John Huff, president and chief executive of the Association of Bermuda Insurers and Reinsurers, said: “The Bermuda [insurance and reinsurance] market is growing in size and sophistication. “While #Bermuda remains the leader in #natcat and climate-related coverages, we’re seeing real growth in specialty lines including #cyber, #credit, #mortgage, #politicalinstability and #retirementsecurity. “As brokers also expand from traditional brokerage into insurance management and advisory services along with #captive management, Bermuda is an ideal centre-of-excellence hub for top talent and thought leadership.”
Association of Bermuda Insurers and Reinsurers (ABIR)
Insurance
Public Policy, Advocacy & Education for Bermuda's Leading International Insurers & Reinsurers for over 30 years
About us
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 operating subsidiaries in the United States, United Kingdom and Europe, these carriers do business in more than 150 countries. Since 1993, ABIR’s advocacy and achievements have helped raise the global profile of Bermuda as a whole, underscoring the jurisdiction’s reputation as a top-tier international financial centre. Strategically deploying capital to underwrite and manage global risk for over 30 years, Bermuda insurers have built what can only be called the World’s Risk Capital - a reference to the innovation, entrepreneurialism and leadership of Bermuda re/insurers and the Bermuda government that has fostered the growth of this industry. Energized by innovation and fueled by grit and determination after Hurricane Andrew, risk pioneers in Bermuda planted the seeds for an insurance market that would ultimately be known globally for its reliable, responsible, highly-regulated and well-resourced approach to risk management. These pioneers joined forces as a collective voice by forming the ABIR. The results have been remarkable. ABIR member companies have built a market with international dominance in natural disaster coverage—the most basic insurance needs for consumers—and innovative approaches to provide re/insurance protection for nearly every other defined risk. In a relatively short period and with unparalleled scale, Bermuda’s insurers and reinsurers have supported US, UK and EU consumers with over a half a trillion dollars to rebuild after devastating losses in the past 20 years alone. Bermuda has continued to show it is the place to deploy capital against risk in a manner that is effective and efficient with speed-to-market motivation and innovation while meeting the future needs for next-generation risk transfer.
- Website
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http://abir.bm
External link for Association of Bermuda Insurers and Reinsurers (ABIR)
- Industry
- Insurance
- Company size
- 2-10 employees
- Headquarters
- Hamilton
- Type
- Privately Held
- Founded
- 1993
Locations
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Primary
One Bermudiana Road
Hamilton, HM08, BM
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1445 New York Ave Nw
Washington, DC 20005, US
Employees at Association of Bermuda Insurers and Reinsurers (ABIR)
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Jeff Manson
SVP @ Renaissance Re Ltd. | Head of Global Public Sector Partnership
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Devin Page
SVP, Head of Specialty Reinsurance at Ascot Bermuda
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Malakye Outerbridge
Intern at the Association of Bermuda Insurers and Reinsurers (ABIR) Bsc Management of International Social Challenges at Erasmus University Rotterdam
Updates
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Speaking at ILS Bermuda #Convergence: Louisiana Department of Insurance Commissioner Tim Temple said, ‘Bermuda re/insurers had paid for a lot of roofs in #Louisiana after #HurricaneIda, and the new roofs, had resisted more recent hurricanes.’ Bermuda Monetary Authority Lloyd's George B Alayon Jr. Rosie Denée National Association of Insurance Commissioners (NAIC)
Bermuda's re/insurance development hinges on innovation. The Bermuda and Lloyd’s markets are shifting from competition to collaboration, as evidenced by a recent memorandum of understanding between Lloyd's, the Bermuda Monetary Authority (BMA), and the Association of Bermuda Insurers and Reinsurers (ABIR). Read the full story here: https://ow.ly/Rogp50TIJeN #BermudaInsurance #InsuranceInnovation
Convergence: Bermuda and Lloyd’s collaborate
bermudareinsurancemagazine.com
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Welcome to ABIR Collin Anderson #Bermuda #reinsurance #WorldsRiskCapital
Collin Anderson has balanced his passions for insurance and public policy throughout his career, moving between roles in underwriting, administration, regulation, and Bermuda's civil service. Now, as the new director of policy for Association of Bermuda Insurers and Reinsurers (ABIR), he has found the perfect role that combines both interests. Read his insights here: https://ow.ly/8ttX50TuaZf #InsuranceIndustry #PublicPolicy #InsuranceRegulation
Passion project
bermudareinsurancemagazine.com
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ABIR CEO John Huff joined Missouri Department of Commerce & Insurance & NAIC #ReinsuranceTaskForce Chair John Rehagen & NAIC #Reinsurance Expert Jacob Stultz to present to a room full of state regulators from across the #UnitedStates at the National Association of Insurance Commissioners (NAIC) Insurance Summit this week in #KansasCity on the protection gap closing capital & capacity capabilities of #Bermuda #Reinsurance. #QualifiedJurisdiction #ReciprocalJurisdiction #CreditforReinsurance. #passporting. Congrats to Becky Meyer & entire NAIC Summit team for record crowd and content.
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Welcome to #Bermuda Lord Mayor. Thanks for meeting with ABIR including RenaissanceRe’s Shannon Lowry Bender & Harold Buchanan and ABIR’s Director of Policy & Regulation Collin Anderson #reinsurance #collaboration
London and Bermuda are two of the largest insurance centres in the world. The Lord Mayor held a positive meeting with Association of Bermuda Insurers and Reinsurers (ABIR) to discuss how London and Bermuda can complement each other and work together to provide better services to clients around the world.
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#Reinsurance returning to its roots providing #capital protection rather than earnings protection for cedents. #RVS2034 #MonteCarlo
“Bermuda’s capital and capacity have never been more coveted,” Huff, a former US state insurance commissioner, who has been in charge of ABIR since 2018, told Monte Carlo Today. Association of Bermuda Insurers and Reinsurers (ABIR) #RVS2024 #MonteCarlo #Bermuda
Bermuda reinsurers thrive in hard market
intelligentinsurer.com
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Record gross written premium reported by #Bermuda’s Leading Insurers & Reinsurers. Report out just in time for #MonteCarlo www.ABIR.bm
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported record gross written premium of over $171 billion in 2023, up from the $145 billion figure that was reported in 2022.
ABIR member companies report record GWP of $171bn in 2023 - Reinsurance News
http://www.reinsurancene.ws
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AM Best: ‘Traditional #reinsurance capital grows as #Bermuda thrives.’ Outlook for global #reinsurance industry is positive.
AM Best Report: Dedicated #Reinsurance Capital Thrives in Hard Market is part of the rating agency’s look at the global #reinsurance industry ahead of the #Rendez-VousDeSeptembre in #MonteCarlo. Traditional reinsurance capital increased year-over-year by approximately $57 billion, or 14 per cent, to $468 billion in 2023. “Aside from Berkshire Hathaway’s National Indemnity, the bulk of the capital growth was generated in #Bermuda in 2023, owing in large part to robust operating returns reported by various Bermudian companies.' Report: https://lnkd.in/e94PGMzv Association of Bermuda Insurers and Reinsurers (ABIR)
Bermuda’s reinsurance sector a driver of dedicated capital jump
royalgazette.com
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ABIR CEO John Huff is participating as a judge in the upcoming Global Insurtech Awards 2024. The Global InsurTech Awards set out to recognize and honour insurtech innovation and creativity. Nominations close on Monday 16th of September. All companies submitting nominations have an unlimited number of entries. You can submit entries online through the Global InsurTech Awards portal. For more information visit: https://lnkd.in/eA-j-YPU #insurtech #innovation #creativity #awards