Bermuda Business Development Agency (BDA): Bermuda's global business sector showcased in London

HAMILTON, Bermuda, 2017-11-28 23:47 CET (GLOBE NEWSWIRE) --
Leaders of Bermuda's global business sector highlighted the breadth, advantages
and significant economic impact of the island's financial market during an
awareness-raising cross-industry forum held in London today by the Bermuda
Business Development Agency (BDA). 

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Premier the Hon David Burt officially opened the day-long forum after meeting
with Britain's Prime Minister Theresa May. The Premier is in the city for the
BDA event as well as annual Joint Ministerial Council (JMC) meetings and
various Parliamentary events, followed by planned visits to Paris and Berlin
later in the week. 

"Our government supports events like this BDA forum, because it's important to
engage people from around the world to help accomplish our goals growing
Bermuda's economy," said the Premier. "Bermuda has a very powerful story to
tell as a well-regarded international financial centre known for robust
regulation and leadership on transparency and compliance. We believe this is an
excellent platform to talk about Bermuda's role in supporting global economies.
It's important, because we trade on that reputation." 

The forum attracted close to 250 delegates, encompassing a wide range of
industries, to ME London Hotel in the city's West End. Featuring top regulatory
and industry representatives in discussion panels, the agenda covered
hot-button topics such as Brexit and the recent theft of "Paradise Papers"
law-firm data, while emphasising the many elements that differentiate
Bermuda-from the island's world-respected regulator and access to capital to
its deep pool of valuable industry expertise. Speakers also examined the varied
sectors that make Bermuda a centre of excellence, including re/insurance,
captive insurance and insurance-linked securities, to asset management, family
offices, and trust and private-client business. 

"The forum has provided us with an opportunity to tell the Bermuda story at a
critical juncture when the European spotlight is on international financial
centres," said BDA CEO Ross Webber. "Our jurisdiction has a compelling message,
and people are beginning to understand that Bermuda really is different." 

Forum panels in the morning covered risk-industry topics-from insurance trends
and the outlook for 2018 to why Bermuda remains "the World's Risk Capital."
Afternoon sessions focused on the rapidly-growing convergence of re/insurance
and asset management, then moved to examine high-net-worth services, family
governance and charitable trust structuring. 

The day's line-up featured 25 Bermuda executives, including Bermuda Monetary
Authority CEO Jeremy Cox; Bermuda Stock Exchange CEO Greg Wojciechowski;
Association of Bermuda Insurers & Reinsurers President Brad Kading; Grainne
Richmond, President of the Bermuda Insurance Management Association (BIMA); and
Keith Robinson, Chairman of the Society of Trust & Estate Practitioners (STEP)
Bermuda. 

Keynote speaker, Deputy Chair of Lloyd's and Hiscox Chair Robert Childs,
described Bermuda's speed to market and detailed the many advantages Bermuda
had lent to Hiscox. 

"The forum gathered government, industry and regulatory experience to give
attendees an opportunity to be exposed to the Bermuda market," said BMA CEO
Jeremy Cox. "That kind of collaboration is part of what has made Bermuda
successful. Certainly, given the times we're in, that's important-because
there's been a lot of misinformation in the media about our jurisdiction. This
has given us an opportunity to set the record straight." 

Other Bermuda-based executive participants included Mark Allitt of KPMG
Bermuda; Sarah Demerling of Estera; BDA former chair and Hiscox Director
Caroline Foulger; David Gibbons of PwC Bermuda; Ed Granski for Meritus Trust;
Randall Krebs of Harbour International Trust Company; BDA Board member Jessel
Mendes, of EY Bermuda; Michael Neff of Butterfield Bank; Michael Parrish of
Marsh Bermuda; Peter Pearman of Conyers Dill & Pearman; Brian Quinn of Granite
Management; Fozeia Rana-Fahy of MJM; Aon CEO Joe Rego; Andrew Smith of Qatar
Re; Ariane West of Taylors in association with Walkers; Arthur Wightman of PwC
Bermuda; Kim Willey of ASW Law; and Akilah Wilson of the BMA. 

"We were very impressed by the support not just from Bermuda industry but from
friends of Bermuda here in the UK," Webber added. "We had over 20 different
companies represented at our forum; that's a marvellous endorsement of the work
of the BDA, and a great reflection of the collaboration of the Bermuda market.
It's very rewarding to see Bermuda so well represented and supported." 

Overseas presenters included Richard Hay of Stikeman Elliott, London; Siân Hill
of KPMG UK; and Samantha Morgan of RMW Law. 

"It's about working relationships with the right people - we're not just
marketing the jurisdiction," said Jessel Mendes, a BDA Board member and Partner
at EY Bermuda. "We're really selling, and I think that's critical. It's about
working the relationships with the right people to bring business back to
Bermuda. Today, the focus is on the relationship, on business development, and
on sales. That's a new mindshift and I believe credit for it goes to the BDA." 

Tomorrow, a second industry event-"Beyond Convergence"-will also take place at
the hotel, focusing solely on insurance-linked securities. Organised by ILS
Bermuda to dovetail with today's forum, it will provide a more detailed look at
Bermuda's success in attracting capital, expertise and clients to the sphere of
alternative reinsurance. Featured speakers will include some of the same
industry executives, including the BSX's Wojciechowski, the BMA's Cox, ABIR's
Kading, and BDA's Webber. 

MEDIA CONTACT:
Rosemary Jones
Head of Communications & Marketing
[e-mail]
441 278-6558
441 337-4696

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