The Bermuda Business Development Agency is positioning Bermuda as a world capital for climate risk finance, based on the island’s international markets for re/insurance, Insurance-Linked Securities and financial services.

The agency takes a major step in that regard in June when they welcome climate thought leaders for the second annual Bermuda Climate Summit.

Many will be here to meet with Bermuda’s resident expertise on weather-related catastrophes and a financial services regulator in the Bermuda Monetary Authority that is focused on the importance of climate concerns.

The summit is being held in partnership with the global rating and research agency KBRA.

Jim Nadler, president & chief executive officer, KBRA hosts a session with Walter Roban, the Deputy Premier, discussing Bermuda’s strengths in climate risk finance, strong regulation and financial services.

Joshua Rosenberg, chief risk officer, Federal Reserve Bank of New York will give the keynote address.

Discussions will include the global chase to net zero, climate, Atlantic Hurricane Frequency and Severity, and Global Climate Risk.

Regulators from the US include Ricardo Lara, insurance commissioner, California Department of Insurance and Lori Wing-Heier, director, Alaska Division of Insurance, and National Association of Insurance Commissioners representative, Sustainable Insurance Forum.

Chlora Lindley-Myers, NAIC president and director of the Missouri Department of Commerce and Insurance will speak on a panel, The US Federal Flood Programme and the Re/Insurance Sector, moderated by Peter Giacone, global head of insurance, KBRA and including fellow panellists, Chris Brown – partner, Mindset and Andy Neal, managing director, Public Private Partnerships, Aon.

This year’s theme is Bermuda – Climate Central.

David Hart, Business Development Agency chief executive officer said leading climate experts across different fields will be here to engage on why climate is such an important topic. Potential overseas investors will share why Bermuda is the perfect place to develop climate risk finance solutions.

The BDA said it is grateful for the continued support of headline sponsor KBRA, as well as diamond sponsor Conduit Re, platinum sponsor Aon, gold sponsors Deloitte, Fidelis and Hub Culture, and silver sponsors Aeolus, Aspen, Axa XL, Belco, and KPMG.

The supporting sponsors are Butterfield and HSBC. Media partners are The Insurer, Insurance Insider and Bermuda: Re+ILS. Goslings is the spirits partner.

The Bermuda Business Development Agency June 26 presents Bermuda Climate Summit 2023, a full day of discussion on climate, climate risks and solutions to financing climate risks.