As its first international appointee, the Bermuda Monetary Authority this week named Alabama Insurance Commissioner Walter A. Bell to its board of directors.
The appointment was made by Finance Minister Paula A. Cox, the BMA said, noting that Mr. Bell has experience in insurance regulation and actively participates in the review and development process for insurance regulation at both the U.S. and international levels.
Ms. Cox said in an official BMA statement that there would be "a significant collateral benefit to the Authority and to Bermuda's insurance market in Mr. Bell's appointment. Bermuda's reinsurance market provides more than 40 percent of the cover for U.S. property risks."
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