The Association of Bermuda Insurers and Reinsurers and EY have reaffirmed their headline sponsorship of the 2024 Bermuda Risk Summit.

Presented by the Bermuda Business Development Agency, the event will be held from March 13-15 at the Hamilton Princess & Beach Club.

David Hart, BDA chief executive, said: “It is an event that brings so much value to Bermuda’s globally significant risk and reinsurance market, including its strategic positioning on the calendar in front of the midyear renewal season, as well as C-suite networking opportunities and being able to hear first-hand from international thought leaders.”

John Huff, the president and CEO of Abir, said: “Abir’s aim in supporting this event is to provide our members and stakeholders with ideal opportunities to meet new and existing clients, to share ideas and best practices in person and to foster customer-driven solutions to close the global protection gap.”

Craig Redcliffe, partner and regional insurance leader at EY, said: “Over the last two years, we’ve seen the summit go from strength to strength, and we look forward to once again leveraging our global networks, engaging with industry participants and collaborating with the BDA to showcase all that Bermuda’s leading global reinsurance market has to offer.”

The organisation said the immediate economic impact of the 2023 Bermuda Risk Summit, which had a total of 450 attendees (more than 150 from overseas), including lodging, transportation, food and beverage, retail and recreation was estimated at $1.8 million, and supported 266 jobs.

It added that this figure included approximately 100-plus additional visitors who flew to Bermuda for business meetings in advance of the June 1 renewal season, as well as ancillary events taking place in the week around the event.

A BDA spokesman said: “Organising the BDA’s signature events aligns with the ‘local and international business retention’ and ‘business attraction and investment promotion’ strategic priorities outlined in Bermuda’s Economic Development Strategy.”