Bermuda To Host Securities Conference
On Thursday, 14 November, 2013, insurance and reinsurance companies, sponsors, investors, securities firms and investment banks, asset managers, regulators and service providers will congregate in Hamilton, Bermuda for Convergence 2013, the Island’s inaugural global insurance-linked securities (ILS) conference.
Convergence 2013 is the creation of ILS Bermuda, a newly formed group of member organisations who are engaged in global capital markets and insurance on the Island.
Delegates from around the world will have the opportunity to network and discuss the industry’s most strategic opportunities and pressing challenges in an environment focused on building relationships and making deals.
“As the world’s leading jurisdiction for insurance-linked securities and collateralised reinsurance, Bermuda is a natural convergence hot spot and therefore an ideal host for this conference,” says Kathleen Faries, spokesperson for ILS Bermuda.
“ILS Bermuda brings together the shared interests of participants in the reinsurance and capital markets convergence marketplace. Our aim is simple: build and sustain businesses, promote job creation and lead economic growth in the convergence space in Bermuda. We believe this conference will become the marquee event for the ILS industry,” she adds.
“We are excited about the creation of ILS Bermuda and the planning now underway for their first event, Convergence 2013, which will present the Island as the pre-eminent domicile for ILS.
“The Ministry of Economic Development is pleased to support this joint industry initiative, especially given its focus on developing new business and commercial opportunities for Bermuda organisations active in alternative reinsurance and insurance-linked securities,” says Dr Grant Gibbons, Minister for Economic Development.
The Minister continued: “This conference is exactly the sort of initiative from the Bermuda Business Development Corporation that we want to encourage as they actively engage with industry stakeholders. ILS activity in Bermuda has grown rapidly in the past few years and Bermuda has been independently lauded as the world’s top domicile.
“A combination of intellectual property, leading investor and reinsurance marketplaces, a tried and tested approach and the right listing and regulatory backdrop, provide for optimal conditions and competitive advantage for transacting insurance-linked deals.
“We want to continue building on this momentum – and believe that Convergence 2013 will cement Bermuda’s position as a leading jurisdiction in this space.”
Although full conference details are forthcoming, the concept for the conference is being modelled after popular global reinsurance events such as Monte Carlo’s annual Rendezvous, which brings together top minds and innovators from around the world who connect with each other, and negotiate and develop new business deals.
The event is also being held during a week in Bermuda well known for industry gatherings for a variety of functions and meetings, and will coincide with the Island’s annual World Rugby Classic.
“Whether you’re a sponsor, investor or intermediary, Convergence 2013 will equip attendees with the latest industry insights and connections to help them build their business and succeed in the market. If there is one event to place on your business calendar for 2013 it’s this one,” concludes Ms. Faries.
Visit ils-bermuda.org or contact info@ils-bermuda.org for further information. Conference registration details will be provided in the coming weeks.
