Bermuda International Long Term Insurers and Reinsurers chairwoman Natasha Scotland Courcy and executive adviser Curtis Dickinson, the former finance minister, were delegates at the International Association of Insurance Supervisors conference in Santiago, Chile.

The event included speakers from the Insurance Development Forum, American Council of Life Insurers, the Interamerican Federation of Insurance Companies, the International Monetary Fund, Insurance Europe and the European Insurance and Occupational Pensions Authority.

Biltir said the conference theme was “Changing landscape: the role of the insurance sector in meeting emerging economic and social challenges” and it addressed issues such as diversity, equity and inclusion, changing consumer preferences, macroeconomic risks, climate risk and the Insurance Capital Standard.

While there, Ms Scotland Courcy and Mr Dickinson held meetings with a range of international stakeholders.

Ms Scotland Courcy said: “This was an ideal opportunity to meet fellow insurance professionals and to participate in key discussions around the future of the life and annuities sector.

“Bermuda’s life insurance and annuities markets play an important role in providing protection and value to policyholders around the world, and we were happy to talk to other significant players in the marketplace about what we do here in Bermuda.”

Mr Dickinson added: “The life insurance sector is a key pillar in Bermuda’s economy, providing employment to more than 600 people on the island.

“Biltir has an important role to play in engaging with others in the international markets, to explain how our robust regulatory framework operates, but also to listen to any concerns that they may have.

“A number of key international insurance issues were discussed at the IAIS, and it was important that Biltir was able to hear and be part of that dialogue.”

Biltir represents 73 annuity, life insurance and reinsurance businesses and servicing companies in Bermuda who provide life and annuity products.