Global law firm Kennedys, which has a strategic focus on the insurance sector, has joined the Bermuda International Long Term Insurers and Reinsurers (BILTIR) association.
The addition of Kennedys means that 62 companies have now joined the association, which represents Bermuda’s insurance, reinsurance, and servicing firms who provide life and annuity solutions.
Nick Miles, a partner at Kennedys, commented: “We are excited to be joining BILTIR. Bermuda’s long-term business sector is of increasing importance to Bermuda and to our practice.
“We expect it to continue to grow both in number of registrants and value of assets under management and we relish the opportunity to participate in internal BILTIR dialogue regarding regulatory and other developments and to strengthen our ties with its members.
“The international firm of Kennedys Law LLP, with whom we are associated, has a strategic focus on the insurance sector, and serves long-term insurers in the UK, Hong Kong, Singapore, Latam and the United States.”
In 2019, membership of the BILTIR association expanded by 11% from 55 to 61. The association’s member firms employ 540 people in Bermuda and contribute over $200 million in direct expenditure in Bermuda each year.
BILTIR Executive Director, Ronnie Klein, said: “I am delighted that such a respected law firm as Kennedys has recognised the value that BILTIR brings to its members. We look forward to benefiting from the firm’s expertise as we represent Bermuda’s thriving life sector through a range of complex international regulatory developments.”
