Scores of Bermuda delegates at Riskworld, the Risk and Insurance Management Society Inc annual conference, have begun to return to the island from Chicago.

Their presence included an official delegation from Bermuda, led by Jason Hayward, the Minister of Economy and Labour.

The Bermuda Business Development Agency said representatives, who included those from the Government and the Association of Bermuda Insurers and Reinsurers, facilitated a series of strategic business development meetings with global reinsurance, insurance-linked securities and fintech stakeholders.

The BDA said it co-ordinated media interviews with key publications including AM Best TV, The Insurer, Business Insurance and Insurance Business to reinforce Bermuda’s value as a trusted jurisdiction in global risk transfer.

The BDA stated: “The delegation also hosted an invite-only Bermuda reception, which brought together senior decision-makers from across the risk and insurance space to network and learn more about Bermuda’s regulatory strength, innovation credentials and collaborative model of industry, regulator and government working in collaboration.”

Mr Hayward said: “As a dominant player in the global [insurance and] reinsurance market, Bermuda offers the regulatory strength, risk expertise and international connectivity that today’s industry demands.

“Our value proposition is built on trust, innovation and a longstanding commitment to resilience. Events like Riskworld reaffirm Bermuda’s relevance and reinforce our position as the jurisdiction of choice for capital, talent and world-class insurance solutions.”

David Parker, head of business development at the BDA, said: “Riskworld continues to be one of the most important global gatherings for reinsurance and risk professionals, and Bermuda’s presence this year was focused and intentional.

“We held targeted business development meetings and facilitated direct engagement with international media to reinforce the message that Bermuda remains a critical partner in global risk transfer.

“Whether it’s supporting US business and homeowners through wildfire coverage or fostering innovation in risk capital markets, Bermuda consistently shows up when it matters. The receptiveness to our model, where government, industry and regulator work in concert, was clear.”

John Huff, the chief executive of Abir, said: “The Association of Bermuda Insurers and Reinsurers is proud to add its decades-long track record of being there for Americans in their time of greatest need, as Abir members provide billions of dollars in claims to support the recovery from the January 2025 wildfires in Southern California.”

A recent Bermuda Monetary Authority report said the Bermuda market will pay nearly $10 billion in gross claims to US policyholders and cedants, as much as 30 per cent of estimated insured losses, after the fatalities, devastation of property and disruption of livelihoods caused by the most expensive wildfires in US history.

Mr Huff said the Bermuda contribution will be even higher, with added contributions likely from the island’s industry-leading ILS and catastrophe bond markets.