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IB Week focuses on industry role in the community

Patrick Tannock, chairman of Abic and CEO of Axa XL’s Bermuda insurance operations (File photograph)

Bermuda’s international business sector is being highlighted this week for its contributions to the island.

As part of the annual IB Week, the Association of Bermuda International Companies has launched a digital media campaign to promote career opportunities for young Bermudians in the sector.

A spokeswoman said the campaign includes a video featuring Bermudians at various stages of their IB careers, a series of advertisements on social media and interviews on the radio.

“IB’s role as a leading driver of the economy, a provider of scholarships and internships, and a supporter of community activities is also being highlighted through September 29,” the spokeswoman added.

IB Week was launched as part of a partnership between Abic, the Bermuda Business Development Agency, the Association of Bermuda Insurers and Reinsurers and Bermuda International Long Term Insurers and Reinsurers.

Patrick Tannock, Abic chairman and CEO of Axa XL’s Bermuda insurance operations, said the goal of IB week was to “demystify” IB and increase awareness of how it benefits the island and its people.

“Attracting more Bermudians into the IB talent pool has long been a goal of Abic,” Mr Tannock said.

“Education is key to broadening access and we are proud that, with the support of our member companies, the Abic Education Awards have provided financial support over the past 46 years to more than 740 Bermudian students, many of whom occupy prominent roles in IB today.

“With the escalation of global challenges, in order to remain competitive, Bermuda must provide an environment in which international business gets what it needs to thrive.

“Likewise, we in international business must be respectful of Bermuda’s culture as well as the aspirations and values of the Bermuda people. We’re all in this together.”

Events began this week with Abir hosting its Abir@30 Lunch Forum celebrating the organisation’s 30th anniversary.

This year’s IB Week will include the signing of a memorandum of understanding between Abir and the Association of British Insurers to strengthen their partnership and work together on matters of mutual interest.

Meanwhile members of Bermuda’s insurance and reinsurance sector will take part in the Dive In Festival 2023, one of the world’s largest diversity, equity and inclusion events.

Pina Albo, chair of Abir and CEO of Hamilton Insurance Group, said: “Abir has a 30-year track record of commitment to Bermuda.

“Over the past decade our member companies have contributed $8.5 billion to the Bermuda economy and Bermudians represent nearly 70 per cent of the Abir membership workforce.

“Through internships, scholarships and our partnership with Bermuda College, we continue to build a strong pipeline of local talent.”

Natasha Scotland Courcy, chair of Biltir, added: “Our industry is committed to Bermuda as a jurisdiction at a crucial time where we try to help address the global challenges posed by the pension protection gap.

“We are proud that Biltir members provide career opportunities for Bermudians, internships, scholarships, volunteering and charitable donations, as we continue to forge a strong relationship with the community.”

Michael Hanson, chair of the BDA, said: “The growth of IB and Bermuda’s economy go hand in hand.

“The global corporations who call Bermuda home contribute greatly to the prosperity of the community as a whole, through employment, buying goods and services from local businesses and donating generously to good causes.

“With world-leading industries on our doorstep, Bermuda’s young people have opportunities to pursue their aspirations and fulfil their potential.”

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Published September 27, 2023 at 2:33 pm (Updated September 27, 2023 at 8:45 pm)

IB Week focuses on industry role in the community

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