Our History


  • BILTIR founded June 9, 2011 to advocate for Bermuda’s life sector as one common voice.
  • Founding companies: Athene Life Re, Transamerica Life Re, Aurigen Re, Front Street Re, Wilton Re Bermuda.
  • Four committees formed: Tax, Regulatory/Legal, Capital, Financial Reporting.

  • Initial meetings with Bermuda Monetary Authority (BMA) to collaborate on enhancements to the capital requirement model (BSCR)

  • BILTIR working groups formed to cover topics such as: assets, longevity, capital, variable annuities, group, eligible capital, advocating for a business oriented regime.
  • Strategy Committee formed to focus on our meeting strategic objectives and supporting the Bermuda community.

  • Focus on Economic Balance Sheet (EBS) and calculation of the Best Estimate Liability (BEL) using interest rates shocks as proxy to Matching Adjustment methodology instituted by Solvency II, Omnibus II.
  • First BILTIR conference brings 130 Bermuda long - term Life sector delegates together at the Fairmont Southampton.

  • Focus on Head Office requirements, Financial Conditions Report (FCR) and other disclosures.
  • Massive victory for the Island and BILTIR – Bermuda achieves Solvency II equivalence!
  • Second annual BILTIR conference grows in size to 185 delegates.
  • Wendy Outerbridge appointed Secretary - BILTIR‘s first employee.

  • Imani Smith of Berkeley Institute awarded first BILTIR $30,000 scholarship, an important BILTIR commitment showing our support to developing young Bermudian talents.
  • Math tutoring programme starts with Cedarbridge Academy.
  • First Lunch & Learn sessions for schools hosted by Global Atlantic Re.
  • BILTIR works with ABIR and ABIC to respond to US Border Adjustment Tax.

  • Wenda Roberts replaces Wendy Outerbridge as Secretary.
  • Over 200 attend annual BILTIR conference featuring Black Swan author Nassim Taleb.
  • BILTIR scholarship awarded to former Berkeley Institute student Marcus Henschke to study risk management and insurance, St John’s University, New York.
  • BILTIR, ABIR, ABIC work on US Base Erosion and AntiAbuse Tax (BEAT).

  • First summer intern programme launched with ten university students obtaining paid work experience at Athene Life Re, Global Atlantic Re, Hannover Life Re, Legal & General, Somerset Re, Sun Life and Wilton Re.
  • BILTIR, ABIR, ABIC assist Government’s demonstration that Bermuda can meet EU economic substance requirements.
  • BILTIR Scholarship to former Bermuda College student Kimika Jackson to study risk management and insurance St. John’s University, New York.

  • Membership grows by 11% from 55 to 61 companies.
  • Long-term Life sector grows to assets under management (AUM) $544 billion
  • Focus on tax matters, legislative changes, community efforts, economic substance, and immigration – BILTIR’s role is critical more than ever!
  • A record 415 delegates register for annual BILTIR conference, which was cancelled due to Hurricane Paulette.
  • BILTIR members continue to support the development of young Bermudian talents: students on intern programme grows from 10 to 18; participating companies grows from seven to 10.
  • Scholarship of $30,000 to Zya Fraser of Berkeley Institute to study risk management and insurance, Georgia State University

  • 50+ meetings including with Government, BMA, ABIR, ABIC, and Bermuda Business Development Agency (BDA).
  • COVID 19 Modelling Task Force and Economic Advisory Task Force formed to assist Government in the wake of COVID is formed to help in areas where BILTIR members have extensive insights to share.
  • First virtual conference featuring former Lloyd’s CEO Dame Inga Beale as keynote speaker.
  • Works with Government, ABIC, ABIR to lobby OECD on base erosion and profit shifting tax – a global topic potentially impacting Bermuda.
  • Board directors and BILTIR members contribute to 50+ articles in global re/insurance trade and financial press, panels, round tables, interviews.
  • Members support 50+ charitable initiatives and donate more than $4 million to community causes.
  • $30,000 Scholarship to CedarBridge Academy student Taiyana Allen to study data analytics and actuarial science

  • Membership grows to 61 companies - 44 re/insurers; 17 service providers
  • Members contribute nearly $500 million in direct and indirect spending to Bermuda economy.
  • Members employ 600+ people on the island - 60% are Bermudian.
  • BILTIR is supporting member on UN Principles for Sustainable Insurance.