Oct 2026
The 2026 Bermuda International Life and Annuity Conference (BILTIR) brought together industry leaders, regulators and advisors to discuss the opportunities and headwinds in the life and annuity sector. A central theme throughout the conference was Bermuda’s growing role in helping re/insurers address the retirement and longevity challenges facing ageing populations worldwide. Conyers’ Bermuda Insurance and Reinsurance practice was represented by Sophia Greaves, Jacqueline King, Chiara Nannini, Sarah Lusher, Jessica Almeida, Kathleen McBeath and Lauren Pereira.
Drawing on the themes explored during the conference, we highlight five key takeaways from this year’s discussions:
1. Bermuda’s Long-Term Insurance Market Continues to Scale Globally
Opening the conference, BILTIR Chairperson and Athene Life Re CEO Natasha Scotland Courcy highlighted that Bermuda continues to maintain its position as a leading global market for long-term risk and retirement solutions. She noted that Bermuda, through the work of the Bermuda Monetary Authority (BMA), continues to focus on its commitment to long-term stewardship, transparency and regulatory confidence.
BILTIR member firms collectively manage over US$1.52 trillion in assets and protect approximately 90 million policyholders. In addition, there remains opportunity for growth throughout the Asia-Pacific (APAC) region with 721 million people within that region expected to reach retirement age by 2050.
2. Closing the Global Retirement Gap Remains an Industry Priority
A recurring theme throughout the conference was the widening retirement funding challenge facing many economies. Amy Kessler, Senior Strategic Advisor at EY, led a discussion on Geopolitics, Demographics and the Global Retirement Gap, emphasised the role of private capital and insurance solutions in effectively addressing the access gap, savings gap and decumulation gap. These solutions are helping retirees to turn savings into an income stream enabling them to retire with dignity.
Key risks to retirement security were identified as market volatility, increasing longevity, inflation and the rising cost of healthcare. Deferred annuities and “lifetime income” products were highlighted as tools to address longevity risk. It was observed that while insurers make the promise, reinsurers bring the capacity and that Bermuda was well equipped to contribute towards that capacity for the purpose of closing the retirement protection gap.
3. Bermuda Continues to Attract Growing Interest from the APAC Market
The session titled Global Capital, Asian Opportunity: Bermuda’s Expanding Presence in APAC identified Bermuda as an increasingly attractive jurisdiction for APAC asset-intensive reinsurance and direct life business. Growth is being driven by rising demand for asset-intensive reinsurance transactions, particularly from Japan, where insurers are using reinsurance as a capital and risk management tool to de-risk existing portfolios, release capital and redeploy that capital towards new business and growth opportunities. Demand for wealth preservation, succession planning and cross-border estate planning is also driving growth in high-net-worth life insurance. Panellists attributed Bermuda’s appeal to its regulatory reputation, Solvency II equivalence, structuring flexibility, a deep pool of insurance expertise and access to a broad range of diversified investment opportunities, particularly in the US credit markets. Bermuda was described as an excellent source of long-term capital, with credibility highlighted as a key selling point for the jurisdiction.
4. Rethinking and Demystifying Risk in Private Credit
Peter Giacone, Senior Managing Director, Insurance, KBRA, moderated a session with regulators (BMA and NAIC) and key industry professionals to discuss Funding Long-Term Promises: Rethinking and Demystifying Risk in Private Credit and the role private credit plays in supporting long-term insurance liabilities, which included discussion around debunking the liquidity, valuation, transparency, and alignment limitations associated with private credit and the role the regulator plays in ensuring that appropriate risk mitigation strategies are adopted by insurers to effectively facilitate responsible use of private credit, ultimately delivering the best outcomes for policyholders. From the BMA’s perspective, the focus is on effective regulatory oversight with an emphasis on ensuring that asset-liability management and transparency are in line with the prudent person principle.
5. “Bermuda Competes on Standards, Not Short Cuts”
The panel, What Keeps Bermuda in Business, featuring panellists including Sophia Greaves, Director and Head of Bermuda Insurance and Reinsurance, examined Bermuda’s business environment and international competitiveness. While challenges such as business costs and housing were acknowledged, Sophia highlighted the value of Bermuda’s legal and regulatory stability, noting that certainty and credibility continue to drive investor confidence, which are qualities that remain critical to attracting long-term insurance and reinsurance business.
Looking Ahead
The 2026 BILTIR conference reinforced Bermuda’s position as a leading global centre for long-term insurance and reinsurance. As the industry navigates evolving regulation and growing demands, Bermuda’s regulatory strength, specialist expertise and access to global capital continues to support growth and relevance.
How Conyers Can Assist
Conyers Insurance and Reinsurance practice advises insurers and reinsurers across the regulatory lifecycle, including formations and licensing, governance and ongoing regulatory compliance. Our team combines industry knowledge and technical ability to support clients throughout the lifecycle of their business. Conyers is well positioned to help clients navigate complex legal and commercial considerations while capitalising on opportunities within Bermuda’s sophisticated re/insurance market.