BILTIR is committed to an inclusive communication structure where all member feedback is welcomed. Four committees have been created to solicit input from membership to address regulatory, tax and market developments impacting long-term insurers and reinsurers.
Global Advocacy Committee: The Global Advocacy Committee proactively engages on international issues impacting Bermuda and assists our members in promoting the strength and vitality of the Bermuda life insurance sector that prioritizes policyholder protection above all else. This committee also engages with international regulators, governments, BILTIR members, clients and advocacy groups to educate stakeholders on Bermuda's life sector.
Risk and Capital Committee: The Risk and Capital Committee review and addresses any matters that relate to solvency and capital rules and regulations, including all Bermuda Solvency and Capital Requirement (BSCR) and Commercial Insurers Solvency Self-Assessment (CISSA) issues. It also focuses on matters relating to financial statement requirements, including the Bermuda statutory filing, GAAP financial statements and the Economic Balance Sheet. This committee is ideal for actuarial and/or financial staff responsible for filing the BSCR, CISSA and creating and filing the financial statements.
Regulatory/Legal Committee: The Regulatory/Legal Committee focuses on any regulatory or legal matters. This includes the review of the translation of BMA regulatory changes from consultation papers into legislative acts. This committee is ideal for general counsels and legal staff.
Tax Committee: The Tax Committee focuses on any tax matters that may impact the long-term (re)insurance industry, such as US Federal Excise Tax, OECD and PFIC. This committee is ideal for company tax specialists.
Social Impact Committee: The Social Impact Committee reviews BILTIR's strategic purposes and presents recommendations to the Board on its mission/vision initiatives.