Premier Alex Scott told more than 500 guests at a special reception in Hawaii on Tuesday night that he?s committed to cultivating the ?solid? relationship that exists between the public and private sectors.

Mr. Scott has been in Hawaii since last week-end leading a Government delegation taking part in events during the North American insurance market?s biggest yearly gathering, the Risk and Insurance Management Society Inc. conference. Mr. Scott?s wife, Olga, was at his side as he greeted about 535 guests who turned out at Honolulu?s oldest hotel, the Sheraton Moana Surfrider, for the reception, an annual tradition during RIMS week.

?As proud architects of success, the Government and private sector of Bermuda are committed to continuing to work together,? he told the gathering of brokers, insurers, risk managers and captive owners who are in Honolulu for RIMS.

The Premier?s annual trip to the RIMS conference underscores that collaboration, he said.

Also attending the reception was Finance Minister Paula Cox, who traditionally accompanies the Premier on his annual visit to the conference, as well as other Government and regulatory officials.

Mr. Scott said Bermuda had grown into a leading insurance market because its intellectual capital, sound infrastructure and prime geographic location set it apart.

Bermuda is the leading captive domicile with in excess of 1,000 of the self-insurance vehicles based on the Island, as well being home to more than 40 major insurers or reinsures. Between them, the sector has about $100 billion in capital.

Mr. Scott told guests at the reception overlooking Waikiki Beach that the island?s stature as a captive and large commercial market was another benefit.

?Having such a significant commercial reinsurance market gives captive owners access to an open-market underwriting capacity not found in any other domicile,? he said.

And he acknowledged the presence of the companies that provide services to the sector, pointing out that Philip Butterfield, chief executive of the Bank of Bermuda was at the reception.

?Bermuda?s banking industry draws on more than a century of experience to provide quality trust and investment management services to individual and corporate clients. And the entry of HSBC gives us global reach directly from our shores.?

Butterfield Bank was also represented at RIMS this week, and a number of representatives from the Island?s investment, law and accounting firms were also in Honolulu providing information to those interested in the Bermuda market.

?We maintain that the Bermuda insurance industry continues to be one of the brightest and most creative amongst its peers,? Mr. Scott said, adding: ?The industry perseveres in an admirably mature and reserved fashion to ensure provision of the quality products and services our partners continue to demand and I?m happy to say they receive.?