The Insurance and Reinsurance Legacy Association (IRLA) has announced the launch of its new chapter in Bermuda, which is set to provide a platform for members to network, share best practices and access professional development opportunities across the region.
According to the announcement, the IRLA Bermuda chapter is expected to promote the interests of the legacy sector in Bermuda, as well as foster collaboration and communication among its members and stakeholders.
Moreover, the IRLA Bermuda chapter will be led by a committee comprised of experienced professionals from the legacy market. This includes representatives from major firms such as Enstar Group, RiverStone International, Compre Group, R&Q Insurance Holdings and BMS Group.
Importantly, IRLA Bermuda is expected to enable the growing legacy sector to review and respond to any changes in regulation or legislation that impact legacy business regionally.
IRLA Bermuda will also facilitate open and regular engagement with the BMA through a program of meetings, which clearly demonstrates IRLA’s long-established approach and dialogue with the UK’s Prudential Regulation Authority (PRA).
In addition, IRLA Bermuda will support IRLA’s global initiatives and events, such as the annual Congress, the Future Leaders Group, and the Academy.
Sarah Ruberry, IRLA Bermuda Committee Chair, and Chief Compliance Officer, Enstar Group commented: “The launch of IRLA’s Bermuda chapter underlines the continued momentum and growth of the Bermuda legacy market, which is playing an increasingly important role in delivering capital solutions to the wider (re)insurance market. IRLA Bermuda will be well-placed to provide a collective voice, support Bermuda’s strong regulatory framework and provide unique networking and training opportunities for its members.”
