Bermuda International Long Term Insurers and Reinsurers has created three new positions on its board of directors.

Sylvia Oliveira, a current board member, takes up the position of chairwoman. Ms Oliveira, who is chairwoman and chief executive officer of Wilton Re Bermuda, has more than 25 years’ experience in the insurance industry, and is also chief risk officer at the Wilton Re group. Ms Olivera is also a board member of the Association of Bermuda International Companies.

Thomas Olunloyo, who is CEO of Legal & General Reinsurance and is also a current board member, is appointed to vice-chairman. Before becoming CEO, Mr Olunloyo was the chief actuary and chief investment officer of L&G Re. Mr. Olunloyo is also a board member of Abic.

Frank “Chip” Gillis, an industry veteran who was one of the founder members of Biltir in 2011, is appointed to the advisory role of director emeritus.

Mr Gillis was a co-founder of Athene Holding and is a Board member of Abic and Bermuda College.

Ronnie Klein, Biltir executive director, said: “The organisation has grown in size, prominence and effectiveness since it was founded in 2011. These appointments will facilitate Biltir’s strong commitment to provide real value to its membership and to Bermuda.”

Biltir represents 65 long-term insurance, reinsurance and servicing companies in Bermuda who provide life and annuity products and employ 725 people on the island.