Bermuda roadshow continues in London
The Government and the Bermuda Business Development Agency will take their promotional tour to Egypt’s luxury resort town of Sharm el-Sheikh, on the southern tip of the Sinai Peninsula, later this year.
It is there in November that the Bermuda delegation will attend the 27th session of the Conference of the Parties (COP 27), in the United Nations Framework Convention on Climate Change.
This week the travelling road show is in London. David Burt, the Premier and Minister of Finance, is meeting with UK Government officials including the Department of Treasury to discuss matters regarding Bermuda’s financial services sector.
He is with Cheryl Lister, the financial secretary and representatives from the Bermuda Business Development Agency, the Association for Bermuda Insurers & Reinsurers and the Association of Bermuda International Companies.
The Premier is also holding business development meetings alongside the BDA, and taking part in interviews with British media as the parties continue to promote Bermuda’s growing fintech and climate risk finance sectors and Bermuda’s continued leadership in insurance and reinsurance.
Mr Burt said: “The purpose of this trip to London is to continue to make connections with our counterparts in the UK government to ensure the stability and growth of Bermuda’s insurance and reinsurance sector.
“It is also an opportunity to highlight the strength and robustness of the Bermuda market as well as our development in fintech, and climate risk finance which continues to gain momentum.”
The Premier described as an unqualified success, his earlier meetings at Consensus 2022 in Austin, Texas, where he and representatives from the BDA and the Bermuda Monetary Authority engaged with business leaders to promote Bermuda’s fintech industry.
David Hart, BDA CEO, reportedly told a gathering of The Bermuda Society in London this week that Bermuda can be at the cutting edge of a wide range of climate finance initiatives that include re/insurance of all types.
He said that the BDA had been at last year’s COP26 climate change summit in the UK and had been able to make a case for Bermuda’s place in leading those financial initiatives.
The BDA will be involved in a number of trade missions this year, visiting Toronto and Singapore, before going to the COP27 climate change conference in Egypt.
This is the formal meeting of the UNFCCC parties or Conference of the Parties, COP (7-18 November 2022) to assess progress in dealing with climate change.
On the coastal strip along the Red Sea, the city and holiday resort of Sharm el-Sheikh is the administrative hub of Egypt's South Sinai Governorate, and a significant centre for tourism in Egypt, while also attracting many international conferences and diplomatic meetings.
Dubbed “The City of Peace” by former Egyptian president Hosni Mubarak, the city name is commonly shortened to "Sharm” among Egyptians, and has a rich history.