450 People Attend Annual Bermuda Risk Summit
The Bermuda Business Development Agency [BDA] announced that its second annual Bermuda Risk Summit, held from March 6-8, attracted 450 attendees, including over 150 business visitors.
A spokesperson said, “The Bermuda Risk Summit creates long-term business development growth potential, in terms of dealmaking opportunities occurring around the event in front of an extremely important June 1/July 1 renewal season for Bermuda’s reinsurance sector. The short-term economic impact, including lodging, transportation, food and beverage, retail, and recreation, was estimated at $1.8 million, and supported 266 jobs.
“This figure includes approximately 100+ additional visitors who flew to Bermuda for business meetings or ancillary events taking place this week around the Bermuda Risk Summit. Our inaugural event, held March 14-16, 2022, attracted 350 delegates, 80 from overseas, had an economic impact $1 million, and supported around 200 jobs.”
David Hart, BDA, CEO said, “The BDA thanks all of the companies and leaders from Bermuda’s globally significant Risk and Insurance Solutions industry for their contributions to our event, but more importantly, for their contributions to Bermuda’s economy as a whole. We especially want to thank all of the overseas visitors that made the journey to attend our event. The BDA looks forward to continuing to build and improve upon our annual Risk Summit and welcoming you back in 2024.”
The spokesperson said, “The BDA extends our appreciation to the Association of Bermuda Insurers and Reinsurers [ABIR], EY and Gallagher Re, our headline sponsors; Hyperexponential, our diamond sponsor; SS&C, our gold sponsor; AM Best and Kirkland & Ellis, our silver sponsors; and Aon, Bermuda Brokers, Demotech, Docosoft, Florida Insurance Council, KPMG, Meenan P.A., MS Reinsurance, and Rein4ce our supporting sponsors. The Insurer is our official media partner, and our spirits partner is Goslings.
“Bermuda Risk Summit kicked-off with a keynote conversation with Bermuda’s Premier, The Hon. David Burt, JP, MP, followed by a group CEO panel moderated by Sophie Roberts, Head of The Insurer TV, that featured Peter Bell, CEO & Managing Director, Everest Re, Stephen Catlin, Executive Chairman, Convex [Past Chair & Deputy Chair ABIR], Christopher Schaper, CEO, AIG Re [ABIR Deputy Chair], and Megan Thomas, CEO, Hamilton Re. Senior regulators from the Bermuda Monetary Authority, National Association of Insurance Commissioners [NAIC], and the Bank of England’s Prudential Regulatory Authority were also among the speakers.
“The BDA is looking forward to its second annual Bermuda Climate Summit, also being held at the Hamilton Princess & Beach Club, from June 26-27, 2023.”
