New venue for ILS Convergence conference
The registration for a major conference on insurance-linked securities has opened.
And the ILS Convergence conference, has a new venue — the renovated Trudeau ballroom and terrace at the Hamilton Princess.
Greg Wojciechowski, the ILS Bermuda chairman and CEO of the Bermuda Stock Exchange, said: “The ILS Bermuda steering committee is focusing on continuing to enhance the Bermuda Convergence networking event while developing additional business development initiatives domestically and abroad.
“The members of the ILS Bermuda team are looking forward to welcoming our industry friends and colleagues back to Bermuda to join us in November.
“We are working on a schedule that offers compelling information exchange, a platform for business development networking and social events designed for continued networking.
“We believe there is no shortage of interesting topics to discuss at the upcoming event.”
Last year's event, held at Pier 6, on Hamilton's Front Street, attracted more than 300 delegates from a total of 15 countries.
Kathleen Faries, head of Bermuda for Tokio Millennium Re, and ILS Bermuda deputy chairman, added that last year's event had featured a series of short talks modelled on the TEDx formula to discuss sourcing, valuing and securitising risk.
She said: “We are working on another great line up of our Bermuda Shorts for 2016 that will be a valuable source of insight and education on a variety of topics relevant to the industry.”
The Bermuda Stock Exchange's total volume of insurance-linked listings, including cat bonds, ILS and reinsurance-linked investment funds, is worth more than $19 billion, which is at least 70 per cent of the worldwide issuance.
Last year the Bermuda Monetary Authority reported 64 new insurance and reinsurance entities registered in Bermuda, along with 20 new special purpose vehicles.
Bermuda-based special purpose vehicles have issued nearly 120 ILS bonds since 2010, and the BMA logged 157 special purpose vehicles at the end of last year, while there were 88 new funds in asset management.
Mr Wojciechowski said: “The success of previous Bermuda Convergence events speak to the strong and collaborative relationship those in Bermuda's insurance and particularly the ILS space have developed with the market domestically and internationally.
“ILS Bermuda is proud and delighted to have done its part to ensure that Bermuda has become and remains a centre of excellence for the creation, servicing and listing of ILS transactions.
“Bermuda's prominent position in supporting the ILS asset class has clearly contributed to the continued development of the sector.
“As competition develops in this space, I believe that Bermuda's unique attributes will continue to influence and shape the evolution of the sector.”