HAMILTON, Bermuda, March 23, 2015 (GLOBE NEWSWIRE) -- Bermuda's Premier, Finance Minister and Minister of Economic Development will join an Island delegation of close to 200 insurance industry and affiliated representatives at next month's Risk and Insurance Management Society (RIMS) annual conference and exhibition in New Orleans.
The Bermuda Business Development Agency (BDA) is orchestrating Bermuda's presence at the prestigious April 26–29 event, which every year attracts close to 10,000 risk management professionals, as well as senior executives and other decision-makers from a wide range of industries, plus some 400 exhibitors.
"Bermuda is welcomed at RIMS, thanks to our renowned (re)insurance industry sector, one of the top three in the world," said BDA CEO Ross Webber, who will also be part of the Bermuda contingent. "This event is an important platform for reinforcing the Island's long-held reputation as the 'World's Risk Capital.'"
Premier Michael Dunkley will be joined at the event by Government colleagues, Finance Minister ET (Bob) Richards and Economic Development Minister Dr. Grant Gibbons, as well as Shelby Weldon, Director of Licensing & Authorisation for the Bermuda Monetary Authority. Representatives from scores of local companies will participate, including ACE, AON, Appleby, Bermuda Commercial Bank, Canopius Underwriting Bermuda, Chubb Atlantic Indemnity, Conyers Dill & Pearman, Endurance, HSBC, Markel Bermuda, R&Q Quest Management Services, and XL Insurance.
"The Bermuda Monetary Authority is pleased to be part of 'Team Bermuda' at this year's RIMS," said Weldon. "Though our risk and insurance industry is a world leader, competition is fierce and we cannot afford to rest on our laurels. The RIMS platform gives us the opportunity to brief delegates about Bermuda's well-respected, risk-based regulatory environment."
The hallmark Bermuda booth, a two-storey structure with Island architectural styling, will be prominently positioned at the conference Exhibit Hall, with BDA and industry representatives on hand to answer questions about the jurisdiction. Premier Dunkley and the Government delegation will be welcomed by new RIMS president Rick Roberts on Tuesday, April 28, before touring the exhibit floor and visiting all Bermuda industry booths.
"It's important for Bermuda to be at RIMS to interact with risk professionals and service providers and showcase the Island under one roof," noted Jereme Ramsay, BDA Business Development Manager for the risk sector. "Our BDA booth is very visible and highlights Bermuda as the cornerstone of the risk industry. We're home to 15 of the top 40 reinsurers—and we're the leading jurisdiction for both captives and ILS industries. We look forward to bringing home new business for the Bermuda marketplace."
The BDA is also hosting its well-attended annual Bermuda Reception, a private, invitation-only event that Tuesday evening for key industry representatives and other executives.
"It is important that we maintain our profile," noted Webber. "A significant presence at RIMS is essential. The insurance sector is a sizeable provider of jobs for Bermudians and this sort of work by the BDA helps companies' ability to preserve those jobs and grow more job opportunities."
For more information, go to www.bda.bm.
ABOUT BERMUDA BUSINESS DEVELOPMENT AGENCY (BDA)
The BDA encourages direct investment and helps companies start up, re-locate or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect prospective companies to industry professionals, regulatory officials, and key contacts in the Bermuda Government to facilitate domicile decisions and make doing business in Bermuda straightforward and beneficial.
For more information, visit bda.bm.