Press Release
Bermuda Association Launches New Web Site
Category:The Association of Bermuda Insurers and Reinsurers (ABIR)
Hamilton, Bermuda: Thursday, July 06, 2006 -
The Association of Bermuda Insurers and Reinsurers (ABIR) has launched its World Wide Web home at http://www.ABIR.bm. The Association represents 22 of Bermuda’s major international insurers and reinsurers. The companies are all Class 4 carriers in Bermuda. This regulatory category includes the highest capital requirements and imposes stringent solvency regulation requirements consistent with international solvency regulation standards.
“Bermuda’s major international insurers and reinsurers play an important role in the global economy. These carriers have contributed at least $20 billion in catastrophe claim payments to the US economy in the last two years,” noted Bradley L. Kading, ABIR President and Executive Director. “In addition, in the last 9 months more than $24 billion has been raised in the capital markets to support insurers and reinsurers. Most of this money has been invested in Bermuda based carriers,” Kading noted.
The web site affords a way to communicate information on public policy issues, ABIR statistics and Bermuda regulation. The http://www.ABIR.bm site also includes links to Bermuda government, industry and press sources.
For more information, contact: Bradley L. Kading at Bradley.Kading@ABIR.bm
202-783-2434
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