Bermuda International Long Term Insurers and Reinsurers (BILTIR), which serves as a formal association representing the long-term insurers and reinsurers in Bermuda, has appointed Shelby Weldon as executive director.
Weldon, who has over 30 years of experience in Bermuda financial services, will lead BILTIR in its mission to advocate for Bermuda’s life and annuity industry.
BILTIR represents 61 long-term insurance, reinsurance and servicing companies in Bermuda that provide life and annuity products and employ 725 people on the island.
During his 15-year career at the Bermuda Monetary Authority (BMA), Weldon served as director of compliance and director of licensing and authorisations.
He has also served as inspector of companies at the Registrar of Companies and as a director of the Bermuda Business Development Agency (BDA), where he represented Bermuda’s insurance sector.
More recently, Weldon served as senior vice president of Marsh Management Services (Bermuda), where he provided management services to insurance companies.
Commenting on his appointment, Weldon says: “I am excited by this new role with BILTIR as it provides another platform and opportunity to serve and protect one of the most important aspects of Bermuda's ongoing financial stability. I look forward to working with the members, the government, the BMA and all other industry stakeholders to ensure that Bermuda's long-term and annuity sector continues to grow from strength to strength.”
BILTIR chair Sylvia Oliveira adds: “He is a well-known and well-respected leader in Bermuda’s insurance industry. He understands firsthand the local and international pressures faced by Bermuda’s insurance and reinsurance companies. Shelby Weldon’s deep regulatory and industry experience and relationships will be incredibly valuable in advocating for our members.”
