Global (re)insurance industry leaders join forces at ABIR
Ascot Re Joins Board; Willis, Guy Carpenter & AON form ABIR Broker Advisory Cabinet
Hamilton, Bermuda, August 14, 2018—The Association of Bermuda Insurers & Reinsurers (ABIR) announces a new board member and formation of the ABIR Broker Advisory Cabinet.
Seasoned insurance veteran Mr. John Berger will join the ABIR Board of Directors on behalf of Ascot Reinsurance Company Limited. Headquartered in Bermuda, Ascot Group has offices in London, Houston, New York, Chicago, Dallas, and Singapore with expertise spanning several lines of business including Property, Energy, Cargo, Terrorism and Political Risk, Marine Hull and Liability, Casualty, Personal Accident, Renewable Energy, Healthcare, Treaty, and Specie and Fine Art. The Ascot Reinsurance Company Limited membership application was approved at the ABIR Board meeting in July.
Kevin O’Donnell, President and CEO of RenaissanceRe Holdings Ltd. and current Chair of ABIR said, “Ascot Re is an excellent addition to the ABIR Board. We are confident that Ascot Re will contribute significantly to our collective efforts of continuing to build Bermuda’s global insurance market.”
ABIR also announces its newly created (re)insurance broker membership program – the ABIR Broker Advisory Cabinet. This special advisory body allows for a simultaneous relationship and collaborative efforts among Bermuda’s leading (re)insurers and now brokers to sustain Bermuda’s successful, international (re)insurance market. Bermuda is recognized as a U.S. qualified jurisdiction and is deemed EU Solvency II equivalent with market participants conducting business around the globe.
The inaugural members of the ABIR Broker Advisory Cabinet will be Lara Mowery of Guy Carpenter; Tony Fox of AON and Chris McDowell of Willis Towers Watson.
“As ABIR marks its 25 years of innovation and leadership, we continue to grow and expand the successful model of ABIR. The establishment of the ABIR Broker Advisory Cabinet – and these three leading brokerages – help cement the future of Bermuda as the World’s Risk Capital” said John M. Huff, President & CEO of ABIR.
About ABIR: The Association of Bermuda Insurers and Reinsurers (ABIR) represents the public policy interests of Bermuda’s international insurers and reinsurers that protect consumers around the world. With headquarters and operations in Bermuda and with operating subsidiaries in the United States and Europe, these carriers do business in more than 150 countries. Bermuda is the center of global expertise on underwriting for catastrophe risk transfer products and other specialty insurance and reinsurance. For more information, please visit: www.abir.bm. Follow us on Twitter @ABIR_Bermuda