BILTIR membership up 11% in 2019
Kennedys has joined Bermuda International Long Term Insurers and Reinsurers (BILTIR), becoming its 62nd member.
BILTIR represents the island’s re/insurance and servicing companies who provide life and annuity products. Its membership grew by 11 percent, from 55 to 61 in 2019.
BILTIR member companies employ 540 people on the island and contribute more than $200 million in direct expenditure in Bermuda each year.
Nick Miles, a partner at Kennedys, said: “Bermuda’s long-term business sector is of increasing importance to Bermuda and to our practice. We expect it to continue to grow both in number of registrants and value of assets under management and we relish the opportunity to participate in internal BILTIR dialogue regarding regulatory and other developments and to strengthen our ties with its members.”
Ronnie Klein, executive director at BILTIR, added: “We look forward to benefiting from the firm’s expertise as we represent Bermuda’s thriving life sector through a range of complex international regulatory developments.”
Bermuda International Long Term Insurers and Reinsurers, BILTIR, Kennedys, Nick Miles, Ronnie Klein