Executives from the reinsurance industry, editors from the Financial Times and the Premier will share their views on stage at the PwC Insurance Summit this week.

This year’s substantial catastrophe losses and the evolution of insurtech will be two of the major topics under discussion.

More than 200 industry executives and professionals are registered to attend Thursday’s event at the Hamilton Princess and Beach Club.

The conference takes place against a backdrop of global industry consolidation and an active period for catastrophic events around the world, most notably in Japan and the US. This month’s Hurricane Michael is estimated to have caused insured losses of around $8 billion in Florida and Georgia.

The Association of Bermuda Insurers and Reinsurers estimates that roughly 30 per cent of the losses related to hurricanes Florence and Michael will be covered by Bermuda re/insurers.

Moderated by PwC insurance leaders and Financial Times editors, the heavy catastrophe losses will be a topic of conversation in panels throughout the day, including Bermuda’s leading role in providing reinsurance cover to the US.

The panellists will also tackle the rise of insurtech, with David Burt, the Premier, to discuss how Bermuda is fostering innovation in a conversation with Robert Armstrong, US finance editor at the Financial Times.

The summit will hear from over a dozen top global and Bermuda re/insurance executives on the current supply and demand dynamics in the global re/insurance sector, alternative capital, and the potential of partnerships with insurtech firms to secure future growth and avoid disruption.

Craig Swan, managing director, supervision at the Bermuda Monetary Authority, will discuss the establishment of an insurance regulatory sandbox and innovation hub, and how the BMA plans to approach the regulation of insurtech.

Sean Moran, interim CEO of the Bermuda Business Development Agency, said: “As a longtime centre of innovation, Bermuda is helping solve some of the world’s biggest challenges, from blockchain disruption to global access to insurance protection — so we’re delighted prominent media can witness our energy and ingenuity first-hand.”

Arthur Wightman, PwC Bermuda leader, said: “According to PwC’s 20th CEO Survey, a higher percentage of insurance CEOs than those in any other industry are extremely concerned about the threats to their growth prospects from overregulation, the speed of technological change, changing customer behaviour and competition from new market entrants.

“In short, the entire insurance business model is being disrupted. With our theme this year being strategies for success in the new reality, we will hear perspectives on how insurers and reinsurers can make disruption work to their advantage and ways the industry is proactively confronting these challenges.”

Registration will remain open through November 1, the day of the conference. For more information, visit https://live.ft.com/Events/2018/PwC-Insurance-Summit