Business Bermuda Hosts Annual NY Conference

November 30, 2012

Kicking off with a luncheon and keynote panel entitled, “The Future of Offshore: Bermuda Leading the Way”, Business Bermuda’s Annual Bermuda Financial Services Conference in New York  attracted over 300 registered attendees.

Leaders from Bermuda’s financial services sector gathered at the Harvard Club of New York to present, field questions, and generally inform the US audience on issues facing Bermuda and where Bermuda stands as a center of excellence in the global market.

According to Mr. Greg Wojciechowski, CEO of the Bermuda Stock Exchange (BSX), “Returning to the New York market annually is a very important jurisdictional exercise to not only keep the market aware of developments in the US/Bermuda commercial relationship but also advise on business innovations. This year, I found the questions that arose as a result of the panel discussion were especially relevant and useful from a BSX business development perspective.”

He continued, “The panel discussion also served as a positive forum to update the market on the TMX investment in the Bermuda Stock Exchange as well as developments occurring in Bermuda’s Insurance linked securities (ILS) space. I was delighted to advise our guests that the BSX now has over 40 ILS structures with a market cap of 5.3 billion USD, approximately 30% of the Cat bonds outstanding.”

The Deputy Director of the Bermuda Monetary Authority, Pat Phillip- Bassett; the President; CEO of The Bermuda Stock Exchange, Greg Wojciechowski; the President of Transnational Analytics LLP, Dr. Charles Ludolph; and the CEO of Business Bermuda, Cheryl Packwood opened the event offering insight and analysis as to Bermuda’s leading role in shaping the future of offshore business. Ross Webber, Permanent Secretary of Bermuda’s Ministry of Business Development and Tourism moderated the panel.

Ms. Packwood noted, “We have been hosting this event in New York for nearly 10 years, and each year it has improved. This year we saw the highest quality, in the history of the event, of key decision makers in attendance. It’s exciting to see the increased enthusiasm in the New York market regarding Bermuda’s role as a leader in offshore innovation and regulation. Bermuda is well-known as a financial services center in all the major global markets, but it is important to reiterate the Bermuda message in the US especially in light of growing competition from other offshore jurisdictions.”

Following the keynote presentation, attendees had the option to attend sessions on asset management, (re) insurance, hedge funds, capital markets, hotel development and tourism, trusts, private wealth, and the steps to setting up a business in Bermuda.

Panelist and Head of Capital Markets at MunichRe, Mr. Beat Holliger, commented, “In my third year attending this event, I am impressed with the high level of discussion concerning Bermuda’s financial services sector and the quality of attendees. I accepted the invitation to participate on the convergence panel because I believe that there is currently a trend toward Bermuda. Bermuda can be described as the ‘flavor of the day’. It is well established, has the needed infrastructure, and offers a better platform than other competing jurisdictions

Economist Mr. Charles Ludolph stated, “I learned quite a bit concerning the newest challenges that Bermuda is stepping up to. I’m very impressed with Bermuda through my research into Bermuda’s relationship with global markets. $700 billion USD flows out of the USA through Bermuda into the world economy with $300 billion USD flowing from the world economy into the US market.

“That adds up to a $1 trillion USD capacity making Bermuda more important to the world economy than I could have begun to imagine. I do not know many European countries that can claim that capacity. Bermuda is hugely important to the US, and it was a wonderful opportunity to discuss Bermuda’s position at this event.”

Share via email

Category: All, Business


Sign Up For Our Free Email Newsletters


Latest Podcasts

Podcast: Dr Fleming On Issues Affecting Seniors

Podcast: Dr Fleming On Issues Affecting Seniors

In the latest Bernews Podcast, we talk to Dr Claudette Fleming, the Executive Director of Age Concern, about issues affecting senior citizens in Bermuda.

Dr Fleming talks about research she has done in Bermuda as well as the effects of the recession on Age Concern’s members.

She also addresses the issue of income disparity and wealth transfer – where people sell their homes to have money to live off meaning less wealth is transferred to children.

Dr Fleming, who stressed she was speaking [...]

Share via email
October 17, 2016 | 2 Comments
Podcast: Martha Dismont On Child Neglect/Abuse

Podcast: Martha Dismont On Child Neglect/Abuse

In the latest Bernews podcast, we sit down with Martha Dismont, the Executive Director of the Family Centre, which has recently launched a campaign called ‘Neglect Is Abuse, See It, Stop It’ to try and stem a significant rise in cases of child neglect.

Ms Dismont links the rise in neglect cases directly “to the conditions we are seeing in Bermuda”, “particularly the rise in unemployment among locals”.

“Parents are stressed and therefore not really able to think about these issues that [...]

Share via email
September 23, 2016 | 2 Comments
Podcast: Baron On Crime, Road Safety & More

Podcast: Baron On Crime, Road Safety & More

In this latest Bernews podcast, we speak to the Minister of National Security Jeff Baron who revealed than gang membership has dropped by more than 150 people. Yet, he says, gangs are still changing and recruiting – sometimes even from schools.

The Minister talks about his plans for restorative justice – which focuses on both the needs of the victim as well as the offender, plus the community that is involved.

Mr Baron talks about his stance on policing in St. George’s and stands [...]

Share via email
August 30, 2016 | 8 Comments
Podcast: Governor On Airport, Commission, More

Podcast: Governor On Airport, Commission, More

In this latest Bernews podcast, we interview George Fergusson who will soon be stepping down as Governor.

He touches on a wide range of issues such as turning down a request to hold a Commission of Inquiry into the Tucker’s Point land matter, the airport redevelopment, the effect on Bermuda of Brexit, the British Government’s stance on slave trade reparations and more.

And Mr Fergusson re-iterated his belief that the Commission of Inquiry into issues highlighted by the Auditor General’s reports was [...]

Share via email
July 25, 2016 | 9 Comments
Podcast: MP Furbert On Same Sex Marriage Bill

Podcast: MP Furbert On Same Sex Marriage Bill

Bermuda is on “good grounds” regarding same sex marriage, based on what other countries around the world have done, according to MP Wayne Furbert.

Mr Furbert — who tabled amendments to ensure marriage was enshrined as being between a man and a woman — was responding during a Bernews podcast interview to a statement from the Human Rights Commission.

He refuted that for many – the recent referendum failed to attract 50 per cent of those eligible to vote – same sex [...]

Share via email
July 14, 2016 | 53 Comments