World Risk and Insurance News spoke with Brad Kading, President & Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), during the recent Joint Industry Forum in New York.  He discussed the impact of the tropical storms that hit the island in October 2014, Bermuda’s efforts to seek Solvency II equivalence, NAIC designation of Bermuda as a “qualified Jurisdiction, alternative capital and more.

Community spirit and strong building codes help Bermuda recover from hurricanes.

Bermuda is well-suited for Solvency  II equivalence, but EIOPA & EC remain ahead.

NAIC ‘s “Reinsurance  Modernization” certification facilitates Bermuda trade/enhances reputation.

Industry needs to grow demand to put new capital to work.

Residual markets and penetration in developing markets offer growth opportunities

2015 holds regulatory risk and growth challenges for new capital

For more information on the Joint Industry Forum, visit the On Demand Library.

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