At the annual conference of the American Association of Managing General Agents (AAMGA) this week, some of the 1,400 delegates are identifying new business opportunities and relationships that could bring a wave of new insurance business to Bermuda market companies.

Representatives of the Bermuda Insurance Development Council were there to help association members understand the available capacity on the Island.

Managing General Agents, or MGAs, are a conduit for more business for Bermuda's insurance market. The 79th annual meeting is being held at the plush Orlando Grande Lakes Resort, in Orlando, Florida until tomorrow.

AAMGA executive director Bernd G. Heinze said: "Members of the AAMGA have this year become re-educated in the benefits and opportunities of the Bermuda Insurance Marketplace.

"The intellectual capital, expertise and capacity offered by the available markets allow our members new alternatives to expand their services to their network of domestic retail producers.

"We are committed to continuing our discussions and meetings to foster existing relationships and develop new business partnerships."

IDC executive and president of Independent Management Ltd., Peter Strong, said: "The IDC has been identifying how the Bermuda Insurance Market interconnects with the various segments of the international insurance and reinsurance business and taking an active role in ensuring that relationships are maintained, and new ones are developed.

"Last year, we identified the AAMGA annual conference as an event to which we should give more attention to, and in which we should be more active.

"As a result, Bermuda has its largest representation at this event to date, and with that increased visibility, are enjoying more interest in the quality insurance and reinsurance products that we provide."

The AAMGA board, and its Under Forty Organisation (UFO), have met separately in Bermuda over the last year, heightening their appreciation of what the Bermuda Market has to offer. The leadership has just announced that more meetings are planned in Bermuda this August at the Fairmont Southampton Hotel, while the board of directors meeting for the second straight year, will be held in Bermuda in February.

The association has also posted the latest version of Bermuda Market Solutions on their website for the benefit of their membership. The document, produced by the IDC, details the lines of business written on the Island, and the companies that write them.