Despite uncertainty created for Bermuda’s insurance and reinsurance market by Brexit and the election of Donald Trump as US president, there are still opportunities on the island for the life insurance market.

That view will be expressed by Chantal Cardinez, chief executive officer of Hannover Life Reinsurance Bermuda, when she speaks at InsuranceERM Insurance Risk and Capital, Bermuda event tomorrow.

“Bermuda is one of the world’s leading insurance centres and has a strong reputation of being both entrepreneurial and at the forefront of advancements in insurance risk. Bermuda has successfully built an enhanced regulatory framework for commercial insurers and reinsurers, including Solvency II equivalence status by the EU Commission.,” said Ms Cardinez.

“However, with the change in the US administration and the outcome of the EU referendum in the UK, concerns have been raised about the possible repercussions on the Bermuda market. Despite the uncertain geopolitical climate, growth in the life insurance sector continues.

“We believe there is still a lot of opportunity in Bermuda for the life insurance market and during the panel discussion we will discuss why this is the case.”

Ms Cardinez is a member of the board of directors of Bermuda International Long Term Insurers and Reinsurers. She will be on the panel of a conference session entitled “Innovation and Change in the Re/Insurance Industry”, and she will examine the growth of the life insurance sector in Bermuda, as well as discuss the most pertinent issues facing risk professionals and the outlook for the life insurance and reinsurance industry in 2018.

Others on the panel are Manu Sheen, head of reinsurance and co-CEO of Biltir member company Global Atlantic Re Limited, and Dan Malloy, chief underwriting officer at Third Point Re.

Meanwhile, Sylvia Oliveira, CEO at Wilton Re Bermuda and member of the Biltir board of directors, will sit on a panel discussing risk culture and the changing role of the CRO.

The event, which attracts CROs, chief actuaries and regulators, is being held at the Hamilton Princess & Beach Club.