Minister: Bermuda’s ‘Dominant’ RIMS Presence

May 9, 2014

Minister of Finance Bob Richards spoke today [May 9] in the House of Assembly about Government’s recent attendance at the RIMS convention in Colorado, describing Bermuda’s presence as “dominant.”

Minister Richards said, “On April 28 and 29, the Premier, accompanied by the Minister of Education and Economic Development and myself, lead a large contingent of Bermudians in attending the Risk and Insurance Management Society [RIMS] convention, which this year was held in Denver Colorado.

“Bermuda has attended this convention for many years and the Bermuda booth has traditionally been one of the main centers of activity on the convention floor. This year was no exception. There were many Bermudians who traveled to Denver, at their own expense, solely to represent their country at the Bermuda booth. I would like to thank them for their commitment and enthusiasm.

“As a jurisdiction, Bermuda’s presence at RIMS could only be described as dominant. Bermuda hosted a reception on the evening of April 29 which was attended by hundreds of convention participants enabling the total Bermuda contingent a further opportunity to network on behalf of our insurance and reinsurance sectors.”

The Minister’s full statement follows below:

Minister of Finance Bob Richards said today [May 9] in the House of Assembly: Mr. Speaker, I am pleased to be able to inform the House of the Government’s recent attendance at the Risk and Insurance Management Society [RIMS] convention.

On April 28 and 29, the Premier, accompanied by the Minister of Education and Economic Development and myself, lead a large contingent of Bermudians in attending the Risk and Insurance Management Society [RIMS] convention, which this year was held in Denver Colorado. The RIMS convention is the largest annual gathering of insurance providers and potential customers on the calendar and provides a unique opportunity for industry participants to network with each other and with current and prospective clients.

Mr. Speaker, Bermuda has attended this convention for many years and the Bermuda booth has traditionally been one of the main centers of activity on the convention floor. This year was no exception. There were many Bermudians who traveled to Denver, at their own expense, solely to represent their country at the Bermuda booth. I would like to thank them for their commitment and enthusiasm.

Several corporate attendees with Bermuda based operations were also located close to the official Bermuda booth. For the first time our booth, which features a Bermuda cottage, was organized by members of the Bermuda Business Development Agency [BDA]. I would like to thank Mr. David Cash, interim BDA CEO, and the BDA team for a job well done.

Mr. Speaker, as a jurisdiction, Bermuda’s presence at RIMS could only be described as dominant. Bermuda hosted a reception on the evening of April 29 which was attended by hundreds of convention participants enabling the total Bermuda contingent a further opportunity to network on behalf of our insurance and reinsurance sectors.

Mr. Speaker, our highly visible presence at RIMS remains a necessary component of our overarching strategy to keep the Bermuda brand synonymous with excellence, prudence and innovation in the global marketplace for insurance. Therefore, attendance and a strong presence at RIMS affirms our commitment, and our unwavering support, to a key sector of our economy.

Thank you Mr. Speaker.

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  1. Keep up the good work…a job well done!