The body that represents Bermuda's international life insurers and reinsurers has hired Ronnie Klein as senior adviser.

Members and directors of the Bermuda International Long Term Insurers and Reinsurers decided that with the steady growth of the sector, “the association had to retain a senior level manager to ensure Biltir's strategic goals continue to be met”.

Mr Klein is the secretariat for the Global Reinsurance Forum and director, global ageing of the Geneva Association in Zurich.

He has more than 30 years' experience in the global life insurance industry and has been in leadership roles at Zurich Insurance Company, AIG, Swiss Re and Mutual of New York.

Biltir's membership has grown from five companies in 2011 to 57 companies today. The Bermuda Monetary Authority's 2017 Annual Report shows that Bermuda-licensed life companies hold $288 billion of assets, which is 52 per cent of the commercial insurance sector and 37 per cent of the entire Bermuda insurance sector, including captives.

The association is managed by its board of directors, who are executives from long-term companies on the island. Biltir advocates for its members on regulatory, legal and tax issues, both locally and globally.

“We are fortunate to have someone of Ronnie's calibre and experience to help Biltir reach its goals,” said Sylvia Oliveira, Biltir director. “We are at a critical moment and we need leadership to successfully implement our strategies and advocate on behalf of our member companies. Ronnie is a strong communicator who is well-known in the global life insurance community.

“With his vast experience, Ronnie has a solid understanding of life-sector products and markets, as well as our concerns and barriers.”

Mr Klein said: “Bermuda is one of the largest insurance and reinsurance hubs in the world. As the newly appointed senior adviser to Biltir, I hope to leverage the strength of Biltir's members to promote public policy and regulation that is supportive of the long-term interests of Bermuda's life insurers and reinsurers, while protecting Bermuda's reputation as a prudent and principled domicile.

“In addition, we will fight hard to reduce insurance and reinsurance trade barriers.”