Long-term industry gathers in Bermuda for Biltir event
Registration has closed for the 2025 Bermuda International Life and Annuity Conference at the Hamilton Princess & Beach Club.
Some 500 long-term insurance professionals have signed up for the two-day Bermuda International Long-Term Insurers and Reinsurers’ event, beginning on Monday.
Highlights of the educational agenda include “A Candid Conversation on US — Bermuda Life Reinsurance”.
The surge in American annuity sales has created a need for reinsurance and other sophisticated capital management tools to optimise capital and meet demands.
Bermuda reinsurance has provided a way for American life insurers to shed capital-intensive business blocks, freeing up capital for growth and other strategic initiatives, according to Biltir.
Offshore markets often have more flexible and attractive reserve regimes for managing long-term risks. Structures like “sidecars” allow reinsurers to bring in third-party capital to support specific underwriting risks, fostering greater flexibility in capital structures.
Furthermore, the increased volume of offshore reinsurance has drawn greater regulatory attention from the US National Association of Insurance Commissioners, who are concerned about transparency in complex cross-border arrangements and the adequacy of assets.
The event comes some weeks after Biltir released their commissioned report Analysis of Systemic Risk in the Bermuda Long-Term Insurance Sector, published by Oliver Wyman.
The report concluded that Bermuda’s long-term insurance and reinsurance sector does not meaningfully contribute to global systemic risk.
On Monday afternoon, senior regulatory voices from the US and Bermuda will lead dialogue on key issues such as regulatory harmonisation, solvency oversight, consumer protection and the evolving role of offshore reinsurers.
Organisers said they expect candid insights, real-world case studies and a chance to engage directly with the people shaping the future of international life reinsurance.
The midafternoon session will be moderated by Jacqueline King, director, Conyers, and include panellists Jon Pike, Utah Insurance Commissioner, NAIC; Gerald Gakundi, deputy managing director supervision, Bermuda Monetary Authority; and, Mariana Gomez-Vok, senior vice-president, The American Council of Life Insurers.
A later session, just prior to the welcome reception, will feature a seaside chat: “Economic Growth in Bermuda and the Importance of the Long-Term Sector”, where David Burt, the Premier, will be hosted by Suzanne Williams-Charles, the chief executive of Biltir.
The event claims to be the only industry conference focused on the long-term insurance industry in Bermuda and is designed to provide networking opportunities, feature leading industry experts and panel discussions on the latest trends and issues facing the industry.