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ILS conference seeks to attract 300-plus

Ready to talk ILS: The networking space for the ILS Bermuda Convergence event, pictured in 2013

World leaders in the reinsurance business are set to descend on Bermuda for a major conference in November.

ILS Bermuda Convergence 2015 is expected to attract more than 300 delegates from around the globe.

Greg Wojciechowski, chief executive officer of the Bermuda Stock Exchange and chairman of the conference steering committee ILS Bermuda, said that registration for the event was now open.

Insurance-linked securities (ILS), where investors buy into the reinsurance market, is a major business for Bermuda.

Mr Wojciechowski added: “The ILS Bermuda team has been expanded this year with a view to continuing and enhancing the Bermuda Convergence networking event, while concentrating on developing additional business development initiatives domestically and abroad.”

He added: “The team is creating a schedule that will offer compelling information exchange, an event platform for business development networking and social events designed for continued networking.”

Mr Wojciechowski said that the UK’s announcement that it would go after a chunk of the ILS market dominated by Bermuda, which has experienced continued growth in the sector and the rush to takeovers and mergers as reinsurance firms adjust to changed market conditions and new capital in the market were all likely to figure high on the agenda for this year’s conference.

Adam Alvarez, of InsuranceLinked.com, said this year’s event would also feature a number of top speakers across the industry in short talks modelled on the TedX format.

He added: “As the industry evolves, ILS Bermuda will continue to be a leading source of information and analysis.”

First-quarter figures for ILS issues in Bermuda increased 27 per cent compared to the same period in 2014, making the most active first quarter on record.

Bermuda-domiciled firms increased the volume of ILS issued by 29 per cent in the first quarter of 2015 compared to the same three months the year before.

And the Bermuda Stock Exchange at the end of June saw total volume of insurance linked listings, including catastrophe bonds, ILS and reinsurance-linked investment funds pass the $17 billion mark — more than two-thirds of global issuance.

Mr Wojciechowski said: “Bermuda’s leadership position has strengthened in 2014 and the first half of 2015 through the success of the annual ILS Bermuda Convergence event that brought to the Island professionals looking to do business here. We look forward to welcoming them back for the third year of this innovative event.”

The Bermuda Business Development Agency (BDA) has signalled it will again be lead supporter of the event and Mr Wojciechowski added that “sponsorship and delegate interest is robust”.