BII to host BMA licensing lunch session
Specialists from the Bermuda Monetary Authority will speak at a lunch-and-learn session tomorrow examining the Insurance Licensing and Advisory Committee registration requirements for all classes of insurance entities.
Organised by the Bermuda Insurance Institute and sponsored by EY and Conyers Dill and Pearman, it is aimed primarily at insurance professionals involved in establishing new re/insurance entities, as well as those looking to expand an insurance company’s business plan.
Malcolm Butterfield, chief executive officer of the BII, said: “The ILAC requirements are going to be fully detailed and this is a not to be missed event, given the content of the presentation. This session will be of great interest for all insurance managers, law firms, captive insurers, as well as commercial and life companies.
“In addition, two actuaries, who will be presenting to the attendees, will cover details of the capital model requirements for insurers and reinsurers.”
The presentation will include:
• Description of what is required for each class of re/insurer, as per the BMA’s rules, regulations and enhanced commercial requirements.
• Discussion on the role of the BMA’s ILAC and the key items required for submission, and
• The BMA’s capital adequacy review process.
Presentations will be made by specialists from the BMA’s Licensing & Authorisations team, as well as representatives from BMA’s Actuarial Services department.
The event will be held at XL Catlin’s headquarters, O’Hara House on Bermudiana Road, from 12pm until 2pm, and the fee for members is $100 and for non-members, $125.