Association of Bermuda Insurers, Reinsurers Elects Officers for 2010-11

The Association of Bermuda Insurers and Reinsurers (ABIR) has elected a new slate of officers for the 2010 and 2011 term.

The bulletin said that, as of the beginning of the new year, “Michael Butt, Chairman of the Board of Axis Capital Holdings, will step down having served a two year term as Chair of the ABIR Board.

“He will be succeeded as ABIR Board Chair by Patrick Thiele, President and CEO of Partner Re Ltd. Constantine (Dinos) Iordanou, President and CEO of Arch Capital Group Ltd., will become Deputy Chair of the ABIR Board. In addition, Michael McGavick, Chief Executive Officer of XL Capital Ltd. will become Second Deputy Chair of the ABIR Board.”

The Association represents 23 Class 4 property and casualty insurers and reinsurers based in Bermuda. Its members wrote collectively US$61 billion in global gross written premiums in 2008. The premiums came from more than 200 countries. The members of the association employ 31,000 globally including 1,800 people in Bermuda.

Brad Kading, ABIR President and Executive Director, noted: “Mr. Butt had led the ABIR Board during a period with public policy challenges in many areas including US solvency regulation, tax, property catastrophe, European and international solvency regulatory standards. His stewardship has been greatly valued by the association, Kading noted. Kading noted ABIR has an excellent leadership team composed of talented business executives with many years experience running global insurance groups.”

Source: Association of Bermuda Insurers and Reinsurers – www.abir.bm

Topics Carriers Reinsurance