Business Bermuda Attends Bahrain Forum
Business Bermuda continues efforts in the Middle East region by attending the 7th Annual Middle East Insurance Forum [MEIF].
MEIF, run in strategic partnership with the Central Bank of Bahrain, was held on the 7 – 8 February 2011 at the Ritz Carlton, Kingdom of Bahrain. The conference set the stage for critical discussions that will chart a new phase of development for the regional insurance & re-insurance industry.
Jason Bibb, Chief Operating Officer and Chief Financial Officer of CATCo Investment Management, attended on behalf of Business Bermuda and participated in a panel discussion on Insurance Investments Landscape – Asset and Liability Management in the New Economic Climate.
Cheryl Packwood, Chief Executive Officer of Business Bermuda, said: “Bermuda is one of the world’s leading offshore financial centers, widely acknowledged as a key participant in the global insurance market and the third largest re-insurance market in the world after London and New York. Bahrain and Bermuda already have strong ties through a double tax agreement but are looking to build on this as Bahrain develops as a Middle East insurance and re-insurance hub while Bermuda aims to develop as the Islamic financial center of North America.”
Jason Bibb, Chief Operating Officer and Chief Financial Officer of CATCo Investment Management, said: “The Bermuda insurance and reinsurance market has experienced strong growth through the development of innovative risk solutions, thoughtful regulation and the ability to quickly and efficiently deploy capital to solve global insurance and reinsurance needs. Many of Bermuda’s local service providers have extensive experience of Islamic structured finance including both conventional and Sharia-compliant funds. Moreover, it is likely that the global market for Islamic insurance will continue to grow, opening exciting possibilities for Bermuda re-insurers.”
Business Bermuda will be hosting the Business Bermuda Financial Services Reception Bahrain on the 16 February as part of the effort to further develop the relationship between Bermuda and the Kingdom of Bahrain.
The event will include an introduction from Cheryl Packwood, Chief Executive Officer of Business Bermuda and a panel discussion by members of Business Bermuda including, Stuart Lacey of Altree Financial, Fawaz Elmalki from Conyers Dill, Nicolas Angio from Apex and Belaid Jheengoor from PricewaterhouseCoopers. The discussion will cover shipping, Islamic Finance, fund structures and private wealth management, after which there will be a drinks reception.
The Business Bermuda Financial Services Reception will be held at the Capital Club, located in the East Tower of the Bahrain Financial Harbour, Manama, Kingdom of Bahrain
