The Bermuda Enterprise Growth Company (BDA) is partnering with the island’s fast-growing life and annuity re/insurance coverage sector to advertise a powerful presence on the trade’s largest US convention this spring.
For the primary time, the BDA will crew with Bermuda Worldwide Lengthy Time period Insurers & Reinsurers (BILTIR) to steer an trade delegation to the 13th annual ReFocus occasion. Co-hosted by the American Council of Life Insurers (ACLI) and the Society of Actuaries (SOA), the convention—being held March 10–13 this yr in Las Vegas—attracts greater than 700 attendees yearly and options senior trade audio system, topical panels, and networking alternatives for decision-makers throughout the worldwide long-term re/insurance coverage sector.
“With Bermuda’s management place inside this trade, it's paramount to have a powerful presence at ReFocus to proceed elevating our profile and attracting additional curiosity from potential shoppers,” mentioned Jereme Ramsay, Enterprise Growth Supervisor for Threat Options on the BDA. “The content material and viewers supply a pure match for Bermuda-based carriers and repair suppliers, and we’re wanting ahead to attending and collaborating in that dialogue.”
Lengthy-term insurance coverage and reinsurance, which assist protects customers from underfunded retirement years and unsupported dependents, is a rising market globally. In Bermuda, the sector—comprising a various group of firms with greater than $300 billion in whole belongings—can also be increasing, with a complete of 11 new life re/insurers licensed by November final yr, with extra newcomers anticipated in statistics launched for December and Q1 2019. BILTIR acts as an advocacy group, representing 58 member firms presently, of which 42 are licensed insurers and reinsurers, and the rest are supporting service suppliers.
“The ReFocus convention has grown in attendance since its inception again in 2006, and we're on tempo to broaden even additional,” mentioned BILTIR Senior Advisor Ronnie Klein, a founding father of ReFocus. “It appears solely pure nation with such a excessive focus of insurance coverage executives like Bermuda ought to have a powerful presence at this occasion.”
Some 50 Bermuda-based trade consultants and repair suppliers, together with BILTIR members, plan to attend the 2019 convention. For the primary time, the BDA and BILTIR will co-host a “Bermuda Lounge” by the occasion and a Bermuda networking lunch on Monday, March 11.
Senior executives from insurance coverage teams with a Bermuda presence, together with Authorized & Basic, International Atlantic, Athene Re, Wilton Re and Hannover Re, will even be featured on the programme—highlighting the rising significance of Bermuda within the life insurance coverage market. Examples embrace Invoice Wheeler, President of Athene Holding, a panellist in a Monday session on mergers and acquisitions, and Thomas Olunloyo, CEO of L&G Re, who will average a Brexit dialogue the next day.
“We’re delighted to associate with the BDA at this yr’s occasion,” mentioned Sylvia Oliveira, CEO of Wilton Re Bermuda, and a BILTIR Director. “Bermuda firms have attended ReFocus yearly, however to have a devoted jurisdictional presence there takes it to a brand new stage. We’re wanting ahead to showcasing our market, its revered regulation and pool of expertise, and our trade’s optimistic world influence.”
Scorching trade subjects on the ReFocus 2019 agenda embrace Brexit and world commerce obstacles, the opioid disaster, AI, blockchain and insurtech, uninsured gaps, and the influence of M&A tendencies.
The heightened Bermuda presence at this yr’s ReFocus occasion additionally goals to focus on BILTIR’s personal annual life and annuity convention—scheduled for Thursday, September 19, 2019 on the Fairmont Southampton. Final yr, the BILTIR occasion attracted a document 300 attendees.
“We hope the Bermuda Lounge will appeal to ReFocus attendees to our Bermuda convention in September, which some have dubbed the ‘ReFocus of the East’,” mentioned Oliveira. “Bermuda is a perfect venue for insurers from the East Coast and the UK to collect and study extra concerning the power of our jurisdiction.”
MEDIA CONTACT:
Rosemary Jones
Head of Communications & Advertising and marketing
[email protected]
441 278-6558
441 337-4696
CONNECTING BUSINESS
The BDA encourages direct funding and helps firms begin up, re-locate or broaden their operations in our premier jurisdiction. An unbiased, public-private partnership, we join you to trade professionals, regulatory officers, and key contacts within the Bermuda authorities to help domicile selections. Our objective? To make doing enterprise in Bermuda clean and useful.
Supply: Bermuda Enterprise Growth Company