The Bermuda branch of the Insurance and Reinsurance Legacy Association will host its first conference later this month to shine a spotlight on the island’s growing role in the global legacy insurance and reinsurance market.

The first-ever IRLA Bermuda Conference will take place on January 27 at the Hamilton Princess & Beach Club, bringing together regulators, industry executives and practitioners from across jurisdictions.

IRLA said the event builds on the establishment of its Bermuda branch in 2024 and is designed to strengthen collaboration, education and advocacy within the legacy sector. The conference theme, “Bermuda and Beyond: Shaping the Future of Retrospective Solutions”, points to the island’s ambition to stay at the forefront of run-off and retrospective risk transfer.

Sessions will focus on market dynamics such as United States casualty reserve expectations, inflationary pressures and rate adequacy, alongside case studies illustrating the use of legacy transactions. Panel discussions will also examine the role of artificial intelligence in underwriting, claims management and compliance, as well as regulatory developments affecting the sector.

Sarah Ruberry, chairwoman of the IRLA Bermuda branch and group chief compliance officer at run-off specialist firm Enstar, said the conference would provide a platform for forward-looking discussion.

“The IRLA Bermuda Conference builds on the strong and growing legacy community on the island,” she said. “It brings together industry leaders, regulators and practitioners to share insight, address common challenges and shape the future of the legacy market.”

The conference is sponsored by Bermudian-based run-off specialists Enstar Group, Compre Group and Riverstone International.

Bermuda has become a central hub for legacy insurance, with firms on the island playing a major role in a global non-life run-off market now estimated at about $1.1 trillion, according to ratings agency AM Best. A recent AM Best report showed the sector has grown from a niche activity into a core strategic tool for insurers who want to optimise capital, simplify or refocus on their core business. Specialist run-off firms, many with a strong Bermuda presence, are increasingly concentrated at the top end of the market.

IRLA said the conference has already attracted interest from regulators, brokers, mergers and acquisitions advisers and Bermudian-based professional services firms.

Registration is open, with discounted rates available for IRLA and Association of Insurance and Reinsurance Run-Off Companies members.

• For more information or to register, e-mail registrations@irla-international.com