ASSOCIATION OF BERMUDA INSURERS AND REINSURERS

EIN: 980475219 Community Improvement

WASHINGTON, DC

Total Revenue
$1,664,287
Total Expenses
$1,684,560
Total Assets
$526,791
Net Assets
$526,791
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
DC
Principal Officer
JOHN M HUFF
Phone
2027832434
Tax Period
2023-01-01 to 2023-12-31

ASSOCIATION OF BERMUDA INSURERS AND REINSURERS, founded in 2006, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

REPRESENT PUBLIC POLICY INTEREST OF BERMUDA'S CLASS 4 INSURERS AND REINSURERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,600,000
Investment Income $0
Other Revenue $64,287
TOTAL REVENUE $1,664,287

Expense Breakdown

Grants Paid $0
Salaries & Benefits $959,485
Fundraising Expenses $0
Other Expenses $725,075
TOTAL EXPENSES $1,684,560

Year-over-Year Comparison

2023 2022 Change
Revenue $1,664,287 $1,916,872 -0.1%
Expenses $1,684,560 $1,690,818 0.0%
Net Income $-20,273 $226,054 -1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
26
Independent Members
26
Employees
2
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$873,335
Total Directors
1
$873,335
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN M HUFF President 40.00
Officer Director
$801,294 $72,041 $873,335
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,664,287 $1,684,560 $526,791 $-20,273
2022 $1,916,872 $1,690,818 $547,064 $226,054
2021 $1,607,747 $1,844,137 $321,010 $-236,390
2020 $2,112,557 $1,681,190 $557,400 $431,367
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