Lloyd’s Chairman To Speak At BMA Seminar

October 6, 2014

john-nelson-lloyds-londonThe Bermuda Monetary Authority [BMA] has unveiled an impressive line-up of speakers and panelists for the first of what is intended to become a series of seminars focusing on the drivers of change in the financial services industry.

Chairman of Lloyd’s of London, John Nelson [pictured left], will give the opening keynote address at the inaugural seminar titled “Understanding the New Normal in Insurance and Reinsurance,” which is scheduled for December 4 at the Fairmont Southampton.

A spokesperson said, “John Nelson was appointed Chairman of Lloyd’s in October 2011. He was the Chairman of Hammerson plc until 2013. He is a Chartered Accountant, who worked in both the UK and the US while with Kleinwort Benson.

“He joined Lazard in 1986, becoming Vice Chairman in 1990. He subsequently became Chairman of Credit Suisse First Boston [Europe], and Deputy Chairman of Kingfisher plc.

“In addition, he has been a Non-Executive Director of BT, Woolwich plc, JP Morgan Cazenove and Cazenove Group. He is a Senior Adviser to Charterhouse Capital Partners LLP. He is also the Chairman of Chichester Harbour Trust and a Trustee of the National Gallery and chairs its Development Committee.

“Panellists will include Andrew Bailey, Deputy Chairman of the Bank of England and CEO of the UK’s Prudential Regulation Authority; Brian Duperreault, CEO, Hamilton Insurance Group; Mike McGavick, CEO, XL Group; Dennis Mahoney, Director, Ironshore Inc, and Frank Majors, co-founder and Principal, Nephila Capital.

“The panel will be moderated by Fiona Luck, a member of the BMA’s Board of Directors, and closing remarks will be delivered by BMA CEO, Jeremy Cox.”

Mr. Cox said that in light of recent developments in insurance and reinsurance, the seminar will be taking place at a critical point in time.

“Given the rapid pace of change in the markets and the nature, scale and complexity of underlying transactions and risk programmes, it is important that the Authority maintains its relevance and its leadership role by facilitating global debate on the issues confronting and shaping the financial services sector.

“The New Normal seminar on 4th December will provide a vital platform for what I envision will be a lively debate among some of the leading thinkers and practitioners in the world of risk transfer.

“In my view, there has never been a more important time for the world’s insurance sector to meet and deliberate on the forces that are transforming the risk industry,” Mr. Cox finished, adding that future New Normal seminars will likely focus on other aspects of the financial services industry such as banking, funds and asset management.

“The BMA Seminar will take place in the Mid-Ocean Amphitheatre at the Fairmont Southampton on December 4, 2014, commencing at 8.45am with a welcome address by Bob Richards, Deputy Premier and Minister of Finance.

“The seminar registration fee is $20 per person and anyone wishing to attend should e-mail communications@bma.bm. A luncheon sponsored by the Association of Bermuda Insurers and Reinsurers [ABIR] will commence immediately following the seminar. The lunch speaker will be announced shortly.

“Because seating capacity for the lunch will be limited, seating will be allocated on a first come, first
served basis.”

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