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.

The European Insurance and Occupational Pensions Authority (EIOPA) has filed its report on Solvency II. The paper is open for public consultation, after which the European Commission (EC) take sup EIOPA recommendations.

According to Brad Kading, President of the Association of Bermuda Insurers and Reinsurers, Bermuda is well-suited to meet Solvency II standards.  The EC will decide on Bermuda’s equivalence after conferring with the European Council and the European Parliament.

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

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