Log In

Reset Password

Premier supports Bermuda’s efforts at RIMS

First Prev 1 2 3 4 Next Last

Bermuda’s visibility as a leading jurisdiction at the Risk and Insurance Management Society (RIMS) conference in Los Angeles has been further enhanced by the presence of Premier Craig Cannonier, Finance Minister Bob Richards and Economic Development Minister Grant Gibbons.

The trio of high-ranking politicians mingled with attendees at the annual conference, which is generally viewed as the single most important global gathering for the insurance and reinsurance industry.

Thousands of industry representatives are attending the multi-day event at the Los Angeles Conference Center, and Bermuda has made itself highly visible with a mock two-storey Bermuda cottage booth in the conference hall that proclaims the Island as ‘The ‘Risk Capital of the World’.

“It’s fantastic and it’s getting a lot of attention,” said Mr Cannonier as he toured the conference and visited the booth yesterday.

The Premier noted a lot of enthusiasm being directed towards Bermuda thanks in part to its status as a jurisdiction with an impressive insurance and reinsurance sector and a leading domicile of choice for insurance-linked securities.

The Island’s sturdy legal and regulatory environment also help, and Mr Cannonier was pleased to see a number of senior representatives from the Bermuda Monetary Authority (BMA) are part of the Bermuda contingent at RIMS.

“We really have to make sure the world is aware of the business we are involved in and that’s why we took the opportunity to be here and show that we are here to do business. We can’t afford not to be here,” he said.

The Premier and Ministers were kept busy with media interviews as they toured the conference. The three politicians were also expected to attend a Bermuda-hosted cocktail reception yesterday evening. “Several hundred people will be attending and we will be meeting many of them one-on-one,” said Mr Cannonier.

Bermuda’s new Government has been one of the talking points for the Island at RIMS, as well as the surge in re/insurance set-ups in Bermuda during the first quarter of 2013, with 13 incorprations almost double the seven that incorporated during the same period in 2012.

Attendees at RIMs include potential clients looking to place insurance and reinsurance business. Senior executives from Bermuda companies are attending to meet exisiting and potential new clients. Many of the executives have volunteered to assist at the Bermuda booth, sharing information on what Bermuda has to offer.

Mr Cannonier said Bermuda has a reputation as being the domicile of choice and, with the BMA, is also pushing the message that it has well-regarded regulation in place.

Before leaving the Island’s booth, the Premier added: “I can’t say enough about the 100 volunteers here making Bermuda’s booth one of the number one stops.”

RIMS 2013 concludes today.

showing support: Economic Development Minister Grant Gibbons, Premier Craig Cannonier and Finance Minister Bob Richards at the Los Angeles Conference Center for RIMS.
Premier Craig Cannonier, right, talks to a Lloyd's of London representative at the RIMS conference in Los Angeles. In the background are Economic Development Minister Grant Gibbons and Finance Minister Bob Richards.
Premier Craig Cannonier is attending the RIMS conference
On site: The two-storey mock Bermuda cottage at RIMS.

You must be Registered or to post comment or to vote.

Published April 24, 2013 at 9:00 am (Updated April 23, 2013 at 9:03 pm)

Premier supports Bermuda’s efforts at RIMS

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon