News Release: HAMILTON, Bermuda – The Bermuda Business Development Agency (BDA) looks forward to welcoming the heads of the National Association of Insurance Commissioners (NAIC) and US Department of Treasury, Federal Insurance Office (FIO) to the third annual Bermuda Risk Summit this week.

The Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY, will take place at the Hamilton Princess & Beach Club from March 13-15.

David Hart, CEO, BDA said: “We are extremely grateful for the level of support we have received from our industry partners and overseas friends. Bermuda’s largest and closest and trading partner remains the US, and we are honoured that no fewer than five NAIC Commissioners (including Commissioner Andrew Mais, NAIC President and Commissioner, Connecticut Insurance Department) and Steven Seitz, Director, US Department of Treasury, Federal Insurance Office are speaking at our event.

“As a sixth generation Floridian, I am so pleased to welcome back Commissioner Mike Yaworsky, Florida Office of Insurance Regulation to the Risk Summit,” Mr. Hart said. “And since nothing compares to experiencing Bermuda’s globally significant risk market firsthand in person, I am excited to welcome the Honorable Tom Fabricio, from the Florida House of Representatives to Bermuda as a BDA speaker for the first time.”

David Hart, CEO of the Bermuda Business Development Agency (Photograph supplied)

Keynotes will be provided by Bermuda’s Premier David Burt and Marc Grandisson, CEO, Arch Capital Group on day one, Soraya Wright, Global Head of Corporate Risk and Claims, Amazon and Patrick Tannock, CEO of AXA XL Insurance in Bermuda on day two, and Frank Schmid, Chief Technology Officer, Gen Re, as well as, Steven Seitz, Director, US Department of Treasury, Federal Insurance Office on day three.

A panel of Bermuda reinsurance CEOs will offer a unique lens into optimising capital deployment, risk management, and the dynamic forces shaping the industry’s future during a panel entitled, ‘Putting Capital to Work: A View From the Top.’ Other panels include ‘Market View: Global Regulators,’ ‘Lloyd’s – Bermuda: A Shared Perspective,’‘Legacy Redefined,’ and ‘Securing Tomorrow: Developments in Cyber Risk Strategy.’

A full agenda is available online. We are close to reaching capacity. Register now.

In addition to innovative content, registration includes C-suite networking opportunities each day, including an opening reception sponsored by SS&C Technologies, and a Friday networking happy hour, sponsored by BermudAir. We also encourage attendees to take advantage of the BDA Connect app and book 1-on-1 networking meetings directly with other delegates. For the best experience, download BDA Connect on your phone via the App Store, or Google Play.

The BDA thanks our headline partners ABIR and EY, our gold sponsors AM Best, and SS&C Technologies, our silver sponsors Kirkland & Ellis and KBRA, our bronze sponsors Demotech, Docosoft, KPMG, Meenan PA and Teneo and supporting sponsors Advantage Go, Aon, Rein4ce and Walkers. Our airline partner is BermudAir and our spirits partner is Gosling’s.

All registered delegates qualify to receive 20 percent off flights on our official airline partner BermudAir, which flies to Bermuda from Westchester, NY, Fort Lauderdale, Florida, and Boston, Mass.

The immediate economic impact of the 2023 Bermuda Risk Summit, which had a total of 450 attendees (over 150 from overseas) including lodging, transportation, food and beverage, retail and recreation was estimated at $1.8 million, and supported 266 jobs. Far more significant were the long-term economic benefits brought about by the approximately 100+ additional visitors who flew to Bermuda for business meetings during the week of the summit.

Organising the BDA’s signature events aligns with the ‘Local and International Business Retention’ and ‘Business Attraction and Investment Promotion’ strategic priorities outlined in Bermuda’s Economic Development Strategy.