAIS on the Authority’s behalf for 10 years,” said Cox.

“During this time he has become valued both locally and overseas for his regulatory experience and breadth of knowledge about the global re/insurance marketplace. This is a good example of the level of credibility Bermuda and the Authority’s team holds in the international regulatory community.”