Executives from the Bermuda International Long Term Insurers and Reinsurers were in Tokyo, Japan, for the 2023 International Association of Insurance Supervisors Meeting and Global Federation of Insurance Associates annual conference.

Biltir’s executive director, Christine Patton, and global advocacy committee chair John Hele were at the meetings this month. They were an opportunity for Biltir to meet fellow global association executives and discuss insurance and reinsurance issues that many associations share.

The theme of the IAIS meeting was “Mind the Gap: the Role of Supervisors in Making the Global Insurance Sector More Inclusive”. It addressed issues such as the natural catastrophe protection gaps, evolving risks in the global insurance sector, emerging risks to consumer protection, climate risk and the insurance capital standard.

Attendance at the IAIS and GFIA meetings are part of Biltir’s international networking and advocacy efforts. In the summer, Biltir executives also visited the Insurance Europe conference in Paris and the IAIS 2023 Global Seminar in Seattle.

Ms Patton said: “It is very important for Biltir to continue its global advocacy efforts. By attending key conferences, we can network with member colleagues and global regulators and keep abreast of the latest trends in the industry.”

Biltir represents 56 life reinsurers and 21 associate members in Bermuda that provide life and annuity products and employ more than 1,000 people on the island.