North End Re joins BILTIR

North End Re has joined industry association Bermuda International Long Term Insurers and Reinsurers (BILTIR), becoming its 63rd member.

The Brookfield Asset Management Reinsurance Partners Ltd  subsidiary gained regulatory approval to operate in Bermuda in May and provides capital-based solutions to insurance and reinsurance companies and their stakeholders. In July, AM Best gave it a preliminary credit assessment rating its financial strength A- (Excellent) with a long-term issuer credit assessment of “a-” pca (Excellent).

In June, BILTIR celebrated its tenth anniversary representing long-term insurance, reinsurance and servicing companies in Bermuda employing more than 600 people on the island.

“We are delighted to welcome North End Re to BILTIR and look forward to benefitting from their expertise and industry insights,” said BILTIR Chair Sylvia Oliveira.

“We are grateful that life companies like North End Re understand the benefit of working collaboratively to support the security and longevity of our sector. Bermuda’s long-term sector is thriving, and BILTIR continues to promote further growth, which benefits Bermuda’s economy and its people.”

North End Re chief executive officer Greg McConnie said: “We look forward to working with the association and its various members and stakeholders to help grow and advocate for Bermuda’s life and annuity industry. As a member of BILTIR, we are pleased to be in a position to help educate stakeholders and promote Bermuda’s life and annuity industry through community service and job creation.”