Premier joins Abir and Lloyd’s in London round table
Leaders from the Bermuda and Lloyd’s reinsurance market joined David Burt, the Premier and finance minister, in a round table discussion in London.
The Association of Bermuda Insurers and Reinsurers organised the event, which is on the schedule for a Bermuda Business Development Agency delegation, led by Mr Burt, visiting the United Kingdom this week for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services industry.
The round table focused on the strong working relationship between the two reinsurance hubs. Abir member companies supply substantial capacity for Lloyd’s of London Syndicates and many Bermuda-based global reinsurers have a presence in the Lloyd’s market. More than 8,000 people are employed in the UK by Abir members.
Mr Burt said: “Bermuda’s international reinsurance industry is a substantial contributor to our domestic economy and a shining example of Bermuda’s value to the world as a leading provider of risk solutions.
“The Bermuda market’s long-established working relationship with Lloyd’s speaks to the island’s international relevance and I look forward to engaging with industry leaders as we work towards a continuation of this productive partnership.”
Mr Burt’s delegation included: Cheryl-Ann Lister, acting financial secretary; Sir Andrew Large, chair, Bermuda Financial Policy Council; Kimberley Durrant, UK representative for Bermuda Government; Brandon Sousa, Bermuda Government London office; and Jordan Scott-Furtado, assistant to the Premier.
The Lloyd’s of London leadership was represented at the round table by chairman, Bruce Carnegie-Brown and chief executive officer, John Neal.
Industry executives attending the meeting included: Stephen Catlin, founder and CEO, Convex and past chair of Abir; Hugh Sturgess, CEO, Arch Insurance International (on behalf of Marc Grandisson, Abir chair); Kathleen Reardon, CEO, Hiscox Re; Hugh Brennan, CEO, RenRe Syndicate Management; Adrean Daws, CEO, Hamilton International; Mitch Blaser, co-chief executive officer, Mosaic Insurance; Christian Dunleavy, group chief underwriting officer, Aspen; Mark Cloutier, chairman and CEO, Aspen; Olly Reeves, group chief risk officer, Mosaic Insurance; and John Huff, president and CEO, Abir.
“As two leading, global reinsurance markets, Lloyd’s and Bermuda have a shared interest in building an even stronger insurance industry to provide insurance and risk solutions to our clients around the world,” Mr Carnegie-Brown said.
“We’re privileged to have had the opportunity to host the Premier and our friends from Bermuda at Lloyd’s. It’s clear that by focusing on issues of mutual interest, there’s substantial scope to invest further in our existing partnership.”
Mr Huff said: “We are pleased to welcome Premier Burt, John Neal, and Bruce Carnegie-Brown to the table for talks with Abir member company executives as we look to further strengthen one of Bermuda’s most significant trading relationships. Consumers around the world benefit from the synergies between Bermuda leading insurers and reinsurers and the Lloyd’s of London market. This relevance of our mutually beneficial working relationship has never been greater, as we strive to find solutions to the world’s largest and most complex risks, such as climate, cyber and closing the protection gap.”