Posted August 7th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 7 August 2025 – The Bermuda Business Development Agency (BDA) today announced that the fifth annual Bermuda Risk Summit will take place from 9–11 March 2026 at the Hamilton Princess & Beach Club, with a significant strategic shift: the BDA will integrate its standalone Climate Summit into the Risk Summit platform, uniting two of its most high-impact event brands under one expanded global forum.

This evolution reflects the realities of today’s risk landscape, where environmental exposures, capital deployment, geopolitical pressure, and regulatory shifts are deeply interconnected. By embedding climate-related themes into the broader risk agenda, the BDA aims to sharpen focus, increase relevance, and deliver even greater value to the international (re)insurance, risk, life, and investment community.

“This is about being responsive to the market and deliberate in our positioning,” said Kendaree Burgess, Managing Director of the BDA. “We’re seeing clear signals that capital markets and corporate leaders want integrated solutions — not siloed conversations. This move reflects Bermuda’s strengths: we are expert, agile, and attuned to the geopolitical and economic forces shaping risk worldwide.”

Since its launch in 2022, the Bermuda Risk Summit has become a cornerstone of the global risk calendar, drawing senior leaders from across (re)insurance, ILS, life, capital markets, regulation, and advisory. As geopolitical risks and economic decoupling fuel uncertainty for global insurers, Bermuda continues to offer rare stability — underpinned by a robust regulatory framework and trusted jurisdictional standards.

Insurers and asset managers increasingly view Bermuda as a critical hub for capital innovation — including private credit, insurance-linked securities, and alternative structures such as sidecars — especially as inflationary pressure and rate volatility persist. The 2026 event will build on this momentum, offering a deeper lens on capital optimisation, resilience, and integrated risk strategy.

Early bird registration is now open at bda.bm/events/bermuda-risk-summit-2026, with a special rate of $495 available until 5 September 2025.

Organisations interested in sponsorship or speaking opportunities are invited to contact the BDA at bermudarisk@bda.bm.

About the BDA

The Bermuda Business Development Agency (BDA) is an independent public-private partnership dedicated to attracting and retaining business in Bermuda. Through strategic business development and collaboration with key stakeholders, the BDA promotes Bermuda as a premier investment jurisdiction.

Posted July 8th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 8 July 2025 – The Bermuda Business Development Agency (BDA) is proud to share that its Managing Director, Kendaree Burgess, has been named on Citywealth’s Top 100 International Powerwomen list for 2025. The annual list recognises the most influential women in the private wealth and financial services sectors – leaders who are not only shaping policy and strategy, but also mentoring the next generation and driving meaningful change in a traditionally male-dominated industry.

Curated by Citywealth’s editorial board and informed by peer nominations, market insight, and industry impact, the Top 100 International Powerwomen honours those who are, in Citywealth’s words, “rewriting the rules of wealth.” Burgess is recognised alongside an impressive cohort of global changemakers from leading firms including HSBC, Citi Private Bank, KPMG, IQ-EQ, and J.P. Morgan.

View the full list here.

“It’s an honour to be recognised among this group of accomplished women,” said Kendaree Burgess, Managing Director of the BDA. “This recognition speaks to the power of partnership, long-term value creation, and the importance of bringing diverse voices to global investment conversations. I’m especially pleased to represent Bermuda on this global stage and to play a part in raising our jurisdiction’s voice in international investment circles. I accept it on behalf of the many stakeholders who share in our mission to position Bermuda as a trusted, future-ready jurisdiction.”

Citywealth reaches a global audience of private clients, family offices, and international finance professionals.

Karen Jones, Citywealth Editor, added: “As Managing Director of the Bermuda Business Development Agency (BDA), Kendaree has continued and strengthened the agency’s mission and communication strategies to attract quality investment to the island. With a calm, collaborative leadership style, Kendaree has become a respected face of Bermuda in international markets—especially in areas like fintech, reinsurance, and private wealth. Her work helps ensure Bermuda remains both competitive and trusted on the world stage.”

Since the BDA’s formal transition to an Investment Promotion Agency (IPA) model, the organisation has sharpened its focus on investor services, data-driven strategy, and strategic sector growth. Over the past 12 months, Bermuda’s visibility across global wealth and risk sectors has expanded through high-level engagements, media recognition, and a growing pipeline of inward investment opportunities. As Bermuda continues to attract international interest, the BDA remains committed to facilitating investment that aligns with national priorities and delivers sustainable economic impact.

About the BDA

The Bermuda Business Development Agency (BDA) is an independent public-private partnership dedicated to attracting and retaining business in Bermuda. Through strategic business development and collaboration with key stakeholders, the BDA promotes Bermuda as a premier investment jurisdiction.

Posted June 3rd, 2025 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

Are you a creative, detail-oriented communicator with a passion for marketing and stakeholder engagement? The Bermuda Business Development Agency (BDA) is seeking a driven and adaptable Facilitator to support our marketing, communications, events, and stakeholder relations functions.

This is an exciting opportunity to gain hands-on experience across digital content, brand promotion, and event execution—while also playing a key role in supporting business development efforts with local industry stakeholders.

MAIN DUTIES AND RESPONSIBILITIES

Assist with maintaining and updating website content to ensure it remains accurate and up to date.

Assist in the day-to-day management of digital tools and applications that support the marketing team’s workflows, including email platforms, scheduling tools, and event apps.

Assist in scheduling and posting content across social media platforms, ensuring timely and engaging communication.

Provide coordination support for events, including logistics, supplier communication, and on-site setup.

Support basic graphic design needs such as resizing images and creating simple marketing materials using Canva or Adobe Creative Suite.

Maintain an organised inventory of promotional items and printed collateral; manage storage, tracking, and restocking as needed.

Provide general administrative and logistical support across marketing campaigns and initiatives.

Build and maintain strong relations with external stakeholders.

Participate in Industry Working Groups, aimed at understanding the needs of stakeholders and wider business climate in Bermuda.

Ensure Salesforce is accurate and up to date for all stakeholder relations.

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

Degree or diploma in marketing, communications, business, or a related field preferred.

1 to 3 years of experience in a marketing, communications, or events-related role.

Proficiency in Microsoft Office products (Word, Excel, PowerPoint) required.

Familiarity with digital tools (e.g. social media platforms, email marketing tools, Salesforce) and basic design platforms (e.g. Canva, Adobe Creative Suite) desirable.

Strong organisational skills with the ability to manage multiple priorities and meet deadlines.

Confident working independently and collaboratively within a team environment.

Proactive, adaptable, and eager to learn in a fast-paced setting.

The BDA is a public/private partnership with a mission to grow and diversify Bermuda’s economy.

Applications to be emailed to BDAHR@ontru.bm on or before close of business on June 13, 2025.

Posted June 3rd, 2025 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

Are you a proactive, detail-oriented professional looking to build experience in business development and provide critical administrative support? The Bermuda Business Development Agency is seeking a Facilitator to assist the business development team with special projects, research, market engagement, and day-to-day administrative tasks.

This is an excellent opportunity for someone with 1 to 3 years’ experience in business development support, sales support, or client-facing roles to contribute to key initiatives, support market outreach, and gain exposure to Bermuda’s international business sectors.

MAIN DUTIES AND RESPONSIBILITIES

Assist with maintaining and updating business development activities in Salesforce to ensure accuracy and completeness.

Participate in business development client meetings, assisting with pre-meeting preparation and post-meeting follow-up.

Assist in the development of target company lists in priority markets and in creating bespoke propositions for potential new clients.

Develop and maintain a strong understanding of the BDA’s priority industry pillars and service offerings.

Support the planning and coordination of overseas business development engagements.

Leverage digital tools such as LinkedIn to support business development activities.

Support the evaluation of business development activities, events and opportunities on island and overseas

Provide general administrative and logistical support for international business development engagement.

Monitor business development KPIs and week-to-week performance.

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

1 to 3 years’ experience in business development support, sales support, or a related client-facing or business environment.

Familiarity with Salesforce is an asset.

Proficiency in Microsoft Office products (Word, Excel, PowerPoint) required.

Familiarity with LinkedIn for business development and research purposes is an asset.

Strong organisational skills with the ability to manage multiple priorities and meet deadlines.

Confident working independently and collaboratively within a team environment.

Proactive, adaptable, and eager to learn in a fast-paced setting.

The BDA is a public/private partnership with a mission to grow and diversify Bermuda’s economy.

Applications to be emailed to BDAHR@ontru.bm on or before close of business on June 13, 2025.

Posted April 2nd, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 2 April 2025 – The fourth annual Bermuda Risk Summit, hosted by the Bermuda Business Development Agency (BDA), in collaboration with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY, concluded on 12 March following three days of high-level dialogue, impactful connections, and strategic insight that further solidified Bermuda’s global position as the world’s risk capital.

With more than 400 delegates in attendance – 39% travelling from overseas – and representation from 179 companies across 17 countries, this year’s Summit underscored Bermuda’s role as a global hub for risk innovation and investment. Delegates arrived from as far afield as Australia, the UAE, Hong Kong, Europe, and North America, reflecting the broad international pull of the event.

The Hamilton Princess & Beach Club reported higher-than-forecast final room pick-up totalling $136,654, exceeding the original contract by more than $28,000. The event also contributed to increased air arrivals and significant business engagement across the City of Hamilton.

This year’s theme, Redefining Resilience, was brought to life across 14 dynamic sessions. Attendees explored how the industry is responding to seismic shifts – whether climate-driven, geopolitical, technological or regulatory. Kevin Kajiwara’s keynote on geopolitical risk set the tone with a sobering but pragmatic take on the road ahead. Meanwhile, Commissioner Ricardo Lara’s remarks alongside wildfire expert Jeff Goodell highlighted the urgency of climate-driven disaster solutions, and Bermuda’s critical role in them.

From rethinking retirement security and unlocking capital in legacy insurance, to harnessing InsurTech and cyber innovation, the Summit offered both strategic foresight and practical pathways for action. In particular, the panel on corporate income tax positioned Bermuda’s evolving framework as a potential global model for innovation and digital efficiency. New to the Summit this year was the Future Leaders Forum, a session designed to engage students and career-shifters on the evolving opportunities in insurance, risk and financial services. More than 100 local students gained insights from industry professionals on career pathways, skills development, and sector growth. The session offered practical guidance and inspiration, reinforcing the BDA’s commitment to fostering local talent and ensuring that Bermuda’s future workforce is prepared to lead in a dynamic global market.

For the BDA, the Summit is also about conversion, not just conversation. This year, companies that first attended in 2024 returned with active Bermuda operations. Others newly engaged with the BDA are now in early-stage discussions about establishing a presence.

Kendaree Burgess, Managing Director of the BDA, said: “What we’re seeing is the summit doing exactly what it’s designed to do – convening global leaders, advancing thought leadership, and creating tangible business outcomes. As one business leader remarked, ‘Bermuda makes it easy to do business, because of the people in the room.’ The power of the Bermuda market lies in its unique public-private partnership. This week, delegates saw firsthand how industry, regulators, and government work together to reduce barriers and enable fit-for-purpose solutions. As the world seeks quality, stability, and innovation, Bermuda continues to deliver.”

Attendee feedback confirmed the value of the experience, with survey responses citing exceptional access to decision-makers, quality of sessions, and the unmatched setting as key differentiators. Beyond the immediate economic impact—hotel, airlift and on-island spend—the Summit delivers long-term return on investment for Bermuda by attracting new companies, expanding our risk ecosystem, and converting prospects into active investors in our economy. With new business now established in Bermuda as a result of last year’s summit, and more high-potential leads in the pipeline from this year, the event continues to deliver measurable ROI for the island.

Craig Redcliffe, Partner at EY Bermuda Ltd. and Regional Insurance Leader, said: “The quality of speakers at this year’s Bermuda Risk Summit was truly exceptional, from global macroeconomic experts to technical specialists, the depth and breadth of insight reflected the complexity of the world we’re navigating. Bermuda has firmly positioned itself as a focal point for the industry, on par with the world’s leading reinsurance events, and continues to attract top-tier talent and thought leadership to its shores. For EY, sponsoring the Summit delivers real value, not only through access to timely content, but by creating opportunities to connect with clients, peers, and stakeholders from across the global market.”

The BDA thanks our title partners ABIR and EY; our platinum sponsor BILTIR; our gold sponsors AM Best, Aspen, and SS&C Technologies; our silver sponsors Ariel Re, AXA XL, Kirkland & Ellis, and KPMG; and our supporting sponsors Acord, Aon, Fidelis Insurance Group, The Institutes, KBRA, Rein4ce, SiriusPoint, and Teneo. Our official airline partner was BermudAir and our spirits partner was Gosling’s.

The BDA was especially proud to partner with four leading media outlets this year — The Insurer (a Reuters company), Insurance Business America, Insurance Insider, and Bermuda:Re+ILS. Their global platforms helped extend the reach of our message and showcase Bermuda’s leadership in risk and reinsurance to a worldwide audience.

Organising this flagship event aligns directly with Bermuda’s Economic Development Strategy and the BDA’s refined focus as an Investment Promotion Agency (IPA). The BDA continues to drive investment by identifying high-growth sectors, expanding investor networks, and measuring real economic impact.

About the BDA

The Bermuda Business Development Agency (BDA) is an independent public-private partnership dedicated to attracting and retaining business in Bermuda. Through strategic business development and collaboration with key stakeholders, the BDA promotes Bermuda as a premier investment jurisdiction.

Posted March 20th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 20 March 2025 – The Bermuda Business Development Agency (BDA) has released its End of Year Report 2024, highlighting a landmark year of strategic transformation driven primarily by its transition to an Investment Promotion Agency (IPA) model. This shift has enhanced Bermuda’s competitive position and reinforced its status as a world-class investment destination by enabling a more targeted, data-driven approach to attracting high-value investment.

Managing Director Kendaree Burgess said, “This year marks a significant milestone for the BDA as we transition to an IPA model, ensuring our approach to investment promotion is more strategic, proactive, and impact-focused. By advancing diversification, strengthening investor engagement, and prioritising high-value opportunities, we are laying the groundwork for sustained economic growth in Bermuda.”

The transition follows a three-phase approach designed to ensure a seamless and effective transformation:

Phase 1: Competitive Readiness – Conducted benchmarking analysis, refined the organisational structure, and enhanced data-collecting capabilities.

Phase 2: Foreign Direct Investment Readiness – Strengthened Bermuda’s position by refining industry focus, enhanced marketing and business development tools, and expanded investor engagement strategies to attract high-value investment.

Phase 3: Implementation & Execution (Ongoing) – Currently deploying strategies and tools to drive long-term economic impact, sustain investment growth, and furter embed the IPA model within the BDA’s operations

Key highlights from the report include:

$500 million+ investment secured through the Economic Investment Residential Certificate (EIRC) programme.

Bermuda was awarded top-tier ranking in the Smart Centres Index, affirming its leadership in financial services and technology.

Plans are underway for the Sankofa House redevelopment into a boutique hotel, boosting Bermuda’s hospitality sector.

Strategic global engagement, including a London and Middle East tour, to strengthen international investment ties.

2024 Bermuda Risk Summit generated an estimated $2.5 million in economic impact.

Google’s Nuvem subsea cable project set to enhance Bermuda’s global digital infrastructure.

The BDA also strengthened its leadership team with key appointments, including David Parker (Head of Business Development), Simone Gibbons (Head of Marketing, Communications & Events), and Olivia Joell (Stakeholder Relationship Manager), positioning the agency for future success.

As part of its continued evolution, the BDA has announced new Board leadership. Michael Hanson has stepped down as Chair after supporting the agency through its strategic transition. He is succeeded by Susan Pateras, who now serves as Chair of the Board. Pateras, an Independent Director, brings a wealth of experience, strong industry relationships, and a long-term vision for Bermuda’s future.

Reflecting on his tenure as Chair, Hanson said: “The BDA is now a more dynamic, results-driven agency, well-positioned to drive investment and growth for Bermuda. I am confident in Susan’s leadership and the Board’s collective expertise to continue building on this momentum.”

The BDA welcomes new appointment, Aideen Ratteray Pryse, to the Board and extends its gratitude to outgoing board members Stuart Lacey and Greg Wojciechowski for their dedicated service. Lacey, who joined the Board in 2022, provided invaluable expertise, especially in fintech development. Wojciechowski, a member since 2015, played a pivotal role in enhancing Bermuda’s stature in the global financial services arena. Their contributions have been instrumental in guiding the BDA’s direction over the years.

The BDA’s distinguished Board includes:

Susan Pateras, BDA Board Chair – Independent Director

Grainne Richmond, BDA Deputy Chair – Executive Vice President, Head of Captives, Aon

Michael Hanson – Managing Partner, Carey Olsen Bermuda Limited

George Thomas, Jr. – Independent Director

Raymond S. Jones – Director, Economic Development Department, Government of Bermuda

Aideen Ratteray Pryse – Permanent Secretary, Ministry of Economy & Labour, Government of Bermuda

The BDA Board is composed entirely of volunteer, non-compensated members who generously dedicate their time and expertise to advancing Bermuda’s economic development.

To read the full 2024 Year in Review Report, click here.

About the BDA

The Bermuda Business Development Agency (BDA) is an independent public-private partnership dedicated to attracting and retaining business in Bermuda. Through strategic business development and collaboration with key stakeholders, the BDA promotes Bermuda as a premier investment jurisdiction.

Posted March 11th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 11 March 2025 – The Bermuda Business Development Agency (BDA) is pleased to announce that Kevin Kajiwara, Co-President of Political Risk Advisory at Teneo, will deliver the keynote luncheon at Bermuda Risk Summit 2025, tomorrow, at the Hamilton Princess & Beach Club.

With global instability redefining business strategies, Kajiwara will offer a high-level geopolitical outlook specially focused for insurers, reinsurers, and risk professionals. His keynote will explore how shifting global power dynamics, economic decoupling, and policy shifts are reshaping capital markets and risk management strategies.

Kajiwara, a trusted advisor to Fortune 100 CEOs and institutional investors, brings deep expertise in analysing geopolitical risk and global market shifts. As Co-President of Teneo’s Political Risk Advisory division, he provides strategic counsel on political, economic, and policy-driven disruptions.

The March 12 keynote will set the stage for the discussions that follow, providing attendees with actionable insights on:

Why traditional business playbooks no longer apply in a world of geopolitical upheaval.

How global economic realignment is reshaping the insurance and reinsurance sectors.

What industry leaders must do now to future-proof their businesses.

Kendaree Burgess, Managing Director of the BDA, highlighted the importance of this discussion for Bermuda’s market: “Bermuda is at the centre of global risk transfer, making it essential for our industry leaders to understand the geopolitical forces shaping capital flows, regulation, and investment strategies. Kevin Kajiwara brings insights that will equip attendees with the strategic foresight needed to navigate uncertainty and leverage Bermuda’s position as a global hub for innovative risk solutions.”

Bermuda Risk Summit 2025 brings together top executives, policymakers, and industry experts to explore the evolving risk landscape and the future of global insurance.

Teneo is also a supporting sponsor of the event, reinforcing its commitment to providing strategic insights to industry leaders navigating today’s complex risk environment.

Bermuda Risk Summit 2025 is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, AXA XL, Kirkland & Ellis, KPMG,

Supporting: Acord, Aon, Fidelis Insurance Group, The Institutes Knowledge Group, KBRA, Rein4ce, SiriusPoint, Teneo

Official Airline: BermudAir

Media: The Insurer (a Reuters Company), Insurance Insider, Bermuda:Re+ILS

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted March 6th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, 6 March 2025 – The Bermuda Business Development Agency (BDA) is pleased to announce the launch of the Future Leaders Forum, a dedicated event within Bermuda Risk Summit, designed to inspire and connect students and career changers with opportunities in Bermuda’s thriving risk and insurance industry.

Taking place on 12 March 2025 at the Hamilton Princess & Beach Club, the Forum will provide attendees with invaluable insights into career pathways, industry trends, and educational programmes that can help them build a future in the sector. With a mix of panel discussions, networking sessions, and mentorship opportunities, the event is set to bridge the gap between emerging talent and leading industry professionals.

“This initiative is very close to my heart,” said Olivia Joell, Stakeholder Relationship Manager at the BDA. “The Future Leaders Forum is not just another networking event—it is about investing in Bermuda’s talent pool and creating clear pathways for the next generation to thrive in our industry. We want to empower students and career changers with knowledge, connections, and inspiration to see the risk sector as a viable and rewarding career choice.”

Bermuda is home to a world-leading risk and reinsurance market, and ensuring its continued success means nurturing new talent and expanding opportunities for young professionals and career movers. The Future Leaders Forum aims to highlight the diverse career paths available, from finance and actuarial science to underwriting, risk management, and broking, helping to build a sustainable pipeline of industry talent for the future.

Participants will engage in interactive sessions, including:

Panel Discussion: “Future Leaders in Risk – Building Skills for the Next Generation” – Industry professionals will discuss career pathways, essential skills, and scholarship opportunities.

Educational Pathways in Risk & Insurance – Experts will showcase degree programmes, certifications, and training options.

Table Talks with Industry Professionals – Attendees will have direct access to experienced professionals who will share insights into their career journeys and the evolving risk landscape.

The BDA is committed to fostering talent development, recognising that a strong, diverse workforce is critical for maintaining Bermuda’s position as a global leader in the risk industry. This forum will serve as a launchpad for young professionals, equipping them with the knowledge, skills, and connections necessary to seize opportunities in the sector.

Students, recent graduates, and professionals considering a career change are encouraged to attend. For more information and to register, please contact Olivia Joell at olivia@bda.bm.

Bermuda Risk Summit 2025 will take place from 10 – 12 March at Hamilton Princess & Beach Club in Hamilton, Bermuda, and is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, AXA XL, Kirkland & Ellis, KPMG,

Supporting: Acord, Aon, Fidelis Insurance Group, KBRA, Rein4ce, SiriusPoint, Teneo

Official Airline: BermudAir

Media: The Insurer (a Reuters Company), Insurance Insider, Bermuda:Re+ILS

Registration for Bermuda Risk Summit 2025 is open at a rate of $595.

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted March 5th, 2025 by Melvin Dickinson & filed under News, Press Release, Uncategorized.

HAMILTON, BERMUDA, 4 March 2025 – The Bermuda Business Development Agency (BDA) continues to build momentum in key international markets after successfully hosting exclusive Wealth & Technology Roundtables in London on the 27th of February. The high-level discussions reinforced Bermuda’s position as a premier jurisdiction for wealth management, insurtech, and digital finance.

Moderated by Sheba Raza, Founder, Próxima Advisory, for the Wealth discussion, and Tim Reed, Founding Partner, YOUR PARTNERS, for the Technology discussion, the private gatherings provided a platform for meaningful engagement with leading financial institutions, investors, and technology firms. Attendees explored Bermuda’s sophisticated regulatory environment, innovative financial solutions, and its reputation as a well-regulated, stable jurisdiction for global business.

The February roundtables built upon relationships established during BDA’s London visit in November, generating tangible results.

David Parker, Head of Business Development at the BDA, said: “This is business development in action. We are not just introducing Bermuda to new audiences; we are strengthening relationships with those who have already recognised the value of our jurisdiction. Following our November meetings, we secured deeper engagement with key stakeholders in February. Institutions that were already familiar with Bermuda are now looking to grow their global presence and work more closely with us. This is exactly how we want to build relationships—deliberately, strategically, and with long-term impact.”

Kendaree Burgess, Managing Director, BDA, said: Bermuda’s appeal to wealth managers and global investors is clear: a well-regulated financial centre with world-class insurance and asset protection capabilities, an efficient regulatory framework, and a business-friendly environment. In an era where certainty and security are top priorities for high-net-worth individuals, Bermuda stands out as a jurisdiction that offers both discretion and stability.”

The roundtables also reinforced Bermuda’s role as a hub for technology firms ready to scale. Discussions centered on Bermuda’s advantages for digital finance and insurtech companies looking for a jurisdiction that combines strong regulatory oversight with the flexibility needed for innovation.

“The BDA remains committed to sustained engagement in key financial hubs, ensuring that Bermuda is at the forefront of global discussions on wealth management, fintech, and insurance,” Burgess added.

The BDA plans to return to London in June and September, continuing its proactive outreach to financial institutions, investors, and technology leaders.

“Every time we engage with international stakeholders, we expand Bermuda’s reach. With each visit, we grow our network of ‘Friends of Bermuda’—advocates in key markets who understand and promote our value proposition. This strategic engagement will continue to accelerate Bermuda’s influence in the global financial landscape.” Parker added.

For more information about the BDA and future events, please visit bda.bm.

Posted February 27th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 27, 2025: The Bermuda Business Development Agency (BDA) is pleased to announce that Brian Duperreault, a legendary figure in the global insurance and reinsurance industries, will headline the closing session of the Bermuda Risk Summit 2025.

The Last Word: Brian Duperreault, an exclusive “seaside chat”, will take place on the final day of the Summit, offering attendees a rare opportunity to hear from one of the industry’s most influential leaders.

Duperreault’s participation at the Summit follows the market entry of his newest company, Mereo Insurance, and comes a week before the launch of his biography, Faith & Purpose: The Life & Vision of Insurance Icon Brian Duperreault.

The seaside chat will be led by President and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR) John Huff. In addition to taking a look at Bermuda’s critical role as a global risk leader, the evolution of the re/insurance market, and Duperreault’s vision for the island’s future in the industry, Huff will invite Duperreault to provide some insight into Mereo’s plans as well as what’s covered in his biography.

Kendaree Burgess, Managing Director of the Bermuda Business Development Agency, said: “Brian Duperreault is a pioneer whose influence has shaped the global re/insurance landscape for over fifty years. His ability to anticipate and navigate market shifts has set the standard for leadership in the industry. Having him close the Bermuda Risk Summit 2025 is a defining moment for this event and for all who attend. As Bermuda continues to reinforce its position as the world’s risk capital, Brian’s insights will be instrumental in informing future strategies for insurers, reinsurers, and the broader risk community. We encourage attendees to join this landmark session.”

Huff added: “Brian’s leadership, vision, and contributions to the industry have helped establish Bermuda as the powerhouse it is today. His ability to navigate global markets, transform organisations, and lead through change has influenced generations of industry professionals. With his new venture, Mereo Insurance, Brian continues to redefine what it means to be an

industry leader. This session is an absolute must-attend for anyone serious about the direction of global re/insurance.”

AXA XL has also signed on as a Silver sponsor to further enhance the Summit’s impact and reach. Their participation comes at a pivotal time as risk management strategies continue to evolve in response to emerging challenges.

The Bermuda Risk Summit 2025 will take place from 10 – 12 March at Hamilton Princess & Beach Club in Hamilton, Bermuda.

Bermuda Risk Summit 2025 is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, AXA XL, Kirkland & Ellis, KPMG,

Supporting: Acord, Aon, Fidelis Insurance Group, KBRA, Rein4ce, SiriusPoint, Teneo

Official Airline: BermudAir

Media: The Insurer (a Reuters Company), Insurance Insider, Bermuda:Re+ILS

Registration for Bermuda Risk Summit 2025 is open at a rate of $495 until February 28, after which the standard rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. For more information, contact bermudarisk@bda.bm.

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted February 24th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 24, 2025: The Bermuda Business Development Agency (BDA) announces must-attend keynote session featuring Gregory Daco, EY Chief Economist, at Bermuda Risk Summit 2025. With economies in flux and uncertainty shaping financial strategies, Daco will dissect the forces driving market volatility and reveal how businesses can position themselves for stability and growth in the year ahead.

Titled “2025 Economic Outlook: Navigating Crosscurrents”, this keynote will cut through the noise to deliver a sharp, data-backed analysis of macroeconomic trends, giving attendees the strategic intelligence needed to anticipate risks, seize opportunities, and remain competitive in an evolving global market.

Daco, a frequent contributor to the Financial Times, Wall Street Journal, New York Times, Barron’s, and a regular guest on CNBC, Bloomberg, and NPR, brings a global perspective honed through years of experience. Prior to EY, he served as Chief US Economist at Oxford Economics, leading a team of high-caliber economists producing forecasts, analysis, and research on the US and global economy.

He said: “Businesses that can identify and adapt to shifting economic currents will be best positioned to thrive. At Bermuda Risk Summit 2025, we’ll explore the key trends shaping the global economy and what they mean for industries navigating an increasingly complex landscape.”

Craig Redcliffe, EY Bermuda Partner and Regional Insurance leader, said: “In an environment where risk and opportunity are two sides of the same coin, having access to clear, forward-thinking economic insights is invaluable. Gregory Daco’s expertise will provide industry leaders with the knowledge they need to make informed decisions and drive sustainable growth as they shape the future with confidence.”

Kendaree Burgess, Managing Director of the BDA, added: “Bermuda Risk Summit continues to bring together some of the best minds in global finance and economics. Gregory Daco’s expertise will provide attendees with invaluable perspective on the macroeconomic forces influencing the industry in 2025.”

Teneo and Acord have also signed on as Supporting sponsors of Bermuda Risk Summit 2025. Their participation further strengthens the Summit’s commitment to thought leadership and industry collaboration.

Bermuda Risk Summit 2025 is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, Kirkland & Ellis, KPMG,

Supporting: Acord, Aon, Fidelis Insurance Group, KBRA, Rein4ce, SiriusPoint, Teneo

Official Airline: BermudAir

Media: The Insurer (a Reuters Company), Insurance Insider, Bermuda:Re+ILS

Registration for Bermuda Risk Summit 2025 is open at a rate of $495 until February 28, after which the standard rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. For more information, contact bermudarisk@bda.bm.

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted February 20th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 20, 2025: With wildfires raging across California and climate-driven disasters reshaping global economies, Bermuda Risk Summit 2025 is bringing in one of the world’s leading voices on climate change. Jeff Goodell will deliver an illuminating keynote session on how climate change is accelerating the risks of extreme heat and wildfires while exploring the escalating threats to human health, ecosystems, and global communities.

Goodell, a New York Times bestselling author and award-winning journalist, has been at the forefront of climate reporting for over two decades. His latest book, “The Heat Will Kill You First: Life and Death on a Scorched Planet,” explores the rising threats of extreme heat, wildfires, and their devastating consequences. His earlier work, “The Water Will Come,” predicted the impacts of sea-level rise on coastal economies, a reality now playing out in vulnerable regions across the world.

Goodell’s Keynote Extreme Heat and Wildfire: Navigating the Realities of Climate Change, will explore:

The growing frequency and severity of extreme heat and wildfires

How these escalating risks are affecting public health, ecosystems, economies and global stability

The urgent need for innovation and coordinated action to build resilience in a warming world

Sponsored by Aspen, this is a must-attend session for industry professionals, policymakers, and global leaders seeking to understand the far-reaching implications of climate volatility and environmental risk. In Bermuda, where 75% of global property and catastrophe reinsurance is managed, the link between Goodell’s research and the industry’s role in disaster recovery and financial protection is undeniable. As California and other wildfire-prone regions grapple with record-breaking losses, Bermuda-based reinsurers are absorbing billions in claims, ensuring communities can rebuild and recover.

Christian Dunleavy, Aspen Group President, said:”Climate change isn’t a distant threat — it’s happening now, and the economic impact is staggering. As insurers, we play a fundamental role

in providing the financial safety net that allows businesses and communities to recover. Jeff Goodell’s reporting highlights the urgency of these challenges and the critical need for forward-thinking solutions. His insights will be invaluable for understanding what lies ahead and how industries, including reinsurance, can prepare for an uncertain future.”

While Goodell’s keynote will focus on the scientific and societal impact of climate change, it underscores the critical role of insurance in navigating today’s climate crisis. The discussion will continue in a dedicated industry session where experts will explore the evolving role of reinsurance and risk management in responding to climate-driven disasters.

Beyond the keynote, Bermuda Risk Summit attendees will gain exclusive access to expert panels, strategic discussions, and high-level networking opportunities, fostering collaboration among the industry’s most influential decision-makers.

Registration for Bermuda Risk Summit 2025 is open at a rate of $495 until February 28, after which the standard rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. For more information, contact bermudarisk@bda.bm.

Bermuda Risk Summit 2025 is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, Kirkland & Ellis, KPMG,

Supporting: Aon, Fidelis Insurance Group, KBRA, Rein4ce, SiriusPoint

Official Airline: BermudAir

Media: Bermuda:Re+ILS, Insurance Business America, Insurance Insider, The Insurer (Thomson Reuters)

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted February 5th, 2025 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 5, 2025: The Bermuda Business Development Agency (BDA) has confirmed the agenda for the highly anticipated Bermuda Risk Summit 2025, from March 10 to 12 at the Hamilton Princess & Beach Club. This year’s event, themed “Redefining Resilience,” will gather global leaders in property and casualty insurance, reinsurance, and risk management to discuss the evolving landscape and emerging challenges.

The Association of Bermuda Insurers and Reinsurers (ABIR) and EY return as title sponsors, reinforcing their commitment to driving industry-leading conversations in the risk and insurance sectors. Further strengthening its impact, new Silver sponsor, Ariel Re, and Supporting sponsor, SiriusPoint, have also joined the event. Their involvement underscores the summit’s growing significance as a global platform for risk and reinsurance leaders.

The opening panel, Navigating Global Risk: Insights from Industry Leaders, features John Huff, CEO & President of ABIR, as moderator. This session will set the stage for a thought-provoking discussion on the evolving risk landscape, with a panel of Global CEOs including Stephen Catlin (Founder and Executive Chair of Convex Group), Mark Cloutier (Executive Chairman and Group CEO of Aspen Insurance Group), Nicolas Papadopoulo (CEO of Arch Capital Group), and Kathleen Reardon (CEO of Hiscox Re & ILS). They will share their perspectives on how their businesses are navigating an increasingly complex global risk environment while supporting economies around the world. The discussion will cover how the sector is responding to emerging challenges, adapting to shifting market dynamics, and implementing resilience-focused strategies. Attendees will gain valuable insights into the innovative approaches shaping the future of risk management and ensuring long-term industry sustainability.

John Huff, CEO & President of ABIR, said: “From geopolitical instability to inflationary pressures and increasing climate-driven catastrophes, the risk landscape is evolving at an unprecedented pace. As the world’s largest reinsurance market, the Bermuda industry plays a critical role in absorbing global shocks, ensuring financial resilience in times of uncertainty while protecting families, businesses and communities. This year’s Bermuda Risk Summit is the opportunity to bring together the brightest minds in risk and reinsurance to move beyond theory and into action. We’re not just discussing risk — we’re forging the solutions that will define the future of global stability.”

This year’s agenda includes high-impact discussions on the most pressing topics in risk and reinsurance today. Highlights include:

Black Swans, Grey Rhinos, and the Risks We Face — A strategic session on forecasting uncertainty and mitigating volatility in global markets.

Building Bridges Across Borders to Strengthen Global Partnerships — A deep dive into cross-market collaboration, and innovative partnerships that drive resilience, capital efficiency, and global expansion.

Cyber Resilience in Focus: Protecting Against Emerging Threats — With cyber risks escalating, this panel will tackle regulatory shifts, technological advancements, and proactive solutions for fortifying digital defences in an evolving threat landscape.

Strategic Depth: Unlocking the Potential of Multi-Captive Solutions in Bermuda — A session showcasing Bermuda’s leadership in multi-captive strategies, governance considerations, and financial opportunities within a well-established framework.

Attendees will not only have access to expert panels, but exclusive networking opportunities that encourage collaboration and knowledge-sharing among the industry’s most influential figures.

Registration for Bermuda Risk Summit 2025 is open at a rate of $495 until February 28, after which the standard rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. For more information, contact bermudarisk@bda.bm.

To secure accommodation at the Hamilton Princess & Beach Club, attendees can reserve rooms online or contact 1-441-295-3000 or the Global Reservations Centre at 1-800-441-1414, using the booking code “Bermuda Risk Summit” to access preferred rates. With limited spots available, early registration is highly encouraged to secure your place at this industry-defining event.

Bermuda Risk Summit 2025 is sponsored by:

Title: ABIR, EY

Platinum: BILTIR

Gold: AM Best, Aspen, SS&C Technologies

Silver: Ariel Re, Kirkland & Ellis, KPMG,

Supporting: Aon, Fidelis Insurance Group, KBRA, Rein4ce, SiriusPoint

Official Airline: BermudAir

Media: The Insurer (Thomson Reuters), Insurance Insider, Bermuda:Re+ILS

About The Bermuda Risk Summit

The Bermuda Risk Summit 2025 is a premier platform for insurance and reinsurance professionals to engage with industry leaders, strengthen partnerships, and gain insights into emerging risks and solutions. With the strong backing of ABIR and EY, along with a growing network of sponsors, the summit will deliver valuable discussions that shape the future of the global risk industry.

Posted January 30th, 2025 by Melvin Dickinson & filed under News, Press Release.

HAMILTON, BERMUDA – January 29, 2025 – The Bermuda Business Development Agency (BDA) is taking a bold step forward in its mission to attract high-value Foreign Direct Investment (FDI) with the launch of an Investment Promotion Agency (IPA) model. This transformation focuses on delivering measurable economic outcomes — creating jobs, driving business incorporations, and strengthening Bermuda’s position as a premier global investment destination. Leading this evolution is Managing Director, Kendaree Burgess.

The IPA model represents a significant shift in how the BDA will engage with potential investors, anchoring its efforts in results and data-driven strategies. By focusing on key metrics such as business incorporations, long-term investments, and the growth of enterprises on the island, the BDA is positioning Bermuda as a premier investment jurisdiction.

A career executive with over 25 years’ experience across a broad range of sectors including financial services, hospitality, and healthcare, Burgess joined the BDA in March 2023, as Chief Operating Officer. Leading efforts to streamline operations, optimise systems, enhance efficiency, and improve organisational performance, she also spearheaded the transition to an IPA, setting a clear path towards successful implementation.

Prior to joining the BDA, Ms. Burgess was CEO of the Bermuda Chamber of Commerce where she not only focused on economic development, public policy, and fiscal responsibility, but also helped drive legislative changes to benefit industry, and Bermuda’s future economic development.

The BDA has bolstered its leadership team to drive the new strategy. Industry veterans, David Parker, Head of Business Development, and Simone Gibbons, Head of Marketing, Communications & Events, are tasked with driving targeted market engagement and brand positioning. Together, they will work alongside sector-specific business development managers and research and intelligence specialists to implement a strategy that identifies meaningful investment opportunities, builds lasting partnerships, and ensures Bermuda achieves sustained economic growth.

Olivia Joell has been promoted to the role of Stakeholder Relationship Manager, a new position created to deepen engagement with local industry and encourage reinvestment in Bermuda.

Recognising that a significant portion of FDI globally comes from reinvestment by companies already operating on the ground, this role is essential to fostering long-term partnerships and helping local and international businesses see continued opportunities for growth and success. Together, this diverse group is equipped to deliver on the promise of the IPA model by prioritising actionable, measurable outcomes that create lasting benefits for Bermuda.

Ms. Burgess said, “The transition to an IPA model redirects our focus to attracting Foreign Direct Investment that leverages Bermuda’s unique strengths and supports our economic goals. The BDA will prioritise sectors with the highest potential to diversify the economy, boost GDP, and advance key components of the government’s economic development strategy.

“This year marks a significant milestone in the BDA’s evolution. The IPA model is not just about strategy; it’s about delivering measurable, meaningful outcomes for Bermuda’s economy — things that matter to ordinary Bermuda residents, such as expanding opportunities across diverse industries. Over the next six months, we will focus on engaging with industry leaders and building partnerships that position Bermuda as a leader in global investment. This has been a pivotal shift in the BDA’s transformation. The resilience and adaptability of our team have been remarkable, and I look forward to engaging with stakeholders to unlock opportunities that will shape Bermuda’s economic future.

“Bermuda can expect clear evidence of the IPA model’s effectiveness through transparent reporting and concrete results. By prioritising outcomes that benefit everyday residents, we will demonstrate its success and impact on the island.”

Susan Pateras, BDA Board member, added, “The adoption of the IPA model is a bold and forward-looking step that equips us to meet the evolving needs of investors. None of this would have been possible without the support of our government and our industry partners. Under Kendaree Burgess’s leadership, the BDA is well-positioned to achieve tangible economic growth. Successful investment promotion requires a collaborative effort, and we are committed to working closely with Government and local stakeholders to create an environment where businesses can thrive.”

Posted December 18th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, December 18 2024: The Bermuda International Long Term Insurers and Reinsurers (BILTIR) has joined the 2025 Bermuda Risk Summit as a Platinum Sponsor, reinforcing the event’s position as a premier gathering for the global (re)insurance industry. They join title sponsors, the Association of Bermuda Insurers and Reinsurers (ABIR) and EY, as well as a growing list of valued sponsors:

Gold: AM Best, Aspen, SS&C Technologies

Silver: Kirkland & Ellis, KPMG

Supporting: Aon, Fidelis Insurance Group, KBRA, Rein4ce

Official Airline: BermudAir

The 2025 Bermuda Risk Summit, themed “Redefining Resilience,” will explore pivotal role in shaping the future of risk, driving innovation, and addressing global challenges. This year’s event builds on the island’s long-standing reputation as a global leader in (re)insurance, while setting the stage for transformative, thought-provoking discussions and fresh perspectives.

Kendaree Burgess, Managing Director of the BDA, remarked: “We welcome BILTIR as a Platinum Sponsor. Their involvement reflects the high caliber of this event and underscores Bermuda’s role as a leader in the global (re)insurance industry. With the support of all our partners, we can continue to deliver a platform that fosters collaboration and drives meaningful progress for the industry.”

Suzanne Williams-Charles, BILTIR Chief Executive Officer stated: “The Bermuda Risk Summit provides a vital platform for engaging with industry leaders and addressing key issues shaping the future of the life insurance and reinsurance industries. We are proud to support this important event as a Platinum Sponsor and to contribute to the discussions that drive collaboration and innovation across the global market.”

Meg Mulry, Senior Director at AM Best, commented: “We are pleased to support the Bermuda Risk Summit as a Gold Sponsor. This event offers a unique opportunity for industry leaders to share insights and explore innovative solutions that will shape the future of the (re)insurance sector.”

The BDA is also partnering with leading media organisations, including The Insurer (Thomson Reuters), Insurance Insider, Bermuda:Re+ILS, and Insurtech Insights to share the event’s highlights with a global audience.

Registration is now open at a rate of $495 until February 28, 2025, after which a rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. Please click here for more details and e-mail bermudarisk@bda.bm if you wish to participate. To secure accommodation at the Hamilton Princess & Beach Club, reserve your room online or contact 1-441-295-3000 or the Global Reservations Centre at 1-800-441-1414, using the booking code ‘Bermuda Risk Summit’ to access preferred rates.

Posted December 12th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda – December 12, 2025 – Bermuda has been named the top jurisdiction for technology leadership in Latin America and the Caribbean by the Smart Centres Index (SCI). Developed by Z/Yen, the SCI evaluates the capabilities of global commercial centres to innovate, develop, and implement advanced technologies across key areas such as Science, Technology, and Fintech. Bermuda’s success not only outpaces strong regional competitors like Mexico City and the Cayman Islands, but also highlights its position as a trusted leader for technology-driven industries.

This ranking affirms Bermuda’s remarkable success in driving innovation support, creative intensity, and delivery capability — the three core pillars of the SCI framework. Globally, Bermuda ranked 57th, a testament to its competitive standing among much larger markets. It also highlights how Bermuda leverages its advanced digital infrastructure and well-regulated environment to balance opportunity and risk in this rapidly evolving era.

Kendaree Burgess, Managing Director of the Bermuda Business Development Agency, emphasised the significance of Bermuda’s achievement: “Bermuda’s top-ranking in the Smart Centres Index underscores our commitment to build a resilient and innovative economy. Achieving first place in the Latin America and Caribbean region reflects the dedication of our public and private sectors in establishing Bermuda as a trusted global hub for technology. This accomplishment sets us apart from competing jurisdictions, highlighting not only our ability to adapt to a rapidly changing landscape but also our drive to lead in emerging fields. Moreover, this recognition aligns directly with Bermuda’s broader economic development strategy, reaffirming our commitment to fostering growth, innovation, and sustainability.”

The rankings in the SCI are determined through a comprehensive survey, which gathers input from professionals across various industries, located outside of Bermuda. This data is combined with quantitative measures to provide a holistic view of each centre’s performance in advancing technology and economic development.

Mike Wardle, Chief Executive Officer of the Z/Yen Group of Companies, stated: “Economic development increasingly depends on the application of new and innovative technologies to a wide range of activity. Places that are able to support innovation through their regulatory and business environment, and through the development of talent will thrive in the economy of the future. Bermuda is showing leadership in the region in the development of innovative industry.”

Z/Yen is a London-based think-tank and consultancy known for its expertise in financial services, technology, and strategic management. Since its establishment in 1994, Z/Yen has developed influential indices such as the Global Financial Centres Index and the Smart Centres Index, which evaluate innovation, sustainability, and competitiveness in key global industries.

Posted November 26th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, November 26, 2024: The Bermuda Business Development Agency (BDA) is pleased to announce that the Association of Bermuda Insurers and Reinsurers (ABIR) and EY will return as headline sponsors for the 2025 Bermuda Risk Summit, marking their fourth consecutive year of support.

The 2025 Bermuda Risk Summit will take place at the Hamilton Princess & Beach Club from March 10–12, 2025. Attendees will benefit from a comprehensive agenda featuring a variety of engaging sessions, networking opportunities, and curated experiences throughout the event.

Kendaree Burgess, Managing Director of the BDA, stated: “We greatly appreciate ABIR and EY’s unwavering support over the past four years. Their partnership reinforces the Bermuda Risk Summit’s role in showcasing Bermuda as a leader in the global (re)insurance industry. As we approach the 2025 Summit, we are committed to delivering an exceptional experience that fosters meaningful connections and insights at a crucial juncture in the industry’s calendar.”

John Huff, President & CEO of ABIR, stated: “The Bermuda Risk Summit is a premier forum for the (re)insurance industry, fostering critical dialogue and collaboration among global leaders. ABIR and its member companies are honoured to support this pivotal event, which drives innovation and actionable solutions to address the global protection gap. We are keen to collaborate with industry stakeholders to ensure the 2025 edition exceeds expectations.”

Craig Redcliffe, EY Bermuda Partner and Regional Insurance Leader at EY, added: “EY is thrilled to once again serve as Headline Sponsor of the Bermuda Risk Summit. We’ve seen the Summit evolve into a cornerstone event for the global (re)insurance community. The 2025 Summit offers an unparalleled opportunity to connect with industry leaders, showcase Bermuda’s competitive strengths, and continue shaping the future of the global risk industry. We look forward to teaming with the BDA and leveraging our global networks in support of this important event.”

The immediate economic impact of the 2024 Bermuda Risk Summit, which had over 450 attendees (40% from overseas), was estimated at $3.4 million. This impact encompassed spending on lodging, transportation, food and beverage, retail, and recreation, while

supporting 432 jobs. Even more significant were the long-term economic benefits driven by additional visitors who travelled to Bermuda for business meetings during the week of the summit.

This signature event continues to play a vital role in advancing the BDA’s broader strategy to strengthen Bermuda’s global presence, drive economic growth, and cultivate valuable relationships within the international business community.

Registration is now open at a rate of $495 until February 28, 2025, after which a rate of $595 will apply from March 1 to 10. Additional sponsorship opportunities are still available. Please click here for more details and e-mail bermudarisk@bda.bm if you wish to participate. To secure accommodation at the Hamilton Princess & Beach Club, reserve your room online or contact 1-441-295-3000 or the Global Reservations Centre at 1-800-441-1414, using the booking code ‘Bermuda Risk Summit’ to access preferred rates.

Posted November 21st, 2024 by Melvin Dickinson & filed under News, Press Release, Uncategorized.

Hamilton, Bermuda – November 21, 2024 – The Bermuda Business Development Agency (BDA) successfully facilitated the two-day Bermuda Wealth Forum, held at the JW Marriott Grosvenor House London on 19th and 20th November. This intimate roundtable discussion convened industry leaders and decision-makers to explore Bermuda’s position as a premier destination for wealth preservation and growth.

Minister of Economy and Labour, The Hon. Jason Hayward, J.P., MP, opened the event with an insightful legislative update on Bermuda’s progressive family office framework, laying the foundation for productive discussions.

Moderated by BDA Managing Director Kendaree Burgess and Sheba Raza, Vice-Chair of The Bermuda Society, the Forum included contributions from a distinguished Bermuda delegation with expertise in trust and estate planning, private banking, regulation, and corporate concierge services. The delegation included David Vaness, Vice President at Butterfield Trust (Bermuda) Limited; Neil Glass, Independent Non-Executive Director at WW Management; Ian Rumens, Head of Private Client at Ocorian; Lola Myshketa, Senior Vice President and Head of Private Banking at Clarien Bank; and Marquis Caines, Partner and Head of Portfolio at Diversity X.

Minister Hayward stated, “The success of the Bermuda Wealth Forum reflects the strength of our industry partnerships and the shared commitment to positioning Bermuda as a leader in wealth management. Our progressive family office framework further enhances Bermuda’s appeal, offering innovative solutions that meet the evolving needs of high-net-worth individuals and families while reinforcing our standing as a premier global financial jurisdiction.”

“The Bermuda Wealth Forum served as a strategic platform for industry leaders and decision-makers to explore the unique advantages that Bermuda offers,” said Kendaree Burgess, Managing Director of the BDA. “This Forum exemplifies our commitment to driving Bermuda’s leadership in wealth management by delivering innovative, client-focused solutions that respond to an ever-changing global landscape.”

This milestone event is part of the BDA’s broader commitment to supporting sustainable growth and strengthening Bermuda’s position in the global financial services sector.

Stay tuned for updates on upcoming initiatives as Bermuda continues to lead in wealth management and financial innovation.

Posted November 4th, 2024 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

The Bermuda Business Development Agency (BDA) is seeking to recruit 2 new Business Development Managers to drive growth and expand our client base across diverse regions. If you are a highly motivated and results-driven individual with experience in the Financial Services, Technology or High Net Worth Services sector, please join us. We would love to have you on our team!

The Business Development Manager is a full-time role within the BDA and will work in conjunction with the Head of Business Development to cultivate and implement innovative, proactive strategies to attract businesses to the island as well as encourage greater investment in Bermuda companies and products.

The role offers the opportunity to work with key stakeholders to sustain existing business, while actively developing new business on the island that leads to growth in GDP and job creation.

MAIN DUTIES AND RESPONSIBILITIES

Develop a deep knowledge of your pillar including existing companies, investment levels, jobs numbers and future potential.

Build and maintain strong relations with existing investors and stakeholders.

Advocate for improvements to the investment offering to potential investors, for example, legislative changes.

Build a compelling proposition relevant to the respective pillar highlighting the broader strengths of Bermuda as a business location and place to live.

Promote innovation – Bermuda as a sandbox from which innovators can build new products, platforms & solutions before scaling to larger markets.

Promote climate action/sustainability initiatives for respective pillar.

Attend and actively participate in key events in market and overseas.

Leverage digital tools such as LinkedIn to support marketing & communication activities.

Develop a list of target companies in priority markets with bespoke propositions for each potential new client, attracting and incentivizing new clients to visit Bermuda.

Make investment referrals and maintain regular contact/relations with solution providers.

Work closely with other partners in Government to unblock any barriers to conversion.

Maintain an active knowledge of real estate inventory, talent availability, concierge services, incentives and other developments relevant to respective pillar.

Ensure that the CRM/Salesforce system accurately reflects the status of all leads, opportunities/referrals at any given time. Provide monthly updates internally on pipeline progress.

Monitor the impact of each secured investment on economic growth, aligned with the Economic Development Strategy.

Undertake regular aftercare/follow up with existing investors, supporting expansion and reinvestment.

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

Minimum of three to five years’ experience in senior sales, consulting or business development role

Undergraduate degree

A successful track record in complex and innovative business development, coupled with the ability to compose and articulate complex proposals

Proven capability to identify, develop and negotiate long term business relationships

The BDA is a public/private partnership with a mission to grow and diverisify Bermuda’s economy.

Applications to be emailed to bdahr@ontru.bm on or before close of business on November 13, 2024

For Bermudians or Spouses of Bermudians only

Posted October 10th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda – October 10, 2024 – The Bermuda Business Development Agency (BDA) is pleased to announce that the Economic Investment Residential Certificate (EIRC) initiative has surpassed $500 million in investments. This milestone reinforces Bermuda’s position as a premier destination for global investors, showcasing the EIRC’s pivotal role in driving sustained economic growth while enhancing the island’s appeal to high-net-worth individuals seeking both exceptional investments and an unmatched island lifestyle.

Since its launch in 2021, The BDA has successfully provided concierge services for all EIRC applicants, guiding them through each phase of the process and ensuring a smooth, seamless experience. This tailored approach has been instrumental in driving economic growth, attracting affluent investors from around the world, including the U.S., U.K., Canada, and Spain. With a minimum investment of $2.5 million, participants gain permanent residency in Bermuda and the flexibility to invest in real estate, new and existing local businesses, Government bonds (previously offered), or social causes. To date, 58 approved applications have driven substantial capital into local enterprises and the property market.

The EIRC does however offer more than financial benefits; many certificate holders are drawn to Bermuda because of personal connections, whether through birth, marriage, or long-standing relationships with the island. As a result, these stakeholders are not solely investing capital—they have become part of Bermuda’s community. Data shows that nearly half of a country’s economic growth typically originates from individuals already embedded in the community, and Bermuda is no different. By becoming part of the island’s fabric, these stakeholders unlock even greater opportunities for investment and growth, driving Bermuda’s continued economic success.

The Honourable Jason Hayward, Minister of Economy and Labour, commented on the programme’s success: “The EIRC initiative has proven to be a vital tool for stimulating economic development in Bermuda. By attracting high-net-worth individuals who are not only investing but also establishing Bermuda as their home, we are creating long-term opportunities for the

island. Surpassing the $500 million mark is a significant achievement, and we are confident that the BDA and EIRC programme will continue to contribute positively to Bermuda’s economic growth.”

Kyle Rogers, Research and Intelligence Manager at the BDA, is also responsible for overseeing the concierge service that supports applicants throughout the entire EIRC process. He ensures seamless management of the certificates, providing crucial guidance from initial inquiry, through comprehensive candidate evaluation, to final approval. He stated, “Reaching $500

million is a testament to Bermuda’s unique offering as both a business hub and an exceptional place to live. The EIRC initiative continues to generate significant value by attracting capital and

new residents who are committed to the island’s long-term success. We are excited about the programme’s growth and the bright future ahead.”

Of the total $500 million investment, $212 million has been directed towards new businesses, $231 million into real estate, $49 million into existing local enterprises, $2.6 million into Government bonds, and $6 million into social ventures deemed beneficial to Bermuda and subject to the Minister’s approval.

Jonathan Halata, a developer, investor, and successful EIRC applicant, shared his experience: “As Canadians and Brits, my family has been connected to Bermuda since the 1970s. The EIRC wasn’t just about investing money; it was about building a life for my husband and daughter, and contributing to the community my family has become part of.”

“My investment in Bermuda extends far beyond financial returns—it’s about contributing to the development of premier assets like hotels and tourism infrastructure. Island Realty projects like Azura and Nautilus have brought something unique to Bermuda and created dozens of jobs, which are vital for both airlift and the livelihoods of Bermudians.

“I see a direct link between the EIRC programme and Bermuda’s future growth. It’s not just about selling homes—it’s about creating lasting opportunities. Multiplying our experience by 10, 50, or 100 could generate significant new jobs for Bermudians.”

“The EIRC certificate process was much easier than I expected, especially knowing the complexities with immigration and work permits. The BDA’s white-glove service, with Kyle’s personal attention to detail, made a tremendous difference. They delivered exactly what was promised, with a ribbon on top.”

For more information on the Economic Investment Residential Certificate and how to apply, visit bda.bm.

Posted August 19th, 2024 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

Are you passionate about uncovering insights and driving strategic decisions with data? The Bermuda Business Development Agency is looking for a dynamic and detail-oriented Research & Intelligence Facilitator to join our team and to provide assistance to the Business Development Managers with special projects and business development initiatives.

This is an excellent opportunity to play a critical role in gathering, analyzing and disseminating valuable information that supports strategic decision-making across the organization. This role requires a proactive individual with strong research skills and the ability to translate complex data into actionable insights. The ideal candidate will also be adept at using various research methodologies and tools to provide intelligence that drives business growth, innovation and operational efficiency.

The Research & Intelligence Facilitator will require a blend of analytical, technical and interpersonal skills to be able to support a data-driven approach to decision-making within this role. The position will suit a team player who understands the business environment, industry dynamics and market forces. It will require an individual who keeps up to date with industry trends, news and developments to successfully identify and interpret market trends and patterns.

MAIN DUTIES AND RESPONSIBILITIES

Working with the Research & Intelligence Manager, Business Development Managers and focus groups, provide support with translating ideas into actionable business development plans. Assist with formulating tactics to effect strategy and implement strategic plans.

Assist with the development of a proactive strategy to mine prospective business across targeted sectors and various regions to build a working pipeline of prospective new business

Provide support to the Business Development Managers to assist with building, developing and leveraging business relationships with international and local partners, align research efforts with business objectives

Assist the Research & Intelligence Manager with the Salesforce system, monitoring all new business opportunities, ensuring follow-up activities are complete and the system updated accordingly

Support the Business Development Managers engagement with the members and focus groups, understanding all industry sector requirements related to events, conferences, infrastructure, issues and product development

Assist with establishing ongoing communication with stakeholders, including scheduling meetings, retrieving updates for the Board, press coverage and media

Conduct thorough research using a variety of sources, including databases, publications and surveys to gather relevant information on industry trends, market conditions and emerging technologies.

Monitor and analyze ongoing product development initiatives, strategies and business development activities in competitor jurisdictions

Analyze and interpret data to identify patterns, trends and insights that can inform strategic decision-making

Synthesize research findings into clear, concise and impactful reports, presentations and dashboards for various stakeholders, providing recommendations for innovative solutions-based research findings

Assist the Research & Intelligence Manager with quality engagement and coordination of Economic Investment Research Certificate concierge services for U/V/HNWI’s

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

Bachelor’s degree in Business, Economics, Market Research, Data Science or a related field

At least 3 years of experience in research, market intelligence, data analysis or related role

Proven experience with interpreting and analyzing qualitative and quantitative data

Ability to assess complex information and to draw logical conclusions

High level of attention to detail, accuracy and thoroughness in research findings and reports

Experience with databases and CRM software to manage and extract relevant data preferred

Advanced skills in Microsoft Excel for data manipulation and analysis; with the ability to create charts and graphs using tools such as MS PowerPoint and Power BI

Ability to create clear, concise and insightful reports and to present research findings effectively to stakeholders

Develop and maintain relationships with U/V/HNW clients, colleagues and industry partners

Excellent prioritization skills for task management, time management and to meet deadlines

Excellent interpersonal skills and the ability to work well within a team

Resourceful and effective at problem solving

The BDA is a public/private partnership with a mission to grow and diverisify Bermuda’s economy.

Applications to be emailed to bdahr@ontru.bm on or before close of business on August 30, 2024

For Bermudians or Spouses of Bermudians only

Posted July 19th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, July 19^th 2024: The Bermuda Risk Summit is set to take place from March 10-12, 2025, at the Hamilton Princess & Beach Club. This premier event promises to bring together industry leaders and experts for three days of insightful discussions and networking opportunities.

Kendaree Burgess, COO of the Bermuda Business Development Agency, remarked, ” The 2025 Bermuda Risk Summit is a must attend event for Bermuda’s Risk sector, bringing together industry thought leadership, innovation and interest from those seeking to make Bermuda their domicile of choice. This event highlights Bermuda’s leadership in risk management and offers a unique platform for industry experts to network and collaborate.”

The 2024 Bermuda Risk Summit saw over 450 attendees, with 40% traveling from 30 different countries. The summit featured 50 industry-leading speakers, addressing crucial topics that shape the risk management landscape.

Sponsorship Opportunities

Sponsorship opportunities for the Bermuda Risk Summit 2025 are now available! Sponsors will have the chance to gain significant visibility and connect with influential leaders in the risk management sector.

If you are interested in sponsorship, click here or email bermudarisk@bda.bm.

Early Bird Registration and Accommodation

Members of the public are encouraged to register early. An early bird rate of $395 will be available until September 30.

To avoid disappointment, click here to reserve your hotel room online or call 1-441-295-3000, or the Global Reservations Centre at 1-800-441-1414, using the booking code: ‘Bermuda Risk Summit’ to take advantage of our preferred rate.

For more information, please visit our website or contact us at bermudarisk@bda.bm.

Posted July 10th, 2024 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

At the Business Development Agency (BDA), we are dedicated to driving innovation and excellence in our industry. We pride ourselves on our mission to facilitate and lead efforts to promote Bermuda and to consistently deliver outstanding value to our stakeholders. Join our team and be part of a forward-thinking organization where your talents will help shape the future.

The Public Relations & Communications Manager (PR & Comms) is a full-time role within the BDA. The ideal candidate will be responsible for developing and implementing communication strategies to enhance our Company’s brand, public image and reputation.

This position involves managing media relations, crafting compelling content, and coordinating with internal and external stakeholders to ensure consistent messaging.

MAIN DUTIES AND RESPONSIBILITIES

Develop and implement comprehensive communication strategies to support the Company’s goals and objectives

Build and maintain relationships with journalists, social media influencers and other media representatives.

Monitor media coverage and social media conversations to identify trends, opportunities and potential risks, and develop appropriate responses

Produce high quality and engaging content, including press releases, speeches, articles, newsletters and social media posts, ensuring all communications align with the Company’s brand and message

Develop and execute crisis communication plans to address potential threats to the Company’s reputation

Collaborate with cross-functional internal teams to ensure cohesive communication across the organization and to provide communication support for various initiatives

Oversee the Company’s social media presence, creating and curating content that drives engagement and supports brand objectives

Manage public relations events, including product launches, media tours and community outreach programs to generate media interest and coverage

Measure and analyze the effectiveness of PR and communication campaigns and initiatives using a variety of analytics tools.

Prepare regular reports on PR and communication activities, providing actionable insights and recommendations for improvement.

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

University Degree in Business, Public Relations, Marketing, Communications or a related field

In-depth understanding of media and public relations and experience in developing a comprehensive PR strategy

PR or Communications certificate such as an APR, CPRL or PRCP

5 plus years of Public Relations, corporate communications or related experience

Ability to identify and coordinate relationships with relevant partners for outsourcing media activities to PR companies and marketing agencies

Experience/knowledge of the Bermuda market an asset

Ability to lead the media buying process

Proficient in using social media platforms and digital communication tools

Ability to set up data-driven tools to assess the effectiveness of marketing campaigns

Strong written and verbal communication skills, with the ability to write press releases, blog articles and contribute to writing marketing collateral

Excellent analytical and problem-solving skills

The BDA is a public/private partnership with a mission to grow and diversify Bermuda’s economy.

Applications to be emailed to BDAHR@ontru.bm on or before close of business on July 29, 2024.

Posted July 5th, 2024 by Melvin Dickinson & filed under News.

SUMMARY OF THE ROLE

Are you a strategic marketing, communications, and events leader with a passion for crafting compelling narratives, implementing strategic communications, driving brand growth, and executing world-class events? We are seeking a dynamic Head of Marketing, Communications and Events to lead our efforts to build and elevate our brand and connect with our audience in innovative and impactful ways.

The Head of Marketing, Communications & Events (MCE) is a full-time leadership role within the BDA. Working in conjunction with the CEO and Head of Business Development to spearhead the strategic direction of the agency.

This position will be responsible for developing and executing integrated strategies to promote the BDA brand, products, and services in order to ensure that events and marketing KPIs are being met.

MAIN DUTIES AND RESPONSIBILITIES

In agreement with the CEO and Head of BD, develop and implement comprehensive marketing and communications plans that support the company’s overall objectives and growth targets

Lead the creation of compelling marketing collateral, content, and campaigns across various channels, including, digital, social media, email, print and events

Through an in-depth understanding of the Bermuda economy, identify innovative marketing opportunities through market research and analysis

Collaborate with Head of Business Development and Business Development Managers to agree positioning strategies for pillars of success

Manage the company’s brand identity, ensuring consistency and alignment across all communication touchpoints

Oversee the planning and execution of events, conferences, and promotional activities to engage customers, partners and stakeholders

Collaborate with cross-functional teams to align marketing and communication initiatives with business goals

Monitor and analyze marketing trends, customer insights and competitive landscapes to identify opportunities and to optimize marketing strategies

Monitor and manage the performance of the MCE team

Manage and implement work planning in alignment with set objectives as agreed with the CEO

Negotiate sponsorship arrangements

Budget and oversee the production of events

Align events and apply KPIs & metrics to event outcomes

Build and maintain relationships with media outlets, influencers, and industry partners to enhance brand visibility and reputation

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

University Degree in Business, Marketing, Communications or other related field

10 plus years of experience in a relevant field

Experience/knowledge of the Bermuda market would be an asset

Experience collaborating with local partners and government officials

Proven ability to design, brand, lead and implement a marketing and communications strategy

Solid understanding of marketing and communication principles, strategies and best practices across digital and traditional channels

Understanding of business development principles and best practices

Leadership experience with a focus on team development, goal setting and performance management

Experience with media and public relations

Strong oral and written communication skills with the ability to craft compelling messages and narratives

Strategic mindset with proven analytical and problem-solving skills to drive data-driven decision making

Ability to thrive in a fast-paced, dynamic environment and effectively manage multiple projects and priorities

The BDA is a public/private partnership with a mission to grow and diverisify Bermuda’s economy.

Applications to be emailed to hrbda@ontru.bm on or before close of business on July 22, 2024

Posted June 6th, 2024 by Melvin Dickinson & filed under Legislative Updates.

1. What is the Economic Investment Residential Certificate?

The Economic Investment Residential Certificate (EIRC) enables individuals — plus their spouse and minor dependents — who invest $2.5 million in certain Bermuda industries, sectors, charities, or government programs to receive residency rights. If the spouse or dependent of a Residential Certificate Holder desires to work in Bermuda, they will be subject to the Bermuda Work Permit Policy. Learn more about the EIRC here.

2. How do I apply?

To begin the application process, please contact the Bermuda Business Development Association (BDA) stating your interest in the EIRC. (The contact form is available here.) After you submit the form, a BDA representative will contact you to begin the application process. This representative will also serve as a guide and resource throughout the application process.

3. What investment options are eligible for the EIRC?

Prospective EIRC recipients who meet the eligibility criteria can invest via several different ways, including: buying real estate (residential or commercial); contributing to Bermuda’s Sinking Fund or the Bermuda Trust Fund; donating to a Bermuda registered charity; making an equity investment in an existing Bermuda-based business, excluding exempted undertakings; launching a new Bermuda-based business; or investing in a social or other venture benefiting Bermuda, as approved by the Minister responsible for Economy and Labour.

4. What information is needed to apply?

Each submission shall contain the following elements, based upon the investment category type and the mix of investments:

Cover Letter

A letter of application should be attached

Personal Data Sheet

Basic personal information is required in order for the certificate to be issued. The following is required:

Data completed in its entirety

Evidence of enhanced due diligence/security vetting by the law firm, financial adviser, or other third parties

Two personal references

Two business references

Verified copy of a valid passport, and dependent passports (if applicable), birth certificate

Marriage certificate (if investing jointly with a spouse)

Investment Annexes

The following information should be included, based upon the investment made, and as applicable.

Purchase of real estate (residential or commercial)

Evidence of sale (an executed purchase-sale agreement, documentation from Land Registry), proof of letter of intent or evidence of investment

Signed land license

Contribute to Bermuda’s Sinking Fund to reduce the debt

The Ministry of Finance oversees the Sinking Fund. Further information can be found via the Ministry of Finance.

Donate to a Bermuda Registered Charity

Proof of registered charity (list of registered charities, letter from the Charities Commission

Evidence that donation has been made

Business plan/operating plan for the charity (if it is a new charity)

Audited annual report

Charity funding proposal/donor pitch — details of how the funds are to be used

Equity investment in an existing Bermuda-based business, excluding exempted undertakings

All equity investments are subject to the regime in place under the Companies Act 1981. Any exemptions, modifications, or relaxations to the current restrictions around Bermudian/Non-Bermudian ownership proportions must be addressed.

Evidence that equity investment was made (investment agreement, shareholder’s agreement, partnership agreement, certificate of shareholding, etc.)

Company letter of good standing with office of the Tax Commissioner, social insurance, compliance with health insurance requirements

Launch a new Bermuda-based business

The government seeks assurance and understanding that:

The company has been created

It will be a viable business that is likely to succeed over the long term

It will likely result in job creation in Bermuda

Good governance and management will be in place at the company

Registration of incorporation details from the Registrar of Companies

Evidence the investment has been made (confirmation of company bank balance)

Copy of share register with share value

Evidence of payroll tax identification number

Summarized (abstract) executive summary of business plan and pro-forma financial projections

List of directors and their qualifications and evidence of fit and proper standing

Invest in a social or other venture benefiting Bermuda, as approved by the Minister

This provides for a bespoke investment type and the documentation requirements will be determined in collaboration with the concierge service.

5. How much does the application cost?

The application fee is $2,625.

6. Does the EIRC expire?

No, the EIRC does not expire.

7. Can I complete the process entirely online?

The initial expression of interest can be completed online. After that a dedicated concierge team member will work with you throughout the application process.

8. What will I receive to signify that I have been approved?

Approved applicants will receive an acknowledgement that their EIRC has been approved via email.

9. Why was this programme created?

This programme was created to stimulate economic growth in Bermuda and to attract business leaders from around the world to live and work in Bermuda.

10. Why is Bermuda only targeting high net worth individuals?

The EIRC is available for HNWs however Bermuda has other residency and work permit programmes available as well, including the Work from Bermuda programme, which offers applicants the opportunity to work remotely in the country for a year.

11. Do family members have to apply separately?

No, applications should include spouses and dependents whom the applicant wishes to include in the certificate.

12. Are certificate holders’ children allowed to attend local schools?

Yes, children may attend public or private schools.

13. Can I bring my pet? Do they have to quarantine?

You can find information about bringing a pet into Bermuda here.

14. Once an application is approved, when do I attain residency status?

Resident status begins the date the EIRC is issued.

15. How many applications does the government expect to approve? Is there a maximum?

There is not a maximum number of certificates being issued.

16. What is the difference between EIRC, the Economic Investment Certificate and a Residential Certificate?

EIRC replaces the previous Economic Investment Certificate and Residential Certificate policies. Holders of a Residential Certificate are eligible to reside in Bermuda with their families indefinitely. Holders of the certificates can work in the company in which they have invested, if applicable, subject to the Work Permit Policy.

17. Is it possible for qualifying investments already made to be “grandfathered” in and considered for the certificate?

The EIRC Policy is designed to be flexible to allow for a variety of different circumstances. There is provision within the policy (in Section 8, page 4) to allow for approval of investments made in the past. Individuals who previously made substantial economic investments in Bermuda will likely contribute more to Bermuda if they have additional security of tenure. Applications under this section will be considered on a case-by-case basis, and decisions will be based on the merits. However, the $2.5 million investment requirement still needs to be met and the same criteria as described in the policy would apply. In the end, the Minister will consider EIRC applications with these principles in mind.

Posted May 27th, 2024 by Melvin Dickinson & filed under News, Press Release, Uncategorized.

The Bermuda Business Development Agency (BDA) will hold its second Bermuda Reception at Consensus, the world’s largest gathering of digital asset, blockchain and Web3 enthusiasts in Austin, Texas this week.

Kendaree Burgess, COO of the BDA said, “Bermuda continues to build on its reputation as a global thought leader in the realm of robust yet pragmatic digital asset regulation and supervision, as recently evidenced by the appointment of Sheila Warren, CEO of the Crypto Council for Innovation, to the board of the Bermuda Monetary Authority (BMA).”

Ms. Burgess continued, “Our Bermuda reception provides all local delegates and their guests the opportunity to take a virtual lap around Hamilton, with organisations like the BMA, service providers and government all present. The accessibility of the event mimics the ease of doing business and making connections in Bermuda.”

Bermuda’s reception will be held on Thursday, May 30 from 5pm to 7.30pm. Attendees will enjoy Bermuda entertainment and could win a weekend trip for two to Bermuda courtesy of BermudAir and The Loren Hotels. Email events@bda.bm to RSVP.

During their time at Consensus, the BDA and other members of the Bermuda delegation will hold business development meetings with key leaders expressing an interest in setting up operations in Bermuda. If you wish to meet with team Bermuda at Consensus, email the BDA’s Business Development Manager, Korrin Lightbourne at korrin@bda.bm. If you want to learn more about more about how the BDA’s dedicated concierge service can assist you with setting up your next investment in Bermuda, email info@bda.bm.

The BDA thanks all our ‘Bermuda Reception at Consensus‘ silver sponsors including Bermuda Tourism Authority, BermudAir, The Loren Hotels, Gosling’s, and Walkers.

The BDA’s presence at Consensus 2024 aligns with the ‘Local and International Business Retention’ and ‘Business Attraction and Investment Promotion’ strategic priorities outlined in Bermuda’s Economic Development Strategy.

Posted April 30th, 2024 by Melvin Dickinson & filed under News.

The Bermuda Business Development Agency (BDA) invites applications for the role of Head of Business Development.

SUMMARY OF THE ROLE

Join us as the vibrant Head of Business Development. Focused on attracting foreign direct investment, you will lead the charge in uncovering growth avenues across diverse regions. If you have a proven track record in developing and leading teams and thrive on delivering value to customers and stakeholders amidst intricate business environments, this prospect awaits you!

This is an excellent opportunity to play a pivotal role in identifying new business opportunities to diversify the Bermuda economy and expand our market presence. You will create and support initiatives to drive GDP growth and ensure alignment with the Economic Development Strategy. Additionally, you will cultivate engaging and supportive relationships with international customers as you focus on developing a robust pipeline of investors, promoting Bermuda as the perfect destination for their companies.

This position will suit a flexible team player who is a motivated self- starter with a genuine passion for attracting high-quality foreign direct investment. It will require a forward-thinking, data-driven mindset to identify emerging trends and capitalize on opportunities for sustainable growth. Board/Director level engagement is required.

MAIN DUTIES AND RESPONSIBILITIES

Provide leadership and management of business development and support teams, fostering a team-based culture, ensuring positive outcomes that drive BDA and group KPIs across the organization

Lead collaboration with all internal teams within BDA, vendors, and all key external partners and stakeholders

As part of the senior leadership team, develop and implement comprehensive business development plans aligned with the company’s objectives and growth targets, that support economic growth and diversification of Bermuda’s economy

Through an in-depth understanding of the Bermuda economy, identify market opportunities and create strategic plans to attract and convert target clients (supported by market research and jurisdictional analysis)

Responsible for the acquisition of new business; lead generation, negotiation and conversion of high-value contracts and partnerships

Monitor and report on industry trends, competitive landscapes, and regulatory developments to identify opportunities and risks

Provide management to the Business Development team and ensure creation and success of annual KPIs for individuals and group

Undertake additional tasks and responsibilities as may be reasonably expected of the role to achieve organizational and stakeholder objectives

ESSENTIAL QUALIFICATIONS, SKILLS & EXPERIENCE

University Degree in Business, Finance or Economics; MBA or Masters degree preferred

Work experience can replace an advanced degree

Economic Development certification such as CEcD or CBDE preferred

10 plus years of Business Development experience and of successfully leading a Business Development team

At least 2 years working in an economic development industry or adjacent sectors involved in business development and jurisdictional messaging/communication (economic/government/private sector experience preferred)

Experience/knowledge of the Bermuda market, its international business sector and global positioning

Proven experience with designing, leading and implementing business development strategy initiatives

Experience using a CRM system to manage a sales team and pipeline of leads

Proven track record of success in business development, sales, or related roles

Solid understanding of business development principles, strategies and best practices

Excellent written, oral and presentation skills at all levels including presenting information at Board/Director level

Expert negotiating skills and knowledge of commercial agreements and frameworks

Strategic mindset with proven analytical and problem-solving skills to drive data-driven decision making

Leadership experience with a focus on team development, goal setting and performance management

Willingness to travel internationally

ABOUT US

The BDA is a public/private partnership with a mission to grow and diverisify Bermuda’s economy.

Applications to be emailed to hr@bda.bm on or before close of business on May 14th 2024.

Posted April 25th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, April 25 2024: Bermuda-based employees from member companies of the Association of Bermuda International Companies (ABIC) and the Association of Bermuda Insurers and Reinsurers (ABIR) will be attending RISKWORLD 2024, the annual conference of RIMS, the world’s largest risk management community, in San Diego, California.

In addition, the Bermuda Reception at RISKWORLD 2024, presented by the Bermuda Business Development Agency (BDA), already has close to 200 registered attendees.

Patrick Tannock, Chairman of ABIC and CEO of AXA XL Insurance in Bermuda, said: “The annual RIMS conference provides a key opportunity for local delegates to advocate Bermuda’s value proposition as a dynamic, high quality, solution-oriented jurisdiction where capital is put to work in addressing current and evolving complex risks. With thousands of industry stakeholders expected to attend, it’s the perfect platform to connect with US risk management professionals.”

John Huff, CEO, ABIR, said: “Bermuda’s reinsurers represent one third of the global property and casualty reinsurance market, and as such, ABIR is a longtime supporter of RIMS’ annual conference. We expect our member companies to once again continue the tradition of a strong showing of support of and attendance at RISKWORLD 2024.”

This year Kendaree Burgess, COO, BDA will attend RISKWORLD alongside representatives from the Bermuda Monetary Authority and the Bermuda Government.

Ms. Burgess said: “We look forward to meetings with key prospects and promoting awareness of Bermuda’s globally significant risk and insurance market at RISKWORLD 2024.”

The Bermuda Reception will be held on Tuesday, May 7 from 5pm-7:30pm at the Sparks Gallery at 530 Sixth Ave., where hundreds of industry leaders will enjoy C-Suite networking, Bermuda entertainment and cocktails, and the chance to win a weekend getaway for two to Bermuda. The BDA thanks our Platinum sponsor, Chubb, and our silver sponsor, KPMG, as well as our partners BermudAir, Hamilton Princess & Beach Club, and Goslings.

Click here, or contact us at info@bda.bm if you are interested in sponsoring the Bermuda Reception, or learning more about how the BDA can assist you with setting up your next investment in Bermuda.

Bermuda’s risk and insurance industry is a major driver of Bermuda’s economy – the BDA’s presence at RISKWORLD aligns with the ‘Local and International Business Retention’ and ‘Business Attraction and Investment Promotion’ strategic priorities outlined in Bermuda’s Economic Development Strategy.

Posted April 16th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, April 16 2024: The Bermuda Business Development Agency (BDA), in partnership with Chubb, is proud to host a Bermuda Reception at RISKWORLD 2024, the annual conference of RIMS, the world’s largest risk management community, in San Diego, California.

The Bermuda Reception will be held on Tuesday, May 7 from 5pm-7:30pm at the Sparks Gallery at 530 Sixth Ave., where hundreds of industry leaders will enjoy C-Suite networking, Bermuda entertainment, and the chance to win a weekend getaway for two to Bermuda.

Kendaree Burgess, COO, BDA said, “As the world’s risk capital, the BDA is proud to continue Bermuda’s tradition of having a presence at RIMS’ annual conference. The BDA thanks our valued partners, including Chubb, who came on board as our platinum sponsor. The location of RIMS 2024, in California, is important to Bermuda as a number of the industries the BDA focuses on, such as Tech, Insurance & Reinsurance are domiciled there. Our presence there will give us an opportunity to look beyond the traditional insurance sector and into ways to diversify our local economy.”

The BDA also wishes to thank our airline partner BermudAir, our hotel partner Hamilton Princess & Beach Club and our spirits partner Goslings.

Click here or contact us at info@bda.bm if you are interested in sponsoring the Bermuda Reception at RISKWORLD 2024, or learning more about how the BDA can assist you with setting up your next investment in Bermuda.

Posted March 22nd, 2024 by Melvin Dickinson & filed under News.

David Hart has stepped down as the CEO of the Bermuda Business Development Agency (BDA) after two and a half years.

Michael Hanson, Chair, BDA said, “It is a fitting time in the BDA’s strategic evolution to thank David for his service to Bermuda. David’s leadership through our post Covid build-out phase was invaluable in re-establishing the Bermuda brand in our most important regions. As we continue our pivot to a more data driven foreign direct investment agency, David’s ongoing assistance and contribution to the process has been exemplary. We wish David and his family all the best as they move on to their exciting next chapter. We are also grateful to have strong leadership in place through Kendaree Burgess, COO, whose knowledge of and success in both the public and private sectors along with oversight of our board and independent directors will continue delivering on our mission of driving foreign direct investment to Bermuda in line with Bermuda’s Economic Development Strategy. We are excited for the next chapter and look forward to providing more updates in the coming months.”

Mr. Hart said, “It has been such an honour to serve Bermuda in this important post and work with such an extraordinarily fine team. After two and a half years of nearly constant overseas travel, it is time for me to transition back to Florida to spend more time with my family, including our first grandchild who is due to arrive in the coming months. I will forever count myself as an ambassador for Bermuda and look forward to finding ways to assist Bermuda’s ongoing economic growth. As the organisation completes its metamorphosis into a best-in-class Investment Promotion Agency, I have every confidence that the BDA will continue to capitalise on future opportunities to further develop and diversify Bermuda’s economy.”

Bermuda’s Minister of Economy & Labour, The Hon. Jason Hayward, JP, MP said, “It has surely been a pleasure to work with David, as he has proven to be a true ambassador for Bermuda. I was able to appreciate his level of professionalism and his commitment to promoting Bermuda’s value proposition, as we worked together on many overseas economic development missions. I wish him all the best in his future endeavors.”

Posted March 18th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, March 18 2024: 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, has once again had a strong showing of overseas support, with 40% of its 450-plus delegate-list attending from overseas.

The immediate economic impact of the 2024 Bermuda Risk Summit, held at the Hamilton Princess & Beach Club, March 13-15, including lodging, transportation, food and beverage, retail and recreation was estimated at $3.4 million, supporting 432 jobs. Far more significant were the long-term economic benefits brought about by the additional visitors who flew to Bermuda for business meetings during the week of the summit.

Fiona Luck, Lloyd’s Council Member, Convex Group INED said, “I congratulate the BDA on another successful Bermuda Risk Summit, further cementing Bermuda’s position as a globally significant insurance and reinsurance centre. It was extremely gratifying to be able to make the exciting announcement at the summit about a commitment made between Lloyd’s of London and the Bermuda Monetary Authority (BMA) to enhance the sharing of risk expertise between the two markets via education academies and innovation through the Lloyd’s Lab and Bermuda Insurance Sandbox.”

Soraya Wright, Global Head of Corporate Risk & Claims, Amazon said, “The Bermuda Risk Summit reminded me of the foundation for which this market was established, and that is, to help clients manage and seek solutions for their most vulnerable global risk. The information that was shared was a reminder of the legacy that exists in Bermuda and is more crucial than ever because of the risks that we face today.”

John Huff, CEO, ABIR said, “In three short years, the Bermuda Risk Summit has established itself on the global calendar as the place to be for industry thought leaders, supervisors, stakeholders, and (re)insurance media. Once again, collaboration contributes to the Bermuda market’s value proposition and ABIR was pleased to join EY as a headline sponsor of the 2024 edition.”

David Hart, CEO, BDA said, “Each year, the Bermuda Risk Summit grows from strength to strength – this year we had a record number of US insurance regulators attend, including the heads of the National Association of Insurance Commissioners (NAIC) and Federal Insurance Office (FIO), US Department of Treasury. The thought leadership conversations taking place at our summit continue to progress and we were so proud that we were able to share Bermuda’s unparalleled risk expertise with the next generation, including over 20 students and faculty from Eastern Kentucky University, Florida State University and Bermuda College who recieved either complimentary or discounted registrations.”

Keynotes were 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, and, Steven Seitz, Director, US Department of Treasury, Federal Insurance Office on day three.

A panel of Bermuda reinsurance CEOs began the conference by offered a unique perspective on ‘Putting Capital to Work’ while a stellar group of reinsurance royalty, including Sir John Swan and Brian O’Hara, described the origins of Bermuda’s risk market pre-Hurricane Andrew on day two. Generative AI, catastrophic cyber risk and geopolitics were all discussed on day three.

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 P.A. and Teneo and supporting sponsors Advantage Go, Aon, Rein4ce and Walkers. Our airline partner was BermudAir and our spirits partner was Gosling’s.

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.

Posted March 11th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, March 11 2024: 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.”

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 P.A. 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% 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.

Posted February 29th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 29 2024: A panel of Bermuda reinsurance CEOs offer a unique lens into optimising capital deployment, risk management, and the dynamic forces shaping the industry’s future at the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY.

The panel entitled, ‘Putting Capital to Work: A View From the Top’ will be moderated by John Huff, CEO, ABIR and features panelists, Peter Bell, CEO and Managing Director, Everest Reinsurance Bermuda, Mark Cloutier, Executive Chair and Group CEO, Aspen, Kathleen Reardon, CEO, Hiscox Re + ILS, and Paul Simons, CEO, Convex Re.

John Huff said, “It is a pleasure to once again be moderating a panel at the Bermuda Risk Summit, which ABIR has been a headline sponsor of since its inception three years ago. I look forward to asking these CEOs why Bermuda remains the world’s risk capital, as well as discussing our global prominence as a property and casualty market. It also speaks to Bermuda’s significance that we continue to attract such regulatory heavy hitters, including the President of the National Association of Insurance Commissioners (NAIC), four NAIC commissioners, as well as Steven Seitz, Director of the Federal Insurance Office (FIO), all travelling to participate in the summit.”

Mark Cloutier said, “The summit comes at a time of strong performance from the Bermudian reinsurance sector which makes it the perfect time to reflect on what we are doing well as an industry, as well as how we can seek to improve. One of the most unique aspects of Bermuda’s risk market is how you can gather the most influential players, from government, to the regulator and the private sector all in the same room to collectively think about where the risk and insurance industry needs to go next.”

Other panels taking place at the Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 13-15 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. Potential delegates are encouraged to register before the end of our price discount period on March 6.

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 and Teneo and supporting sponsors Advantage Go, Aon, Rein4ce and Walkers. Our airline partner is BermudAir and our spirits partner is Gosling’s. Other sponsorship opportunities are still available. Click here and e-mail bermudarisk@bda.bm if you wish to participate.

All registered delegates qualify to receive 20% 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.

Posted February 15th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 15, 2024: Insurance industry thought leader Frank Schmid, will kick off a series of panels on cyber risk, InsurTech and AI on day three of the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY.

Frank Schmid is Chief Technology Officer at Gen Re and a member of the executive board of Gen Re AG in Cologne. Previously, Frank was affiliated with AIG, the National Council of Compensation Insurance, and the Federal Reserve Bank of St. Louis.

“Generative Artificial Intelligence is General-Purpose Technology (GPT). Aside from generality of purpose, a defining quality of a GPT is the emergence of a feedback loop between downstream innovation and continued improvement of the technology,” Dr. Schmid said. “Past arrivals of GPTs have shown that the gains to the firm are not so much achieved by improving the way given tasks are performed. Rather, the bulk of productivity gains occur by the firm reorganising itself. This makes the insurer’s organisational adaptability critical to business success.”

Dr. Schmid will be introduced by Sophia Yen, Principal, Insurance Strategy & Innovation Leader, EY. Other panels taking place on the final day of the Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 13-15 include: ‘Securing Tomorrow: Developments in Cyber Risk Strategy’, ‘Tradition vs Transformation: Embracing InsurTech Innovation’, ‘Riding the Digital Wave: The Role of AI in Insurance Evolution’, ‘Market View: Investor Trends’, ‘Market View: Rating Agencies’, and ‘Geopolitical Insights and Insurance Dynamics’.

A full agenda is available online. Potential delegates are encouraged to register prior to March 1, the end of our price discount period.

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 and are pleased to report that AM Best, and SS&C Technologies, Inc. are gold sponsors, Kirkland & Ellis and KBRA are silver sponsors, Demotech, Docosoft, KPMG and Teneo are bronze sponsors, and Aon, Rein4ce and Walkers are supporting sponsors. Our airline partner is BermudAir. Other sponsorship opportunities are still available. Click here and e-mail bermudarisk@bda.bm if you wish to participate.

A small number of special price hotel rooms are still available; click here and book your room while supplies last. In addition, all registered delegates qualify to receive 20% 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.

Posted February 8th, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 8, 2024: Soraya Wright, Global Head of Corporate Risk & Claims at Amazon, will close the second day of the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY.

Ms. Wright has over 30 years of experience managing complex risks of global companies and currently serves as Global Head of Corporate Risk & Claims at tech giant, Amazon, and also serves as a California State Commissioner on the Fraud Assessment Committee. Previously, Wright served as a Vice President of Strategic Initiatives at RIMS, the risk management society and has worked for Target Corporation and The Clorox Company (for whom she created their captive insurance subsidiary). Ms. Wright has also served on the Client Advisory Board of several notable insurance firms such as FM Global and Willis Towers Watson, and is a frequent speaker on a broad range of risk management topics.

Ms. Wright’s keynote conversation will be with Patrick Tannock, CEO of AXA XL Insurance in Bermuda/ Chair, Association of Bermuda International Companies (ABIC).

Mr. Tannock said: “Bermuda is a dynamic and solution-oriented international business jurisdiction that has fostered a culture based on innovation and calculated risk. The Island’s strong, prudent yet pragmatic regulatory framework and speed to market are key attractions for business and have helped make Bermuda a global financial centre and hub for high-quality intellectual capital.”

“The Bermuda market’s ability and willingness to execute quickly to put capital to work to provide solutions to emerging risk issues is uniquely situated. In addition to this, one of Bermuda’s most significant strengths is its adaptability. In the face of new risks, the Island’s international business community has consistently demonstrated that it can evolve and respond quickly to meet those challenges and the ever-changing needs of its clients,” Mr. Tannock said, “I am looking forward to a thought-provoking discussion with Ms. Wright who is well known and respected in the commercial insurance industry.”

Other panels taking place on the second day of the Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 13-15 include: Lloyd’s – Bermuda: A Shared Perspective, Risk Revolution: Bermuda’s Journey to Becoming the World’s Risk Capital, Risk Solutions: All Roads Lead to Bermuda, Legacy Redefined, and Market View: Investor Trends

A full agenda is available online. Potential delegates are encouraged to register prior to March 1, the end of our price discount period.

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 and are pleased to report that AM Best, and SS&C Technologies, Inc. are gold sponsors, Kirkland & Ellis and KBRA are silver sponsors, Demotech, Docosoft, KPMG and Teneo are bronze sponsors, and Aon, Rein4ce and Walkers are supporting sponsors. Our airline partner is BermudAir and our media partners are The Insurer, Insurance Insider, Bermuda:Re+ILS and Insurtech Insights. Other sponsorship opportunities are still available. Click here and e-mail bermudarisk@bda.bm if you wish to participate.

We strongly encourage our overseas delegates to click here before February 13 to reserve hotel rooms online or call 1-441-295-3000, or the Global Reservations Centre on 1-800-441-1414, with the booking code: ‘Bermuda Risk Summit’ to take advantage of our preferred rate. All registered delegates will also qualify to receive 20% 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.

Posted January 23rd, 2024 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, January 23, 2024: A keynote conversation between Bermuda’s Premier David Burt and Marc Grandisson, CEO, Arch Capital Group Ltd. (Arch) will kick off the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY.

In 2021, Arch celebrated its 20^th anniversary as a Bermuda domiciled company, and in 2022, was added to the Standard & Poor’s 500 Index, joining a select group of other global Property & Casualty and Reinsurance companies listed on the exchange.

Premier Burt said, “I look forward to representing the Government of Bermuda and taking part in my third annual Bermuda Risk Summit keynote. The Government is proud to support this important event, which highlights Bermuda’s position as the world’s risk capital. It is an opportunity to engage with industry leaders and for potential new market entrants to experience our globally significant risk market first-hand on our shores, which will help them truly appreciate what makes Bermuda a unique risk and insurance solutions domicile.”

Mr. Grandisson said, “I am looking forward to discussing Bermuda’s successes and opportunities with Premier Burt on March 13. One of Bermuda’s core strengths is how government and the private sector work together to solve critical issues, and I thank the BDA and its partners ABIR and EY, for facilitating what I expect to be a fruitful conversation.”

Other panels being held on the opening day include Putting Capital to Work: A View From the Top, Market View: Global Regulators, A Climate Conversation, and Florida Reforms: Transformation or Illusion.

A full agenda for the Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 13-15, 2024, is available online. Potential delegates are encouraged to register prior to March 1, the end of our price discount period.

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 and are pleased to report that AM Best, and SS&C Technologies, Inc. are gold sponsors, Kirkland & Ellis and KBRA are silver sponsors, Demotech, Docosoft, KPMG and Teneo are bronze sponsors, and Aon, Rein4ce and Walkers are supporting sponsors. Our airline partner is BermudAir and our media partners are The Insurer, Insurance Insider, Bermuda:Re+ILS and Insurtech Insights. Other sponsorship opportunities are still available. Click here and e-mail bermudarisk@bda.bm if you wish to participate.

We strongly encourage our overseas delegates to click here before February 13 to reserve hotel rooms online or call 1-441-295-3000, or the Global Reservations Centre on 1-800-441-1414, with the booking code: ‘Bermuda Risk Summit’ to take advantage of our preferred rate. All registered delegates will also qualify to receive 20% 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.

Posted December 14th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, December 14, 2023: The theme of the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency, in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and EY, will be Evolution of Risk.

Topics up for analysis during the Summit to be held at the Hamilton Princess & Beach Club from March 13-15, 2024, include – putting capital to work: a view from the top; risk revolution: a journey to becoming the world’s risk capital; and riding the digital wave: the role of AI in insurance evolution. An agenda is available online – members of the public are encouraged to register before the early bird rate of $395 expires after tomorrow, December 15.

David Hart, BDA CEO said, “The BDA looks forward to once again bringing together some of the world’s foremost experts to discuss how Bermuda’s globally significant risk market can help companies protect themselves against climate change, geopolitical uncertainties, cyber threats, and a growing list of new perils. For the last three years, the Bermuda Risk Summit has been strategically positioned in front of the mid-year renewal season, not only offering deal-making opportunities, but also the ability to hear firsthand from international regulators, investors, and rating agencies.”

In addition to innovative content, registration includes keynote presentations, C-suite networking breaks and lunches, an opening reception sponsored by SS&C Technologies, and a Friday networking happy hour. The BDA is pleased to report that AM Best have recently come on board as gold sponsor, Kirkland & Ellis as silver sponsor, and Demotech as bronze sponsor. Other sponsorship opportunities are still available. Click here and e-mail bermudarisk@bda.bm if you wish to participate. We encourage our overseas delegates to click here and reserve hotel rooms online or call 1-441-295-3000, or the Global Reservations Centre on 1-800-441-1414, with the booking code: ‘Bermuda Risk Summit’ to take advantage of our preferred rate.

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.

Posted November 16th, 2023 by Melvin Dickinson & filed under News, Press Release.

ABIR and EY Return as Headline Sponsors

Hamilton, Bermuda, November 16, 2023: The Association of Bermuda Insurers and Reinsurers (ABIR) and EY have reaffirmed their headline sponsorship commitments of the Bermuda Business Development Agency’s 2024 Bermuda Risk Summit.

Members of the public are encouraged to register soon for the event, taking place at Hamilton Princess & Beach Club from March 13-15, 2024 – an early bird rate of $395 will be available until December 15.

David Hart, BDA CEO said, “The BDA thanks ABIR and EY for returning as headline sponsors for the third year in a row. We are proud to once again host our Bermuda Risk Summit to showcase and celebrate Bermuda’s position as the risk capital of the world. It is an event that brings so much value to Bermuda’s globally significant risk and (re)insurance market, including its strategic positioning on the calendar in front of the mid-year renewal season, as well as C-suite networking opportunities and being able to hear firsthand from international thought-leaders. We cannot wait to make this year’s summit its biggest and best yet.”

John Huff, President & CEO, ABIR said, “As part of our continued long-term commitment to Bermuda and our international market, ABIR and its member companies are pleased to once again support the Bermuda Risk Summit. ABIR’s aim in supporting this event is to provide our members and stakeholders with ideal opportunities to meet new and existing clients, to share ideas and best practices in person and to foster customer-driven solutions to close the global protection gap.”

Craig Redcliffe, Partner and Regional Insurance Leader, EY said, “We are excited to be back as Headline Sponsor of the third annual Bermuda Risk Summit. Over the last two years, we’ve seen the Summit go from strength to strength and we look forward to once again leveraging our global networks, engaging with industry participants, and collaborating with the BDA to showcase all that Bermuda’s leading global (re)insurance market has to offer.”

The BDA is also pleased to announce that SS&C Technologies have come on board again to sponsor our opening reception. Other sponsorship opportunities are still available. Please click here and e-mail bermudarisk@bda.bm if you wish to participate.

In addition to innovative content, registration includes keynote breakfasts, networking breaks and lunches, an opening reception, and a Friday evening wrap party. To avoid disappointment, click here to reserve your hotel room online or call 1-441-295-3000, or the Global Reservations Centre on 1-800-441-1414, with the booking code: ‘Bermuda Risk Summit’ to take advantage of our preferred rate.

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. This figure included approximately 100+ additional visitors who flew to Bermuda for business meetings in advance of the June 1 renewal season, as well as ancillary events taking place the week around the Bermuda Risk 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.

Our Bermuda Risk Summit media partners are The Insurer, Insurance Insider, Bermuda:Re+ILS and Insurtech Insights.

Posted November 2nd, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, November 2, 2023 — The Bermuda Business Development Agency (BDA) returned to InsureTech Connect (ITC) in Las Vegas, Nevada this week.

Bermuda’s Premier, The Hon. David Burt spoke yesterday on the ITC main stage during a keynote conversation with past-BDA chair, Stephen Weinstein entitled: “Bermuda: Bridging Risk Capital Leadership with a Blooming Innovation and Tech Ecosystem.”

Premier Burt said, “It is the perfect time for Bermuda to be returning to InsureTech Connect, not only for the opportunity to remind attendees that Bermuda remains the world’s risk capital from the main stage, but also for the multiple business development opportunities brought about by having another in-person presence at the world’s largest insuretech event. We look forward to continuing to share the advantages of our blue-chip jurisdiction, including Bermuda’s regulatory excellence, abundance of human capital, and spirit of innovation.”

Korrin Lightbourne, Senior Business Development Coordinator also attended on behalf of the BDA.

The BDA’s attendance at ITC comes on the heels of our recent fifth annual Bermuda Tech Summit and a business development mission to London, UK where we held business development meetings with leading global capital allocators, wealth managers and tech companies and incubators to discuss Bermuda’s aspirations to develop and grow its technology, high net worth services and climate risk solutions / asset management industries.

This work aligns with the ‘Local and International Business Retention’ and ‘Business Attraction and Investment Promotion’ strategic priorities outlined in Bermuda’s Economic Development Strategy.

Posted October 16th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, October 16, 2023 – The fifth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA) has been hailed a great success by sponsors, speakers, and attendees.

The Bermuda Tech Summit attracted over 330 registrants at the Hamilton Princess & Beach Club over the course of October 8-10. The immediate economic impact of this event including lodging, transportation, food and beverage, retail and recreation was estimated at $321,825 and supported 109 local jobs.

David Hart, BDA CEO said, “On behalf of the BDA, I want to thank our partners, sponsors, speakers and engaged guests for making this such an incredible Tech Summit that showcased Bermuda’s dynamic and growing tech sector and innovation leadership. It is important to point out that the BDA’s efforts to promote Bermuda’s tech pillar also includes organising targeted overseas business development missions in key markets. This year alone, we have carried the Bermuda message to 10 business development missions overseas, including to Consensus in Austin, TX in April, Money 20/20 in Amsterdam (Europe’s largest Fintech conference), and the Israel InsurTech Global Summit. And we are excited that on the horizon we will be headed back to ITC in Las Vegas to meet with leading InsurTech companies and then headed to COP28 in Dubai this fall to meet with leading companies in the Climate Tech space.”

Lloyd Fray, President, CCS Group Limited said, “I want to thank the BDA and congratulate them on an outstanding Bermuda Tech Summit. As an innovative solutions provider, CCS was proud to be a platinum sponsor and looks forward to supporting next year’s event.”

Edward Levene, CEO, Clean Peak Energy Group said, “I was able to meet with leading Bermuda Government officials thanks to my attendance as a speaker at the 2023 Bermuda Tech Summit. We are scheduling additional meetings with officials to potentially provide Bermuda with sustainable, cost-effective solutions for recycling and waste management. I would not have made these connections or engaged with Bermuda without the BDA’s Bermuda Tech Summit.”

Michael J Milani, CEO, Mondeum Financial said, “I travel to a lot of events, and I have to say that the BDA team did a phenomenal job, from the speakers to the venue to the accommodations. The best part of the whole thing was the quality of the attendees and the networking. An A+ experience all around. Looking forward to next year.”

The BDA simply could not put on our signature events without the generous support of our sponsors.

The BDA once again thanks Carey Olsen and RELM our diamond sponsors; Appleby, CCS Group Limited and XBTO our platinum sponsors; Hub Culture, KPMG, and One Communications our gold sponsors; Chainproof, Clarien, Paradise Mobile, and Walkers our silver sponsors; Coinbase our supporting sponsor and NEXT Bermuda our association partner. We also thank our airline partner BermudAir and our spirits partner Gosling’s.

The 2023 Bermuda Tech Summit kicked off on October 8 with C-suite networking opportunities at our opening reception sponsored by BermudAir. Day two began with a seaside chat between David Burt, Bermuda’s Premier, and Sandra Ro, CEO, Global Blockchain Business Council, while day three started with David Robles, Global Subsea Construction Lead, Google and Steven Rees Davies, Partner, Carey Olsen laying out Google’s plans for Nuvem, a submarine network cable connecting the US, Bermuda, and Portugal. The 2023 Bermuda Tech Summit was brought to a close by the legendary RELM wrap party.

The BDA looks forward to building on our success at our next signature event, the 2024 Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 13-15, 2024. Stay tuned for more details to be released soon.

Organising and promoting the BDA’s signature events aligns with the ‘Business Attraction and Investment Promotion’ strategic priority as outlined in Bermuda’s Economic Development Strategy.

Posted October 6th, 2023 by Melvin Dickinson & filed under News, Uncategorized.

The Bermuda Business Development Agency (BDA) reminds the public that there is one week left to register for the fifth annual Bermuda Tech Summit.

In addition to cutting-edge content, the Bermuda Tech Summit, held from October 8-10 at the Hamilton Princess & Beach Club, will offer C-Suite networking opportunities via an opening reception on Sunday night sponsored by BermudAir and a wrap party sponsored by RELM.

David Hart, CEO, BDA said, “This year’s agenda highlights Bermuda’s world-leading digital asset framework, showcases our ongoing work to establish blue and green investment facilities, and raises awareness of Bermuda’s innovation sandbox and option to beta test CleanTech solutions. Additional topics will include carbon credit trading platforms, the transformative power of Artificial Intelligence and safeguarding the future of digital assets. The BDA’s promotion of these activities aligns with the ‘Business Attraction and Investment Promotion’ strategic priority outlined in Bermuda’s Economic Development Strategy.”

Click here to register. Click here to see the full agenda and event description.

The BDA thanks our sponsors including diamond sponsors Carey Olsen and RELM; platinum sponsors Appleby, CCS Group Limited and XBTO; gold sponsors Hub Culture, KPMG, and One Communications; silver sponsors Chainproof, Clarien, Paradise Mobile, and Walkers; supporting sponsor Coinbase; and our association sponsor NEXT Bermuda. Our airline partner is BermudAir, and our spirits partner is Goslings.”

Posted September 25th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, September 25, 2023 – The Bermuda Business Development Agency (BDA) welcomes the announcement by Google that Bermuda will be the home of a new transatlantic cable, positioning Bermuda as the digital hub of the Atlantic.

‘Nuvem’– Portuguese for Cloud – will be a new transatlantic subsea cable system connecting Portugal, Bermuda, and the United States.

David Hart, BDA, CEO said, “All of Bermuda joins us in welcoming Google here. Approximately 95% of the world’s communications is carried on submarine cable networks and Bermuda’s Atlantic location makes us the ideal landfall and interconnection point for submarine cables between the Americas, Europe, and Africa. Bermudians can take pride in our new role as an international data transit switch, providing increased network resiliency to countries on both sides of the Atlantic for decades to come, as well as exciting new career opportunities.”

David Robles, Global Subsea Construction Lead, Google said, “Just as trade routes and highways have helped communities thrive throughout history, subsea cables bring digital commerce and productivity benefits that Bermuda is well-positioned to reap. We look forward to working with Bermuda on the Nuvem cable project as part of a long-term partnership to ensure this investment delivers lasting benefits to Bermuda’s digital future.”

Mr. Robles will be guest speaker at the BDA’s fifth annual Bermuda Tech Summit on 10 October on a special panel entitled: ‘Building Bridges, Transatlantic Tech.’ Click here to learn more.

Seeking out foreign direct investment in the infrastructure space has been a key objective of the BDA’s strategy since 2020, and dovetails with government’s mission to build critical new infrastructure as part of the ‘Business Attraction and Investment Promotion’ priority outlined in Bermuda’s Economic Development Strategy.

Since 2013, the BDA has served as a vital conduit between private industry and the Bermuda government, as well as new market entrants and Bermuda’s quality service providers. Our most recent targeted business development missions to Singapore and Israel, not only enable us to remind overseas prospects of our key attributes, but also puts potential prospects in touch with our comprehensive concierge service, available at info@bda.bm.

A link to the Google blog post announcing the Nuvem cable follows: https://cloud.google.com/blog/products/infrastructure/introducing-the-nuvem-subsea-cable.

Posted September 22nd, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, September 22, 2023 – The Bermuda Business Development Agency (BDA) has organised a business development mission to Singapore to hold multiple business development missions in and around Submarine Networks World, the world’s largest annual gathering of the global subsea communications community.

David Hart, CEO, BDA said, “Seeking out foreign direct investment in the infrastructure space is a key objective of the BDA’s strategy, as 95 percent of the world’s communications is carried on submarine cable networks. The BDA has long advocated that Bermuda’s location in the Atlantic makes us an ideal landfall and connection point for cables between the Americas, Europe and Africa and opportunities like the Submarine Network World conference dovetail with the BDA and government’s mission to build critical new infrastructure.”

Mr. Hart will be accompanied in Singapore from September 25 to 28 by Steven Rees Davies, Partner, Carey Olsen.

Mr. Rees Davies said, “Bermuda has been a key jurisdiction in the submarine network sector from both a logistical, corporate and financing perspective for decades. The recent introduction of legislation and regulation to govern and protect cable landing projects is testament to the Bermuda government’s commitment to support and facilitate the continued investment in this infrastructure as part of the global network and infrastructure that supports the wider global technology and communications industry.”

The BDA serves as a vital conduit between industry and government, as well as new market entrants and Bermuda’s quality service providers. Having just completed an overseas business development mission to Israel, these targeted missions not only allow the BDA to tell Bermuda’s story, but also puts potential prospects in touch with our comprehensive concierge service, available at info@bda.bm.

This business development mission forms a central component of the BDA’s Asia strategy for 2023 and aligns with the ‘Business Attraction and Investment Promotion’ strategic priority outlined in Bermuda’s Economic Development Strategy.

Posted September 18th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, September 18, 2023 – The Bermuda Business Development Agency’s (BDA) complimentary concierge service can help new Bermuda market entrants get established quickly.

While the BDA is well known for organising business development missions overseas, or local signature events, to attract foreign direct investment and enhance Bermuda’s reputation as a global centre for business, and innovation, it may be less well known that our concierge service provides prospective new international businesses with direct access to the BDA’s expertise and professional network to help them get established.

David Hart, CEO, BDA, “The BDA is an unrelenting advocate for growing and diversifying business activity in Bermuda, and we understand the importance of speed to market. We give practical guidance on navigating Bermuda’s unique business landscape, working with new entrants to meet their specific needs, from first contact to setting up their new Bermuda HQ.”

Kyle Rogers, Business Research and Intelligence Manager, BDA said, “Even if you have already made the decision to set up shop in Bermuda, it can be hard to know where to start. From introductions to legal and financial service advisors, applying for work permits, to local staffing, and finding the right office space to suit your needs, the BDA is available to help along the way. With the capital city of Hamilton being one square mile, one of the many benefits Bermuda offers is the ability to meet with government, the regulator, investors, and lawyers, all in one day. And if you contact us beforehand, the BDA can also make further introductions to essential industry contacts, such as real-estate providers, technology partners, HR, and recruitment specialists while you are here.”

The BDA’s concierge service is also the primary initial touchpoint for Bermuda’s Economic Investment Residential Certificate (EIRC) applications – all 42 successful EIRC applications, worth a total investment of approximately $440 million, have been submitted to government via the BDA.

Our EIRC work, as well as the concierge service in general, aligns with the ‘Business Attraction and Investment Promotion’ priority outlined in Bermuda’s Economic Development Strategy.

To learn more about the BDA’s concierge service or seek assistance, email info@bda.bm or call us at +1 441 292 0632.

Posted September 11th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, September 11, 2023 – The Bermuda Business Development Agency (BDA) is pleased to announce that BermudAir is the official airline partner of the Bermuda Tech Summit 2023. As a result, BermudAir will provide special delegate pricing for those who book with them to attend the conference.

Adam Scott, BermudAir Founder and CEO said, “BermudAir is delighted to support the Bermuda Tech Summit 2023. The value that this event brings in terms of key learning and thought leadership for business innovation is immense. Innovation is also central to our own business, so we look forward to discovering the latest technological trends applicable to our partners in this market. We’re very happy to help industry leaders and innovators come together in our global business hub here in Bermuda for this important event.”

David Hart, CEO, BDA said “It has been a privilege to work with the team at BermudAir along their exciting journey to launch a new airline from Bermuda and we could not be more pleased to have them as our official airline partner for our fifth annual Bermuda Tech Summit. We strongly encourage all delegates travelling from the US east coast to take advantage of these great rates and enjoy a truly Bermudian experience both in transit to and upon arrival in, our beautiful island home.”

Delegates will receive the discount information directly from the BDA.

The BDA is also pleased to announce a one-time, final extension to our hotel room special rate through to September 15. From September 16, hotel room rates will increase significantly, or may be completely sold out, due to limited availability. Delegates travelling from overseas are strongly encouraged to book their hotel rooms now with our special rates.

The Bermuda Tech Summit, held from October 8-10 at the Hamilton Princess & Beach Club, is the signature event of Bermuda Tech Week, being held across multiple locations from October 7-13.

The 2023 Bermuda Tech Summit will kick off on October 9, with a keynote conversation between The Hon. E. David Burt, JP, MP, Premier of Bermuda, and Sandra Ro, CEO, Global Blockchain Business Council. This year’s agenda highlights Bermuda’s world-leading digital asset framework, showcases our ongoing work to establish blue and green investment facilities, and raises awareness of Bermuda’s innovation sandbox and option to beta test CleanTech solutions. Panels will include: ‘The Transformative Power of Artificial Intelligence,’ ‘FinTech’s New Wave (Buy, Build or Modernise),’ and ‘Insuring Continuity – Safeguarding the Future of Digital Assets.’ Additional topics will include data privacy, carbon credit trading platforms, and pioneering digital assets.

The BDA’s promotion of these activities aligns with the ‘Business Attraction and Investment Promotion’ strategic priority outlined in Bermuda’s Economic Development Strategy.

In addition to cutting-edge content, we are pleased to offer delegates C-suite networking opportunities during our opening reception on Sunday night sponsored by BermudAir and wrap party Tuesday night sponsored by RELM.

Click here to register. Click here to see the full agenda and event description.

“The BDA simply could not put on our signature events without the generous support of our sponsors,” Mr. Hart said. “We are just so pleased to have Carey Olsen and RELM as diamond sponsors; Appleby, CCS Group Limited and XBTO as platinum sponsors; Hub Culture, KPMG, and One Communications as gold sponsors; Chainproof, Clarien, Paradise Mobile, and Walkers as silver sponsors; and Coinbase as supporting sponsor. Our airline partner is BermudAir, and our spirits partner is Gosling’s.”

If you are interested in sponsoring the Bermuda Tech Summit, click here or email bermudatech@bda.bm.

Posted September 6th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, September 6, 2023 – The fifth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), will kick off with a keynote conversation between The Hon. E. David Burt, JP, MP, Premier of Bermuda, and Sandra Ro, CEO, Global Blockchain Business Council.

The Bermuda Tech Summit, held from October 8-10 at the Hamilton Princess & Beach Club, is the signature event of Bermuda Tech Week, being held across multiple locations from October 7-13.

David Hart, BDA CEO, said, “We are so excited that Premier Burt and Sandra Ro are kicking off our fifth annual Bermuda Tech Summit. Due to the legal and regulatory certainty we provide, Bermuda continues to attract some of the world’s most notable tech companies to our shores, increasing direct investment and creating exciting new career paths for Bermudians.”

The keynote conversation will be followed by panel entitled ‘Bermuda Monetary Authority: Navigating Tomorrow’s Regulatory Horizons,’ moderated by Stuart Lacey, Independent Director, BDA, featuring panelists George Alayon, Deputy Director, Supervision (Insurance), BMA; Eric Donkoh, Head of Data Science and Artificial Intelligence, BMA; and Christos Efthymiopoulos, Assistant Director, Supervision (Digital Assets), BMA.

The BMA panel will be followed by ‘Setting the Standard – Bermuda’s Journey to Becoming Climate Tech Central,’ moderated by Stan Stalnaker, Founding Director and Chief Strategy Officer, Hub Culture, featuring Natraj Nukala, Head of Climate, Kshema; Kevin Richards, Managing Director, Bermuda Asset Management; Hugo Rodriguez Bautista, Global Product Risk Manager, Bloomberg; and Darren Wolfberg, Co-Founder, Blockchain Triangle.

This year’s agenda highlights Bermuda’s world-leading digital asset framework, showcases our ongoing work to establish blue and green investment facilities, and raises awareness of Bermuda’s innovation sandbox and option to beta test CleanTech solutions. Other panels will include: ‘The Transformative Power of Artificial Intelligence,’ ‘FinTech’s New Wave (Buy, Build or Modernise),’ and ‘Insuring Continuity – Safeguarding the Future of Digital Assets.’ Additional topics will include data privacy, carbon credit trading platforms, and pioneering digital assets. The promotion of all these burgeoning industries aligns with the ‘Business Attraction and Investment Promotion’ strategic priority outlined in Bermuda’s Economic Development Strategy.

In addition to cutting-edge content, we are pleased to offer delegates C-suite networking opportunities during our opening reception on Sunday night and Wrap Party Tuesday night sponsored by RELM.

Click here to see the full agenda and event description.

Click here to register. Delegates travelling from overseas are strongly encouraged to book their hotel rooms with our special rates through to September 8. From September 9, hotel room rates will increase significantly, or may be completely sold out, due to limited availability.

“The BDA simply could not put on our signature events without the generous support of our sponsors,” Mr. Hart said. “We are just so pleased to have Carey Olsen and RELM as diamond sponsors; Appleby, CCS Group Limited and XBTO as platinum sponsors; Hub Culture, KPMG, and One Communications as gold sponsors; Chainproof, Clarien, Paradise Mobile, and Walkers as silver sponsors; and Coinbase as supporting sponsor.”

Our spirits partner is Gosling’s.

If you are interested in sponsoring the Bermuda Tech Summit, click here or email bermudatech@bda.bm.

Posted September 1st, 2023 by Melvin Dickinson & filed under Publication.

Where you live and do business is a choice. You’ve weighed your options, found more pros than cons, and now it’s time to make moves. Redomiciling or establishing a home base is an exciting and significant decision and there are many aspects that must be considered, from hiring talent and cost‑effective tax planning to finding the ideal office space and selecting the right school for your children.

Once you’ve set your sights on Bermuda, think of us as your concierge and your strategic partner as you transition to, or establish yourself in, your new home. Whether you’re an individual, family, start-up or a multinational company, we have the assets and expertise that will let you mind your business while we do the work.

Known for its advanced financial sector and gold standard regulatory regime, Bermuda is a compelling global competitor when compared to other international jurisdictions, with unique requirements for new entrants to the market. Our team can give practical guidance on navigating Bermuda’s business landscape, working with you to meet your specific needs, from first contact to setting up your headquarters.

Let Us Guide You

A company, a partnership or a limited liability company – which business structure is best for you? Even if you know the answer, it can be hard to know where to start. Take those first steps with the BDA at your side. From applying for work permits to local staffing to finding the right office space to suit your needs, our team is available to help you along the way.

We provide factual information and helpful resources that will answer any questions you may have about doing business in Bermuda. One of our Business Development Managers will guide you through the process, while our Business Concierge can make direct introductions to key representatives of government agencies, including Finance, Immigration, Registrar of Companies, Customs and the Office of the Tax Commissioner.

Launching Your Business

You’re ready to get started and want to get your operations up and running as quickly as possible. We can take you through the processes for work permits, licences and necessary documentation and act as a direct liaison with representatives at the Bermuda Monetary Authority (BMA), the island’s independent financial services regulator, to incorporate a new company. Subject to the required information being provided, the approval process can be completed quickly – a straightforward incorporation can be accomplished in 24 to 48 hours. With the capital city of Hamilton being one square mile, one of the many benefits Bermuda offers is the ability to meet with government, the regulator, investors and lawyers, all in one day.

After signing off with the BMA, we can make further introductions to essential industry contacts, such as real-estate providers, technology partners, HR and recruitment specialists.

Stay Connected

Bermuda is globally connected and sophisticated, with a safe and attractive island lifestyle that secures its position as the perfect hub at the centre of it all. You might think it will be tough being the new person, however, our support services provide swift access to other businesses that call Bermuda home. Build strategic networks within highly qualified and innovative industries, such as captive insurance, ILS and Fintech, and connect to our network of respected industry and sector partners, including law and accountancy firms, IT specialists, banks and administrators.

The BDA is responsible for enhancing Bermuda as a global centre for business, expertise and innovation. We work hand-in-hand with other government agencies and the international business community to ensure that companies are supported by a positive environment and an engaged workforce. We look forward to sitting alongside you on your journey.

Posted August 31st, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, August 31, 2023 – The Bermuda Business Development Agency (BDA) has organised a business development mission to the Insurtech Israel Global Summit in Tel Aviv from September 4-7.

The BDA selected Israel as a business development destination due to its strength as a global hub for InsurTech, as well as its booming and internationally recognised technology and venture capital sectors. Israel has over 7,000 start-ups which have attracted around $95 billion in investments between 2013-2023. Sectors that have traditionally attracted the most investment include cybersecurity, Artificial Intelligence, MedTech, and FinTech.

David Hart, CEO, BDA said, “We are honoured to participate in the Insurtech Israel Global Summit. Israel is often referred to as the ‘start-up nation,’ and the BDA has organised several business development meetings with high value prospective Bermuda market entrants in Tel Aviv next week. Like Bermuda, Israel has gained a reputation for fostering innovation and entrepreneurship and we look forward to reminding key prospects in Tel Aviv about Bermuda’s blue-chip reputation as a financial services centre, particularly in the areas of insurance and technology, and that we are the perfect place to expand operations as they grow their business. The BDA is pleased to be organising this business development mission in furtherance of the ‘Attracting Businesses and Promoting Investments into Bermuda’ strategic priority of Bermuda’s economic development strategy.”

Kobi Bendelak, CEO of Insurtech Israel said, “We are excited to welcome the BDA to Tel Aviv for the Insurtech Israel Global Summit and we look forward to working together to grow and strengthen the Bermuda-Israel business relationship.”

George Alayon, Deputy Director, Supervision (Insurance), Bermuda Monetary Authority, will also speak on a panel at the Insurtech Israel Global Summit entitled: ‘Balancing Innovation and Consumer Protection: The Role of Regulators in the Insurtech Industry.’

If you want to connect with the BDA while we are in Israel, please, email info@bda.bm or call us at +1 441 292 0632.

Posted August 14th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, August 14, 2023 – The fifth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), will be held from October 8-10, with the theme ‘Building a Foundation for the Future’.

David Hart, BDA CEO, said, “We invite you to join us for three days of thought leadership, industry presentations and networking with oceanside views at the iconic Hamilton Princess & Beach Club. Due in no small part to the regulatory certainty that Bermuda provides, we continue to attract some of the world’s most notable tech companies to our shores, increasing direct investment and creating exciting new career paths for Bermudians. Organising the Bermuda Tech Summit aligns with the ‘Business Attraction and Investment Promotion’ priority from Bermuda Economic Development Strategy and has a direct connection to the Climate Risk Finance, Blue Economy, FinTech and Insurtech initiatives.”

Confirmed speakers include: George Alayon, Deputy Director, Supervision (Insurance), Bermuda Monetary Authority (BMA); Martin Carrica, Founder, Mountain Protocol; Cha’Von Clarke-Joell, Assistant Privacy Commissioner, Office of the Privacy Commissioner of Bermuda; Karamoko Dickens, Founder, Conci Bermuda; Eric Donkoh, Head of Data Science and Artificial Intelligence (BMA); Troy Dort, Director, IT Advisory, KPMG; Moad Fahmi, Senior Advisor, Supervision (FinTech), BMA; Robert M. Franklin III, Venture Partner, Masters Fund; Stuart Lacey, independent director, BDA, Paul McLeod, CEO, Bespoke Analytics; Nick Muller, CEO, TriFi Bermuda; Eugene Phillips, CEO, CCS Bermuda; Sandra Ro, CEO, Global Blockchain Business Council; Stan Stalnaker, Founding Director and Chief Strategy Officer, Hub Culture; Zac Townsend, Co-Founder, Meanwhile; and Darren Wolfberg, Co-Founder, Blockchain Triangle.

This year’s agenda aims to raise awareness of Bermuda’s digital asset framework, showcase the ongoing work to establish blue and green investment facilities, and raise awareness of Bermuda’s innovation sandbox and option to beta test cleantech solutions and initiatives in support of the Ministry of Economy and Labour’s 2023-2027 Economic Development Strategy. Panels will include: ‘The Transformative Power of Artificial Intelligence,’ ‘FinTech’s New Wave (Buy, Build or Modernise),’ ‘Bermuda’s Journey to Becoming Climate Tech Central’ and ‘Insuring Continuity – Safeguarding the Future of Digital Assets’. Additional topics will include climate tech, data privacy, carbon credit trading platforms, and pioneering digital assets. Click here to see an agenda and full event description on the BDA website.

Mr. Hart, continued, “Without the generous support of our sponsors, we could not put on this in-person event, and we are so pleased to announce that our first sponsors have also come on board: RELM is a diamond sponsor and will sponsor another legendary closing party; Appleby, Carey Olsen, CCS Group Limited and XBTO are platinum sponsors; Hub Culture, KPMG, and One Communications are gold level sponsors; and Chainproof is a silver sponsor.”

If you are interested in sponsoring the Bermuda Tech Summit, click here or email bermudatech@bda.bm.

Potential delegates are encouraged to take advantage of early bird registration prices for one more week until August 21, 2023. Delegates travelling from overseas are strongly encouraged to book their hotel rooms with our special rates through to September 8. From September 9, hotel room rates will increase significantly, or may be completely sold out, due to limited availability.

The Bermuda Tech Summit, presented by the BDA is the signature event of the annual ‘Bermuda Tech Week’ being held from October 7-13 – stay tuned for more information about Bermuda Tech Week events in coming weeks.

Posted July 18th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, July 18, 2023 — Although the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency, in partnership with KBRA, ended last month, it continues to provoke important conversations concerning climate risk solutions, especially how Bermuda could be a global capital when it comes to the issuance of blue bonds.

Suzanne Johnson, Senior Advisor, United Nations Global Compact (UNGC) Ocean Stewardship Coalition, gave several compelling reasons why Bermuda should issue a blue bond.

“Bermuda is small on the map but large when you look at its sovereign ocean and Exclusive Economic Zone (EEZ),” Ms. Johnson continued. “The International Capital Market Association (ICMA), along with the United Nations Global Compact (UNGC), United Nations Environment Programme-Financial Initiative (UN EP-FI), International Finance Corporation (IFC), and Asian Development Bank (ADB), in its forthcoming blue bond guidance calls out eight broad areas of the ocean economy which qualify for blue bonds. Many of them, such as sustainable fisheries, Marine Protected Areas (MPA), tourism and cleaner energy are extremely relevant to Bermuda.”

“Bermuda has clearly recognised the important role the blue economy can play in not only the protection and preservation of its marine environment, but also to its sustainable economic development,” Ms. Johnson said. “This is shown in its Bermuda Ocean Prosperity Programme (BOPP) which lays out a foundational strategy for the ocean economy. Additionally, it has Marine Spatial Planning (MSP) and Marine Protected Areas (MPA) forthcoming legislation. The BOPP identifies blue bonds as a way to source new investment in Bermuda’s blue economy. With such a big ocean economy zone – there are ample opportunities for the development of Bermuda’s blue economy with the support of the international finance community.”

“A blue bond or instrument would signal Bermuda’s blue ambitions to the market: it would highlight its blue credibility as investors are reassured that the country will be held accountable for its blue commitments,” Ms. Johnson said. “Blue and sustainable bonds attract good investors who are motivated by ESG consideration. With other countries actively looking into this – Bermuda can be an exemplar. Bermuda can burnish and even amplify its financial profile in the international community to act as a voice for ocean states. Further: Bermuda has already led a coalition of ocean states [at COP26], which, when you look at their combined EEZ accounted for 25% of our ocean.”

Slav Gatchev, MD for Sustainable Debt at The Nature Conservancy commented, “Bermuda, benefiting from a strong sovereign credit rating and a sophisticated financial services industry, is well positioned to issue an impact bond to fund its investments in ocean and coastal protection and a vibrant sustainable blue economy. At the same time, Bermuda’s reinsurance industry is perfectly positioned to support – through credit and parametric policies – the blue and other sustainable debt issuances of sovereigns in the Americas and globally.”

Deputy Premier, The Hon. Walter Roban, JP, MP, said, “It was with great interest that I listened to and participated in the many important conversations, especially about blue and impact bonds, taking place in and around the 2023 Bermuda Climate Summit. Ms. Johnson, Mr. Gatchev and other leading global figures all made excellent points in this regard that certainly aligned with our currently thinking. It is intended that the creation of a blue bond will be part of our Blue Economy Strategy. To show our continued dedication to becoming a global capital for climate risk solutions and asset management, Bermuda will be attending COP 28 in the UAE in December – we look forward to sharing more on this important topic in due course.”

The Bermuda Climate Summit attracted 325 delegates, including 101 from overseas, and not only ensured Bermuda remained globally well regarded as a climate thought-leader, but also delivered on its theme to create business solutions, policy, and jobs of the future.

The BDA looks forward to its next signature event, the fifth annual Bermuda Tech Summit, being held at Hamilton Princess from October 9-10, 2023 – for more information, please see our website.

Posted July 14th, 2023 by Melvin Dickinson & filed under News, Press Release.

HAMILTON, Bermuda – July 14, 2023 – The Bermuda Business Development Agency (BDA) continues to celebrate Fidelis Insurance Group’s (Fidelis or the Company) IPO, which listed on the New York Stock Exchange (NYSE) on June 29, 2023. The IPO was a testament to the incredible business community that Bermuda has fostered and demonstrated the ability of Bermudian companies to attract capital and investment around the world.

In celebration of the Company’s Bermudian heritage, Fidelis featured the country’s flag across its on-site marketing activations at the New York Stock Exchange (NYSE). BDA CEO David Hart was in attendance at the bell-ringing ceremony as well.

“I was thrilled and honoured to be with the great team from Fidelis for their IPO ceremony on the NYSE. This was not only a great day for them but also a great day for Bermuda as it showed the continued global significance of Bermudian companies,” Mr. Hart said.

Fidelis raised roughly $100 million for the company, which will be deployed in an exceptionally dislocated insurance market, positioning the Company for future success. Fidelis is comprised of an exceptional group of capital and risk managers with an exclusive relationship with some of the best underwriters in the business at Fidelis MGU. Market conditions are currently very favorable for the Company, with rate increases and renewal retention rates are at some of the highest levels the company has seen, representing one of the best underwriting environment in the company’s history.

With nearly 80 employees working at both Fidelis IG and Fidelis MGU, the Company is deeply committed to the Bermudian market and looks forward to growing its presence in the country even more in the coming years.

Dan Burrows, Group Chief Executive Officer and Executive Director of Fidelis Insurance Group said, “Our listing on the NYSE demonstrates the ability of Bermudian companies like ours to compete on an international stage for business and capital. We are thankful for the collective dedication of our people, as well as the ongoing support of Bermudian government and the conducive business environment it fostered, for helping Fidelis Insurance Group build the foundation for long-term success moving forward. As we enter this exciting phase of our journey, we are focused on deploying capital toward profitable underwriting opportunities, growing our existing scale and creating significant value for all our stakeholders.”

Other Bermuda-based companies that have had IPOs on the NYSE include Athene and Butterfield, while Conduit Re conducted its IPO on the London Stock Exchange in 2020.

Bermuda’s Premier, The Hon. E. David Burt JP, MP said, “On behalf of the Government of Bermuda, I congratulate Fidelis on joining the growing ranks of Bermudian companies being traded publicly on major financial markets around the globe. Bermuda continues to be a centre for financial services innovation, and I am pleased to once again see Bermuda’s flag flying proudly on Wall Street.”

Posted June 29th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, June 29, 2023 — The second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency, in partnership with KBRA, attracted 119 separate companies with a total combined assets under management of ~$4.16 trillion.

The Bermuda Climate Summit attracted 335 delegates, including 101 from overseas, and not only ensured Bermuda remained globally well regarded as a climate thought-leader, but also delivered on its theme to create business solutions, policy, and jobs of the future.

David Hart, BDA CEO, “The BDA was pleased to facilitate important climate risk solution conversations at and around our conference, bringing together financial services leaders, public-policymakers and global NGO heads. In so doing, we are well on our way to increasing foreign direct investment in Bermuda by building out a new climate risk solutions/asset management pillar, adjacent to our globally significant risk and insurance sector. We heard again and again at the conference about how Bermuda is perfectly positioned to be a global capital for blue bonds. The BDA looks forward to continuing to build upon our momentum by holding overseas business development missions throughout 2023, and welcoming delegates back to our third annual Bermuda Climate Summit in 2024.”

Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, kicked off proceedings on day one alongside Jim Nadler, President & CEO, KBRA, followed by a keynote luncheon with Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition. Day two began with presentations from Bermuda’s Premier, The Hon E. David Burt, JP, MP, and His Excellency Abdulaziz Alnuaimi, The Assistant Undersecretary, UAE Ministry of Economy, while Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York, brought the event to a close alongside Stephen Weinstein, BIOS Chair and past BDA-Chair.

The short-term economic impact of the conference, held at Hamilton Princess & Beach Club from June 26-27, including lodging, transportation, food and beverage, retail, and recreation, was estimated at $1.1 million, and supported 311 local jobs. Our inaugural event, held from May 23-24, 2022, attracted 150 delegates, 70 from overseas, and had an economic impact $575,000.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis, and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, Convex, and KPMG. Our supporting sponsors were Butterfield, HSBC and Ocean-Based Climate Solutions, Inc. Our media partners were Bermuda:Re+ILS, Climate and Capital Media, Insurance Insider, and The Insurer. Our spirits partner was Gosling’s Rum.

We also thank our eight local environmental charities – Bermuda Aquarium Museum and Zoo (BAMZ), Bermuda Audubon Society, Bermuda Institute for Ocean Sciences (BIOS), Bermuda National Trust (BNT), Bermuda Ocean Prosperity Programme (BOPP), Beyond Plastic, Keep Bermuda Beautiful (KBB) and Living Reefs Foundation. Special thanks to Aspen for supporting the planting of one tree per Bermuda Climate Summit delegate via our charity partners.

The BDA looks forward to its next conference, the fifth annual Bermuda Tech Summit, being held at Hamilton Princess from October 9-10, 2023 – for more information, please see our website.

Posted June 22nd, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, June 22, 2023 — Eight local environmental charities will participate in important climate risk solution conversations at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA.

Bermuda Aquarium Museum and Zoo (BAMZ), Bermuda Audubon Society, Bermuda Institute for Ocean Sciences (BIOS), Bermuda National Trust (BNT), Bermuda Ocean Prosperity Programme (BOPP), Beyond Plastic, Keep Bermuda Beautiful (KBB) and Living Reefs Foundation, will all provide delegates with information about their stewardship of Bermuda’s environment and natural resources. Five eco-excursions, including tree-planting and environmental clean-ups, have also been organised.

Dr. Ian Walker, Principal Curator, Bermuda Aquarium, Museum & Zoo (BAMZ) said, “The Bermuda Zoological Society (BZS) has been teaching about Bermuda’s environment for over four decades. We believe it is essential for each generation to understand the importance of our island environment home and how uniquely fragile it is. Climate change is a massive threat to all of us, especially those living on islands, and it is essential that we and the rest of the world gain a better understanding of the challenges and how we can combat them. The Bermuda Climate Summit involves global businesses that are uniquely positioned to help ‘move the needle’ in that regard and the BZS is pleased to help spread that message and what we are doing to make a difference.”

Slav Gatchev, Managing Director for Sustainable Debt at the Nature Conservancy will moderate a ‘Biodiversity: Our Strongest Natural Defence Against Climate Change’ panel featuring: Osho Jha, Co-Founder and CEO, dClimate and Co-Founder, Arbol, James Kench, Head of Insurance, KITA, Natalia Moudrak, Climate Resiliency Leader, AON, and Dr. Robbie Smith, Curator of Natural History Museum, Bermuda Aquarium Museum and Zoo (BAMZ).

Cheryl Ann Mapp, Bermuda Ocean Prosperity Programme (BOPP) Blue Economy Specialist said, “BOPP is honoured to be invited again to participate in the second annual Bermuda Climate Summit. The Bermuda Climate Summit is an opportunity to hear from global leaders in their fields, and this year’s agenda touches on many aspects of what the Blue Prosperity Plan is working to achieve, including managing Bermuda’s marine environment to improve its resilience to climate change and exploring investment opportunities in sustainability initiatives and the blue economy.”

Ms. Mapp will speak on a ‘Closing the Skills Gap – Green and Blue Jobs of the Future’ panel moderated by Zayne Sinclair, OW2 Youth Ambassador, and featuring Rob Du Boff, Senior ESG Analyst, Bloomberg Intelligence, Kaitlin Noyes, Director of Education and Community Engagement, BIOS and Jeffrey Steynor, Principal Engineer, Liberty (Bermuda).

Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, will kick off the proceedings at Hamilton Princess & Beach Club on June 26, with a conversation with Jim Nadler, President & CEO, KBRA, followed by a keynote luncheon with Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition. Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York, will bring the event to a close on June 27, alongside Stephen Weinstein, BIOS Chair and past BDA-Chair.

Mr. Weinstein said, “Bermuda’s future as a global capital for climate finance is built on a foundation of blue chip, globally renowned regulatory excellence, business leadership in reinsurance and insurance, and the human capital that has built up on the Island over the decades. The solutions we need to adapt to climate change and foster transition require business, public policy, and applied science innovation and collaboration across those domains. The century long legacy of the BIOS; Bermuda’s deep infrastructure of business, research and regulatory expertise and talent; and culture of daring but disciplined innovation all contributes to Bermuda’s ideal positioning for climate leadership.”

David Hart, BDA CEO said, “Climate risk is global, but it is important to remember that this work starts at a local level. Bermuda is the perfect place to develop climate risk solutions, attract and deploy capital investments and create blue and green jobs of the future. We encourage the public not to miss this opportunity to meet these global climate leaders and engage in this important dialogue.”

Click here to register. The full agenda can be viewed on the BDA website.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis, and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, Convex, and KPMG. Our supporting sponsors are Butterfield, HSBC and Ocean-Based Climate Solutions, Inc. Our media partners are Bermuda:Re+ILS, Climate and Capital Media, Insurance Insider, and The Insurer. Our spirits partner is Gosling’s.

Posted June 14th, 2023 by Melvin Dickinson & filed under News, Press Release.

Fiona Beck Thanked for Seven Years of Service

Hamilton, Bermuda, June 14, 2023 — At its most recent board meeting, Grainne Richmond was unanimously elected to join the Bermuda Business Development Agency’s (BDA) board of directors.

Mrs. Richmond will take over as Audit and Risk Committee Chair from Fiona Beck, who rotated off the board effective March 31, having completed her prescribed term.

Michael Hanson, BDA Chair said, “On behalf of the BDA, I welcome Grainne Richmond to the board. Grainne’s two decades of risk and insurance solutions experience will most certainly assist the BDA in its critical mission to facilitate inward investment and equitable economic growth in Bermuda.”

Mrs. Richmond said, “I am pleased to be joining the BDA’s board of directors. Given the macro-economic factors we are faced with the BDA’s mission is more critical than ever and I look forward to contributing to Bermuda’s success at this important time.”

Mr. Hanson went on to say, “I would also like to take this opportunity to once again express my gratitude to Fiona Beck for her seven years of service to the BDA. Fiona was the epitome of a team player, as exemplified by her willingness to remain on the board for longer than she intended whilst we appointed our next Audit and Risk Chair. She will be sorely missed.”

Ms. Beck said, “It was an honour to serve alongside the BDA’s board and full-time staff. I will always look back with fondness at my time at the BDA and will continue to always be a keen supporter of Bermuda’s growth agenda.”

Posted June 13th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, June 13, 2023 — With the effects of climate change ever more apparent, the stage is set for global experts to devise climate risk solutions at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA.

On June 26, Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, will kick off proceedings at Hamilton Princess & Beach Club with a conversation with Jim Nadler, President & CEO, KBRA, followed by a keynote luncheon between Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition and George Thomas, independent director, BDA. Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York, alongside past BDA-Chair, Stephen Weinstein, will bring the event to a close on June 27.

Slav Gatchev, Managing Director for Sustainable Debt at The Nature Conservancy, one of the world’s largest and most influential environmental organisations, said, “The insurance industry can tip the scales in the fight for biodiversity and climate outcomes and the upcoming Bermuda Climate Summit can show how parametric and credit insurance plus new innovations can unlock investment in nature-based solutions for climate mitigation and adaptation.”

Mr. Gatchev will moderate a ‘Biodiversity: Our Strongest Natural Defence Against Climate Change’ panel featuring: Osho Jha, Co-Founder and CEO, dClimate and Co-Founder, Arbol, James Kench, Head of Insurance, KITA, Natalia Moudrak, Climate Resiliency Leader, AON, and Dr. Robbie Smith, Curator of Natural History Museum, Bermuda Aquarium Museum and Zoo (BAMZ).

John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR) will moderate a panel entitled, ‘What’s Ahead in the United States?’ featuring panellists, Ricardo Lara, Insurance Commissioner, California Department of Insurance, and Lori Wing-Heier, Director, Alaska Division of Insurance, Co-Chairs of the NAIC Climate and Resiliency (EX) Task Force.

Mr. Huff said, “We are so pleased to be able to continually attract internationally-influential insurance supervisors to share their views on the path toward net-zero and the significant role the Bermuda market’s capital and capacity will have in the transition to get us there. Since 1997, Bermuda’s commercial (re)insurers have paid out over a half a trillion dollars to policyholders and cedants in the US, EU, and UK, predominantly for natural catastrophe, specialty and financial risk recovery. With this considerable experience and talent located on island, Bermuda is the perfect place for these leaders to discuss the importance of innovative climate risk solutions.”

‘The US Federal Flood Programme and the (Re)Insurance Sector’ will bemoderated by Peter Giacone, Global Head of Insurance, KBRA and include panelists, Chris Brown – Partner, Mindset, Chlora Lindley-Myers, NAIC President and Director of the Missouri Department of Commerce and Insurance, and Andy Neal, Managing Director, Public Private Partnerships, Aon.

‘Climate and the Evolving Regulatory and Reporting Landscape’ will be moderated by Suzanne Williams-Charles, Director of Policy and Regulation, Corporate Secretary and Data Privacy Officer, ABIR, and feature panellists Ralf Kuerzdoerfer, Deputy Director, Supervision (Insurance), Bermuda Monetary Authority, Sohini Chowdhury, Senior Director, Moody’s Analytics, Ricardo Lara, Insurance Commissioner, California Department of Insurance and Arnaud van Dijk, Partner, ESG, KPMG.

David Hart, BDA CEO said, “Whether it be in the form of erratic rainfall and flooding, wildfires, increased hurricane activity and severity, or rising sea-levels, climate risk is something that impacts us all. After months of planning, we are so excited about the line-up of expert speakers that will come together here at our Bermuda Climate Summit. In addition to highlighting Bermuda as a thought leader in this space, we look forward to attracting potential overseas investors to share why Bermuda is the perfect place to develop climate risk finance solutions, attract and deploy capital investments and create jobs of the future.”

Click here to register. The full agenda can be viewed on the BDA website.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis, and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, Convex, and KPMG. Our supporting sponsors are Butterfield, HSBC and Ocean-Based Climate Solutions, Inc. Our media partners are Bermuda:Re+ILS, Climate and Capital Media, Insurance Insider, and The Insurer. Our spirits partner is Goslings. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

Posted June 6th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, June 6, 2023 — The Bermuda Business Development Agency (BDA) will promote Bermuda’s burgeoning Financial Technology (FinTech) sector at the Money 20/20 Europe conference.

Money20/20 Europe focusses primarily on the future of payments and financial services and is being held this year in Amsterdam, Netherlands from June 6–8.

David Hart, CEO, BDA said, “The BDA’s presence at Money 20/20 Europe follows our participation at Consensus in Austin, Texas in April, where we experienced an outpouring of interest from potential new digital asset businesses. While Bermuda currently has 21 digital asset business licences on the register, we anticipate continued growth in our tech ecosystem. It is important to continue to promote Bermuda’s legal and regulatory certainty regarding FinTech regulation and supervision, so we are inviting everyone we are meeting with here to register for our fifth annual Bermuda Tech Summit, being held this year from October 9–10 at the Hamilton Princess & Beach Club.”

In terms of promoting innovative Insurance Technology (InsurTech) solutions, the BDA will also attend the InsurTech Israel Global Summit 2023 in Tel Aviv, Israel, from September 4–7, as well as InsurTech Connect in Las Vegas, Nevada, from October 31–November 2.

If you wish to arrange a meeting with the BDA at Money 20/20 Europe, or at any of our upcoming tech-related business development missions, email info@bda.bm so we can help you achieve your business goals.

Posted May 24th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, May 24, 2023 — Suzanne Johnson, Senior Advisor, United Nations (UN) Global Compact Ocean Stewardship Coalition, is the latest addition to the impressive list of speakers at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA.

Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP, will open the Summit on June 26 with a conversation with Jim Nadler, President & CEO, KBRA. Another luncheon keynote will be given by Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York on June 27.

Suzanne Johnson said, “It will be a pleasure to discuss the UN Global Compact work to advance a more sustainable ocean economy at the Bermuda Climate Summit. I look forward to discussing how ocean industry and finance can help to address the climate and nature crisis with financial service executives, academics and international regulators in attendance at the summit.”

David Hart, CEO, BDA said, “We are honoured to have a leading expert like Suzanne Johnson giving a keynote at our Bermuda Climate Summit joining an already impressive line-up. It is sure to be an incredible two days of informative and collaborative discussions not just about climate related challenges, but how Bermuda is the perfect place to create and deliver innovative solutions to the global marketplace.”

We are strongly encouraging prospective delegates from overseas to secure their room and receive special rates at our event hotel, the Hamilton Princess & Beach Club, by booking online prior to May 25. Click here to register – this year’s theme is: ‘Bermuda – Climate Central’.

Stay tuned to the BDA website for agenda updates– sessions confirmed to date include: Impact of a Changing Climate on Atlantic Hurricane Frequency and Severity moderated by Marla Pourrabbani, Data Scientist, Senior Manager, ESG and Sustainability, Deloitte, with panellists: Dr. Pete Dailey, Head of Research, Aeolus, Liz Henderson, Co-Head Catastrophe Analytics, Executive Managing Director, Reinsurance Solutions, Aon, Dr. Peter Sousounis, Vice President/Director Climate Change Research, Verisk, and Craig Tillman, President, RenaissanceRe Risk Sciences.

How Do You Measure Environmental Impact? will bemoderated by Barclay Palmer, Executive Editor and Head of Strategy, Climate and Capital Media, and include panellists, Kevin Cei, Climate and Weather Solutions Executive, Jupiter Intelligence, Michele DeMers, CEO, Boundless Impact Research & Analytics, and Keith Pitts, SVP, Sustainability and Regulatory Strategy, Bioceres Crop Solutions.

What’s Ahead in the United States? will be moderated by John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR) and include panellists, Ricardo Lara, Insurance Commissioner, California Department of Insurance, Co-Chair of the NAIC Climate and Resiliency Task Force and Lori Wing-Heier, Director, Alaska Division of Insurance, Co-Chair of the NAIC Climate and Resiliency Task Force.

ESG: Where Does the Road Go From Here? will be moderated by Victoria Harman, Founder and Principal, VL Harmon Advisors, and will include panellists, Prabh Banga, VP Sustainability, Aecon, Harry Masters, Director, Advancing Green, Caroline McGill, Principal, Sustainability, and Impact Investment Strategy, Hillbreak and Patrick Welch, Chief ESG and Ratings Policy Officer, KBRA.

Green Opportunities, an Investor’s Perspective will be moderated by Bill Cox, Global Head of Corporate, Financial and Government Ratings, KBRA, with panellists Alexandra Cooley, Chief Investment Officer, Nuveen, Andrea Griffin, Global Head of Responsible Investments Specialists, HSBC Asset Management and Steve Hatfield, US Head of ESG, Carlyle Group.

Global Climate Risk will be moderated by Jeane Nikolai, Director of Energy, Government of Bermuda, and will include panellists Dr. Mark Guishard, Chartered Meteorologist, Adjunct Scientist and Trustee, BIOS, Dr. Raveem Ismail, Head of Parametric Underwriting, Africa Specialty Risks (ASR Re) and Dr. Simon Young, Senior Director, Willis Towers Watson.

Biodiversity: Our Strongest Natural Defense Against Climate Change will be moderated by Slav Gatchev, Managing Director, Sustainable Debt, The Nature Conservancy, with panellists, Osho Jha, CEO & Co-Founder at dClimate, Co-Founder & Chief Data Scientist at Arbol Inc, James Kench, Head of Insurance, KITA, and Natalia Moudrak, Climate Resiliency Leader, AON.

Climate and the Evolving Regulatory and Reporting Landscape will be moderated by Suzanne Williams-Charles, Director of Policy and Regulation, Corporate Secretary and Data Privacy Officer, ABIR, and feature panellists Ralf Kuerzdoerfer, Deputy Director, Supervision (Insurance), Bermuda Monetary Authority, Sohini Chowdhury, Senior Director, Moody’s Analytics, Ricardo Lara, Insurance Commissioner, California Department of Insurance and Arnaud van Dijk, Partner, ESG, KPMG.

The U.S. Federal Flood Programme and the (Re)Insurance Sector, will bemoderated by Peter Giacone, Global Head of Insurance, KBRA and include panelists, Chris Brown – Partner, Mindset, Chlora Lindley-Myers, NAIC President and Director of the Missouri Department of Commerce and Insurance, and Andy Neal, Managing Director, Public Private Partnerships, Aon

Net Zero? will be moderated by Miqdaad Versi, Head of ESG, Oxbow Partners, UK, and feature panelists Rachael Dalheise. Head of Sustainability, Convex, Andrew MacFarlane, Head of Climate, AXA XL, a Division of AXA, Andrew Smith, Chief Risk and Sustainability Officer, Conduit Re and Dr. Steve Smith- Head of Research & Development, Vantage.

The Power of Partnerships, which will be moderated by Jeff Manson, SVP Underwriting and Head of Global Public Sector Partnership, Renaissance Re Ltd, and will include panellists, Ekhosuehi Iyahen, Secretary General, Insurance Development Forum, Sid Miller, Director, Climate Wise, Rebekah Clement, Head of Sustainability, Lloyds, and Chair of SMI Climate Action Committee, and Tim Nielander, Founder and President, GP3 Institute.

Deep Ocean Solutions will be moderated by William Curry, President and CEO, BIOS, and feature panelists Neil Eckert, Executive Chairman, Conduit Re, Irene Polnyi- Additional Ventures Affiliate, and Mallory Ringham, PhD Chemical Oceanography, Ebb Carbon.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon; gold sponsors Deloitte, Fidelis and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, and KPMG. Our supporting sponsors are Butterfield and HSBC. Our media partners are The Insurer, Insurance Insider and Bermuda:Re+ILS. Our spirits partner is Goslings. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

Posted May 11th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, May 11, 2023 — Bermuda’s Deputy Premier, The Hon. Walter Roban, JP, MP will kick off the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA on June 26.

The Deputy Premier will discuss Bermuda’s key attributes as the world’s climate risk finance capital in a keynote seaside chat with Jim Nadler, President & CEO, KBRA.

Deputy Premier Roban said, “I look forward to once again participating in the Bermuda Climate Summit in order to highlight Bermuda’s strengths in climate risk finance, including our strong regulatory environment, long-history of environmental stewardship and wealth of financial services experience.”

The keynote address will be given by Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York.

Other sessions confirmed to date include: The Power of Partnerships, which will be moderated by Jeff Manson, SVP Underwriting and Head of Global Public Sector Partnership, Renaissance Re Ltd, and will include panellists, Ekhosuehi Iyahen, Secretary General, Insurance Development Forum, Sid Miller, Director, Climate Wise, Rebekah Clement, Head of Sustainability, Lloyds, and Chair of SMI Climate Action Committee, and Tim Nielander, Founder and President, GP3 Institute.

Impact of a Changing Climate on Atlantic Hurricane Frequency and Severity will be moderated by Marla Pourrabbani, Data Scientist, Senior Manager, ESG and Sustainability, Deloitte, and features panellists, Dr. Pete Dailey, Head of Research, Aeolus, Liz Henderson, Co-Head Catastrophe Analytics, Executive Managing Director, Reinsurance Solutions, Aon, Dr. Peter Sousounis, Vice President/Director Climate Change Research, Verisk, Craig Tillman, President, RenaissanceRe Risk Sciences.

Net Zero? will be moderated by Miqdaad Versi, Head of ESG, Oxbow Partners, UK, and feature panelists Rachael Dalheise. Head of Sustainability, Convex, Andrew MacFarlane, Head of Climate, AXA XL, a Division of AXA, and Andrew Smith, Chief Risk and Sustainability Officer at Conduit Re.

Global Climate Risk will include Dr. Mark Guishard, former Director, Bermuda Weather Service, Dr. Raveem Ismail, Head of Parametric Underwriting, Africa Specialty Risks (ASR Re) and Dr. Simon Young, Senior Director, Willis Towers Watson.

What’s Ahead in the United States? will be moderated by John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR) and include panellists, Ricardo Lara, Insurance Commissioner, California Department of Insurance and Lori Wing-Heier, Director, Alaska Division of Insurance, and National Association of Insurance Commissioners (NAIC) Representative, Sustainable Insurance Forum.

Chlora Lindley-Myers, NAIC President and Director of the Missouri Department of Commerce and Insurance will speak on a panel entitled The U.S. Federal Flood Programme and the (Re)Insurance Sector, moderated by Peter Giacone, Global Head of Insurance, KBRA and including fellow panelists, Chris Brown – Partner, Mindset and Andy Neal, Managing Director, Public Private Partnerships, Aon.

David Hart, BDA, CEO said, “The theme of this year’s event is ‘Bermuda – Climate Central’ and we are honoured to have Deputy Premier Roban join us to open the 2023 Bermuda Climate Summit. We are equally pleased to have so many leading climate experts across different fields coming to Bermuda to engage with our audience on why climate is such an important topic. We also look forward to meeting with potential overseas investors to share why Bermuda is the perfect place to develop climate risk finance solutions.”

Click here to register for this important event. Overseas guests are also reminded to book their hotel rooms online before May 25, to enjoy special rates at our event hotel, the Hamilton Princess & Beach Club.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; platinum sponsor Aon, gold sponsors Deloitte, Fidelis and Hub Culture; and silver sponsors Aeolus, Aspen, AXA XL, Belco, and KPMG. Our supporting sponsors are Butterfield and HSBC. Our media partners are The Insurer, Insurance Insider and Bermuda:Re+ILS. Goslings is our spirits partner. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

Posted May 4th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, May 4, 2023 — In promotion of our status as the risk capital of the world, numerous industry and government leaders from Bermuda journeyed to RISKWORLD, the annual conference of RIMS, the world’s largest risk management community, held this year in Atlanta, Georgia from April 30 to May 3.

David Hart, Bermuda Business Development Agency (BDA) CEO said, “Bermuda had another great business development mission to RIMS. On Monday we held numerous business development meetings with prospective new captives, and toured the RISKWORLD marketplace where we met with many globally significant Bermuda-based companies. On Tuesday, we were fortunate to have the Georgia Chamber of Commerce as our gracious hosts and we met company representatives from the Georgia Department of Economic Development, UPS, Georgia State University, Comprehensive Programme Services, Global Payments, and State Farm Insurance in order to potentially strengthen the economic relationship between Georgia and Bermuda.”

Bermuda’s presence at RIMS was capped off by our signature Bermuda networking reception, including Bermuda’s Premier, The Hon. E. David Burt, JP, MP. Over 200 leaders in the insurance sector from around the globe attended the event which featured local Bermudian entertainer DJ Chubb. The BDA extends our sincere thanks to our Bermuda reception partners, Chubb, Butterfield, AIG, Markel, KPMG, and SS&C Technologies, who together underwrote 100% of the cost and whose valued contributions made this important annual networking event possible.

“We look forward to returning to RISKWORLD next year in San Diego, CA and in the meantime will continue to support Bermuda’s globally significant risk and insurance solutions industry at the BDA’s second annual Bermuda Climate Summit from June 26-27, and the BDA’s third annual Bermuda Risk Summit in March 2024,” Mr. Hart said.

The Bermuda delegation was led by Minister of Economy & Labour, The Hon. Jason Hayward, JP, MP, with other delegate members including John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR), David Hart, BDA CEO, and Helen Souza, BDA Business Development Manager.

The BDA’s next business development mission will be held in Toronto, Canada from June 15-17. If you are interested in meeting with the BDA in Toronto this month, please register your interest at info@bda.bm.

Posted April 24th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, April 24, 2023 — A delegation from Bermuda led by the Premier and Minister of Finance, the Hon. E. David Burt, JP, MP, will set off to Consensus, the world’s largest gathering of digital asset, blockchain and Web3 enthusiasts, in Austin, Texas this week.

Premier Burt will be speaking on Consensus’ main stage this Friday, 28 April, with Michael Casey, CoinDesk’s Chief Content Officer, on a keynote conversation entitled ‘Bermuda’s Strict but Progressive Path to Crypto Hub Status’. This speaking appearance will be preceded by Bermuda’s inaugural networking reception at Consensus, presented by the Bermuda Business Development Agency, in partnership with Walkers, RELM and NEXT Bermuda.

Premier Burt said, “I am pleased to be leading this mission to Consensus on behalf of the Government of Bermuda. Bermuda is leading the ‘race to top’ when it comes to providing regulatory clarity to digital asset businesses. And this week’s announcement that Coinbase, the largest cryptocurrency exchange in the U.S. has received their full license from the Bermuda Monetary Authority is further proof that global companies are taking note of this. The Government of Bermuda looks forward to supporting the ongoing evolution of global financial services and – there isn’t any better place for this to occur than here in our growing ecosystem.

We also look forward to supporting the continued growth of our local fintech industry, with more global companies coming to our shores, creating opportunities for Bermudians to join in this exciting industry that is taking shape right here in Bermuda. ”

David Hart, BDA CEO said, “The timing of this business development mission to Consensus could not be more perfect as it comes on the heels of Coinbase’s recent announcement that it has received its full digital asset business licence from the Bermuda Monetary Authority (BMA). We are looking forward to connecting with many innovative companies at Consensus to share Bermuda’s attributes as a safe and secure domicile offering regulatory and legal clarity to quality FinTech companies looking to set up shop in a blue-chip domicile.”

These activities all build on announcements made at Consensus last year including the formation of Bermuda’s first digital asset business industry group, NEXT Bermuda and that Jewel Bank became Bermuda’s first new bank in over 20 years after it was issued its combined full banking licence and digital asset business licence.

The BDA and other members of the Bermuda delegation will hold business development meetings with business leaders who have expressed an interest in joining Bermuda’s FinTech ecosystem. If you wish to arrange a meeting with the Bermuda delegation, email info@bda.bm.

The Bermuda Reception will be held on Thursday 27 April from 5pm to 7.30 pm at Cedar Door, on 201 Brazos Street, in Austin and will feature signature Gosling’s cocktails and entertainment by Bermudian Gianluca Gibbons & Trio (featuring singer and “Bel-Air” actress Simone Joy Jones). Reception attendees will be entered in a draw to win a trip for two to the BDA’s Bermuda Tech Summit in November, including airfare, hotel and delegate passes. If you are interested in attending the Bermuda Reception at Consensus, email events@bda.bm.

Posted April 18th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, April 18, 2023 — The keynote address at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA, will be given by Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York on June 27.

The theme of this year’s event is ‘Bermuda – Climate Central’ and some of the sessions confirmed to date include: The Power of Partnerships, which will be moderated by Jeff Manson, SVP Underwriting and Head of Global Public Sector Partnership, Renaissance Re Ltd, and will include panellists Ekhosuehi Iyahen, Secretary General, Insurance Development Forum, Sid Miller, Director, Climate Wise, Rebekah Clement, Head of Sustainability, Lloyds, and Chair of SMI Climate Action Committee, and Tim Nielander, Founder and President, GP3 Institute.

David Hart, BDA, CEO said, “We are so excited to have such leading climate experts speak to our second annual Bermuda Climate Summit. They will share why climate is such an important topic and how Bermuda is the perfect place to develop climate risk solutions. We also look forward to showcasing Bermuda to potential investors from overseas who may be looking for climate-friendly domiciles in which to invest.”

Impact of a Changing Climate on Atlantic Hurricane Frequency and Severity will be moderated by Marla Pourrabbani, Data Scientist, Senior Manager, ESG and Sustainability, Deloitte, and features panellists, Dr. Pete Dailey, Head of Research, Aeolus, Liz Henderson, Co-Head Catastrophe Analytics, Executive Managing Director, Reinsurance Solutions, Aon, Dr. Peter Sousounis, Vice President/Director Climate Change Research, Verisk, Craig Tillman, President, RenaissanceRe Risk Sciences.

Net Zero? will be moderated by Miqdaad Versi, Head of ESG, Oxbow Partners, UK, and feature panelists Rachael Dalheise. Head of Sustainability, Convex, Andrew MacFarlane, Head of Climate, AXA XL, a Division of AXA, and Andrew Smith, Chief Risk and Sustainability Officer at Conduit Re.

Global Climate Risk will include Dr. Mark Guishard, former Director, Bermuda Weather Service, Dr. Raveem Ismail, Head of Parametric Underwriting, Africa Specialty Risks (ASR Re) and Dr. Simon Young, Senior Director, Willis Towers Watson.

Delegates are encouraged to register soon as the early bird rate of $395 will expire after this Monday, April 24. Overseas guests are also reminded to book their hotel rooms online before May 25, to enjoy special rates at the Hamilton Princess & Beach Club, where the Bermuda Climate Summit will be held from June 26-27, 2023.

The BDA is grateful for the continued support of our headline sponsor KBRA, as well as: diamond sponsor Conduit Re; gold sponsors Deloitte and Hub Culture; and silver sponsors KPMG, Aspen, Belco and Aeolus. Our supporting sponsor is Butterfield. Our media partners are The Insurer, and Bermuda:Re+ILS. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

Posted April 5th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, April 5, 2023 — As the world seeks ways to confront our planet’s biggest challenge, climate change, Bermuda is uniquely positioned to be a global leader in providing climate risk strategies and solutions.

The second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with KBRA, will showcase not just the seriousness of the threat, but also the attributes and innovative spirit Bermuda can bring to the table to help partners across to world rise to meet this global crisis. Bermuda has a long history of providing financial solutions that mitigate the negative impact of crises.

David Hart, BDA, CEO said, “Our exclusive invite-only event back in May 2022 attracted 150 attendees, including 70 from overseas, and this year we are expecting to at least double the level of interest, bringing together senior leaders from financial services, academia and public policy to explore climate risk solutions and opportunities. We will discuss a wide-range of climate issues, including the science of climate change, the regulatory needs of green investors, and Bermuda’s aspirations to be a climate risk finance leader – the most adjacent vertical to our globally significant property catastrophe reinsurance and Insurance Linked Securities sectors. In addition to cutting edge content and C-suite networking opportunities, we will encourage delegates to experience the island firsthand via environmentally-friendly excursions.”

‘Bermuda-Climate Central’ is the theme of the BDA’s next signature event, which will be held at the Hamilton Princess & Beach Club from June 26-27, 2023.

Overseas guests can click here for special hotel room rates at the conference venue while supplies last. Prospective delegates can take advantage of early bird registration prices until Monday, April 24,

by visiting the event page on the BDA website.

The BDA is grateful for the continued support of our headline sponsor, KBRA, as well as: diamond sponsor Conduit Re; gold sponsors Deloitte and Hub Culture; and silver sponsors, KPMG, Aspen, Belco and Aeolus. Our supporting sponsor is Butterfield. Other sponsorship opportunities are still available; please e-mail bermudaclimate@bda.bm if you wish to participate.

A flavour of some of the session topics and speakers confirmed to date include Marla Pourrabbani, Data Scientist, Senior Manager, ESG and Sustainability, Deloitte, who will moderate a panel entitled ‘Impact of a Changing Climate on Atlantic Hurricane Frequency and Severity’ featuring panellists, Dr. Pete Dailey, Head of Research, Aeolus, Dr. Peter Sousounis, Vice President/Director Climate Change Research, Verisk and Craig Tillman, President, RenaissanceRe Risk Sciences.

‘Net Zero or Not?’ will be moderated by Miqdaad Versi, Head of ESG, Oxbow Partners, UK and feature panelists Andrew MacFarlane, Head of Climate, AXA XL, a Division of AXA, and Andrew Smith, Chief Risk and Sustainability Officer at Conduit Re.

‘Global Climate Risk’ will include Dr. Mark Guishard, former Director, Bermuda Weather Service, Dr. Simon Young, Senior Director, Willis Towers Watson, and Dr. Raveem Ismail, Head of Parametric Underwriting, Africa Specialty Risks (ASR Re).

And The Power of Partnerships, which will be moderated by Jeff Manson, SVP Underwriting and Head of Global Public Sector Partnership, Renaissance Re Ltd, will include panellists Sid Miller, Director, Climate Wise, Rebekah Clement, Head of Sustainability, Lloyds, and Chair of SMI Climate Action Committee, and Tim Nielander, Founder and President, GP3 Institute.

Posted March 28th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, March 28, 2023 — The Bermuda Business Development Agency (BDA) today released its 2022 End of Year Report.

The purpose of the BDA is to promote and protect, in collaboration with government and the private sector, sustainable and equitable economic growth, diversity and prosperity in Bermuda.

The BDA’s 2022 End of Year Report captures some of the highlights of our efforts to promote Bermuda’s unique attributes in targeted overseas markets, attract foreign direct investment, stimulate job growth, and create opportunities for Bermudians.

David Hart, BDA CEO said, “2022 was a watershed year for the BDA. In March 2022, despite ongoing social and economic uncertainties raised by the COVID-19 pandemic, the BDA successfully organised Bermuda’s first large in-person conference on island since 2019, our inaugural Bermuda Risk Summit. As the world began to carefully re-open in 2022 after a forced two-year travel hiatus, the BDA organised business development missions from San Francisco to Singapore, and most major financial services markets in between (including New York, London, and Toronto). We also launched the inaugural Bermuda Climate Summit. As the BDA celebrates its tenth anniversary on April 1, 2023, we look forward to continuing to use our unique skillsets to help build and bolster Bermuda’s economy for future decades to come.”

In terms of key metrics, in 2022 the BDA:

Engaged 1,459 new contacts through business development outreach

Created 80 new leads through business development activities

Provided 45 referral opportunities to key stakeholders

Organised 45 conferences and events in Bermuda and around the world

Issued 41 press releases to over 100,000 media outlets in 162 countries promoting Bermuda as a place to do business

Numbers are one way to demonstrate results but the following examples offer additional glimpses into how some of the BDA’s recent efforts relate to actual investment and job creation on the ground:

The BDA assisted a US company with setting up an office in Bermuda. After a referral to a local realtor, other local companies, and the Economic Development Department’s (EDD) government concierge service, a local company was incorporated in March 2022, an office was secured, and five new positions were advertised locally

Similarly, the BDA assisted a client with setting up a Class 4 reinsurer in Bermuda within a limited timeframe in December 2022

After attending the BDA’s first Bermuda Risk Summit, Bermuda was subsequently chosen as the jurisdiction to form a new InsurTech company, which was incorporated in June 2022 and later granted a regulatory sandbox licence by the Bermuda Monetary Authority (BMA)

The BDA is proud of the impact its work in 2022 had in bringing direct economic investment and stimulation to Bermuda’s economy and looks forward to continuing these efforts into 2023 and beyond.

Click here to learn more about how the BDA’s dedicated concierge service can assist you, or your clients, to bring new business into Bermuda.

Posted March 9th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, March 8, 2023 — The Bermuda Business Development Agency (BDA) is pleased to announce that its second annual Bermuda Risk Summit, held from March 6-8, attracted 450 attendees, including over 150 business visitors.

The Bermuda Risk Summit creates long-term business development growth potential, in terms of deal-making opportunities occurring around the event in front of an extremely important June 1/July 1 renewal season for Bermuda’s reinsurance sector. The short-term economic impact, including lodging, transportation, food and beverage, retail, and recreation, was estimated at $1.8 million, and supported 266 jobs. This figure includes approximately 100+ additional visitors who flew to Bermuda for business meetings or ancillary events taking place this week around the Bermuda Risk Summit. Our inaugural event, held March 14-16, 2022, attracted 350 delegates, 80 from overseas, had an economic impact $1 million, and supported around 200 jobs.

David Hart, BDA, CEO said, “The BDA thanks all of the companies and leaders from Bermuda’s globally significant Risk and Insurance Solutions industry for their contributions to our event, but more importantly, for their contributions to Bermuda’s economy as a whole. We especially want to thank all of the overseas visitors that made the journey to attend our event. The BDA looks forward to continuing to build and improve upon our annual Risk Summit and welcoming you back in 2024.”

The BDA extends our appreciation to the Association of Bermuda Insurers and Reinsurers (ABIR), EY and Gallagher Re, our headline sponsors; Hyperexponential, our diamond sponsor; SS&C, our gold sponsor; AM Best and Kirkland & Ellis, our silver sponsors; and Aon, Bermuda Brokers, Demotech, Docosoft, Florida Insurance Council, KPMG, Meenan P.A., MS Reinsurance, and Rein4ce our supporting sponsors. The Insurer is our official media partner, and our spirits partner is Goslings.

Bermuda Risk Summit kicked-off with a keynote conversation with Bermuda’s Premier, The Hon. David Burt, JP, MP, followed by a group CEO panel moderated by Sophie Roberts, Head of The Insurer TV, that featured Peter Bell, CEO & Managing Director, Everest Re, Stephen Catlin, Executive Chairman, Convex (Past Chair & Deputy Chair ABIR), Christopher Schaper, CEO, AIG Re (ABIR Deputy Chair), and Megan Thomas, CEO, Hamilton Re. Senior regulators from the Bermuda Monetary Authority, National Association of Insurance Commissioners (NAIC), and the Bank of England’s Prudential Regulatory Authority were also among the speakers.

The BDA is looking forward to its second annual Bermuda Climate Summit, also being held at the Hamilton Princess & Beach Club, from June 26-27, 2023. Sponsorship information is available here – potential attendees can register online.

Posted February 23rd, 2023 by Melvin Dickinson & filed under News, Press Release.

Two Diversity Equity and Inclusion (DEI) Trailblazers will be honoured at the second annual Bermuda Risk Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR), EY and Gallagher Re.

Chlora Lindley-Myers, National Association of Insurance Commissioners (NAIC) President and Director of the Missouri Department of Commerce and Insurance, and Cheryl Ann Lister,

Acting Financial Secretary, Government of Bermuda will be presented DEI Trailblazer Awards by Bermuda’s Premier, the Hon. E. David Burt, JP, MP.

John Huff, CEO, ABIR who will host the awards ceremony on March 6, said, “As ABIR celebrates its 30^thAnniversary in 2023, we wanted to recognise Chlora Lindley-Myers as the first woman of colour in 152 years to be elected NAIC President. Of course, we could not let this moment pass without also recognising local hero, Cheryl Ann Lister who was appointed Chair and CEO of Bermuda’s integrated financial services regulator, the Bermuda Monetary Authority (BMA) back in 2002. The day after the DEI Trailblazer Awards, March 7, current BMA CEO, Craig Swan will moderate a discussion about international markets and regulatory cooperation with Tom Sullivan, Former Senior Associate Director, US Federal Reserve, and Alaska Insurance Director, Lori K. Wing-Heier representing the NAIC, just some of the regulators, along with the Bank of England’s Prudential Regulatory Authority, travelling here to participate in the Bermuda Risk Summit.”

David Hart, CEO, BDA said, “We are so pleased to have such senior-level standard setters and risk industry giants coming to Bermuda for our second annual Bermuda Risk Summit from March 6-8, 2023. We are sure to have something of interest for everyone in our dynamic agenda of world-class speakers. In addition to cutting-edge content, there will also be C-suite networking opportunities at our signature and ancillary events.”Registered attendees of the Bermuda Risk Summit may also enjoy participating in Aon’s Networking Reception, which will be held on Sunday, 5 March 2023, from 5 p.m. at the Flagpole Terrace, followed by the Bermuda Risk Summit’s official Opening Reception, sponsored by SS&C Technologies, on Monday, 6 March from 5 p.m. at 1609 Bar & Restaurant. On Tuesday 7 March from 2.30 p.m., AM Best will hold an Insurance Briefing and Networking Reception at the Hamilton Princess, and the Bermuda Risk Summit will be brought to a fantastic close via our

Bermuda Lunch Cruise leaving the dock at Hamilton Princess promptly at 1 p.m. on Wednesday, 8 March.

The BDA once again thanks its headline sponsors, ABIR, EY and Gallagher Re; diamond sponsor, Hyperexponential; Gold sponsor, SS&C; silver sponsors AM Best and Kirkland & Ellis; and supporting sponsors, Aon, Bermuda Brokers, Demotech, Docosoft, Florida Insurance Council, KPMG, Meenan P.A., MS Reinsurance, and Rein4ce. Our official media partner is The Insurer and Goslings is our spirits partner.

The BDA is pleased that representatives from the Bermuda’s Women in Reinsurance (WiRe) group, LINK Bermuda, and Association for Corporate Racial Equity (ACRE) will be in attendance, as well as several BDA and ABIR sponsored students from Bermuda College.

The level of registrations received to date has been excellent, but some spaces are still available. Click here to register – the full agenda is available here.

NOTE TO EDITORS: Founded in 1871, the NAIC is a US-based standard-setting organization governed by the chief insurance regulators from the 50 US states, the District of Columbia, and five US territories, to coordinate the regulation of multistate insurers.

Posted February 13th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, February 13, 2023 — The Bermuda Business Development Agency (BDA) has successfully organised Bermuda’s first business development mission to Latin America since 2019.

The Hon. Jason Hayward, JP, MP, Minister of Economy & Labour, represented Bermuda’s Government at the ‘Private Client Forum Americas 2023’ in Playa Del Carmen, Mexico from February 12-14.

Minister Hayward said, “At a BDA-sponsored Bermuda Breakfast this morning, we reminded a select grouping of top international lawyers about the Island’s key high-net-worth services attributes, as well as our Economic Investment Certificate (EIC). I am confident that Bermuda’s economy will receive long-term benefits from this renewed contact with the Latin American market. I congratulate the BDA on organising another successful business development mission.”

David Hart, CEO, BDA said, “The BDA tells the Bermuda story best to potential business makers overseas when we are joined arm-in-arm with our public sector and industry stakeholders. So along with the Minister, I also thank Stephanie Bernard, Counsel, Carey Olsen, Trusts and Private Wealth; Gina Pereira, Managing Director – Client & Fiduciary Stewardship, Meritus; Anna Bruce- Smith, Director, Conyers; and Satjivan Aujla, Associate, Conyers for taking time away from their families to help promote Bermuda.”

Supporting the high-net-worth services industry is one of the BDA’s key strategic priorities and this Latin American mission follows Bermuda’s successful presence at an International Private Client Forum in Lake Como, Italy in November 2022.

The BDA also played an important role in the return of three major in-person high-net-worth services events to Bermuda last summer, the first since 2019.

In addition to overseas business development missions and providing financial support to important in-person events in Bermuda, the BDA assists this well-established sector via monthly trust and private client advisory group meetings.

If you would like to learn more about Bermuda’s high-net-worth services sector, contact Korrin Lightbourne, Senior Business Development Coordinator at info@bda.bm or +1 441 292 0632.

Posted February 3rd, 2023 by Melvin Dickinson & filed under News, Press Release.

Register Today | Bermuda Risk Summit Agenda

Hamilton, Bermuda, February 3, 2023 — The Bermuda Business Development Agency (BDA) is pleased to announce that Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers (ABIR) and EY as headline sponsors of the second annual Bermuda Risk Summit.

Adam Schwebach, Executive Vice President, Gallagher Re said, “Gallagher Re is proud to support the second Bermuda Risk Summit, an annual event that showcases the breadth and versatility of Bermuda’s globally significant risk market. This event serves as a timely opportunity to connect with industry leaders ahead of midyear renewals and we applaud the BDA for their efforts in making the Bermuda Risk Summit a success.”

David Hart, BDA CEO said, “We are just so excited to welcome Gallagher Re as our third and final headline sponsor, along with ABIR and EY. The theme of the 2023 Bermuda Risk Summit, being held from March 6-8, 2023, at the Hamilton Princess & Beach Club is ‘Innovation, Sustainability and Collaboration. We anticipate an even stronger attendance level than last year, as this event is just placed perfectly in front of an extremely important June 1 renewal season.”

Guests should act before midnight on Monday, February 6 to secure special hotel room rates starting at $359 (plus tax). From February 7, hotel room rates will increase significantly, or may be sold out, due to limited availability. To book your room please call 1-441-295-3000 or the Global Reservations Centre on 1-800-441-1414. Alternatively, click here to reserve your room online. Please use the booking code: ‘Bermuda Risk’ to take advantage of the preferred rate.

The Bermuda Risk Summit will begin with a keynote conversation with Bermuda’s Premier and BDA CEO David Hart, while Sophie Roberts, Head of The Insurer TV will moderate a group CEO panel made up of Peter Bell, CEO, Everest Re, Stephen Catlin, CEO, Convex, Chris Schaper, CEO, AIG, and Megan Thomas, CEO, Hamilton Re.

The BDA is also pleased to announce that Bermuda Brokers, Florida Insurance Council, KPMG, Meenan P.A., MS Reinsurance and Rein4ce have come on board as supporting sponsors. Goslings will be our spirits partner.

They join diamond sponsor Hyperexponential, gold sponsor SS&C, silver sponsors AM Best and Kirkland & Ellis, WIFI sponsor Demotech, supporting sponsor Aon, and our official media partner, The Insurer.

Other sponsorship opportunities are still available. Please e-mail bermudarisk@bda.bm if you wish to participate.

Some of the speakers confirmed to date include John Huff, CEO, ABIR, who will moderate a global capacity shortfall panel with Chris Bonard, CEO, ED Broking (Bermuda) Limited, Lara Mowrey, Global Head of Distribution, Guy Carpenter, Jim Fiore, Executive Managing Director, Chief Strategy Officer, Capital Advisory, Aon, and Ben Radford, Head of Gallagher Re, Bermuda.

Susanne K Murphy, Insurance Regulatory Consultant, Meenan P.A. will moderate a market perspectives from Florida’s C-Suite panel featuring Tom Gallagher, COO, People’s Trust Insurance Company, Melissa Burt DeVriese, President, Security First Insurance, Jennifer Montero, Chief Financial Officer, Florida Citizens Property Insurance Corporation and Cecil Pearce, President, Florida Insurance Council.

Suzanne Williams Charles, Director of Policy and Regulation, ABIR will moderate a panel of international regulators featuring Chlora Lindley-Myers, President, National Association of Insurance Commissioners and Gerald Gakundi, Director, Supervision (Insurance), Bermuda Monetary Authority (BMA) and Andrew Dyer, Head of London Markets, Bank of England.

Joseph Petrelli, President, Demotech and Todd Kozikowski, President, 44North, LLC, will present their findings on Florida’s disparate litigation levels.

Curtis Dickinson, Executive Adviser, Bermuda International Long-Term Insurers and Reinsurers (BILTIR) will moderate an updates from the life sector panel featuring Mark Yu, Head of Enterprise Capital Strategy, New England Asset Management, James Claxton, Associate Partner, EY, Martin Maringi, Deputy Director, Supervision (Insurance), BMA and Michelle Moloney, EVP Chief Risk Officer, Pacific Life Reinsurance.

Christian Dunleavy, Group Chief Underwriting Officer, Aspen, Chris Hayward, Chief Underwriting Officer, MS Amlin Reinsurance, Seamus Fearnon-EVP, CRT & European Markets, Arch Capital Group Ltd and Kostya Zolotusky, CEO, Itasca Re will explore the growing significance of specialty lines.

Kerr Kennedy, Associate Partner, EY, will moderate the future of cyber reinsurance panel with Yosha Delong, Global Head of Cyber, Mosaic Insurance, Noel Pearman, SVP, Cyber Product Line Leader, AXA XL, Sebastien Plummer, Cyber Specialist Broker, Gallagher Re, and Edouard Von Heberstein, CEO Spectra.

Edward Mishambi, SVP and Chief Risk Officer-Europe, Renaissance Re who will moderate a panel entitled global financing conditions – a rating agency discussion that features Peter Giacone, Global Head of Insurance, KBRA, Stefan Holzberger, Chief Rating Officer, AM Best, Brian Schneider, Senior Director, Global Analytical Co-Head, Fitch, and Joseph Petrelli.

A panel discussing investor’s experiences of Bermuda featuring Scott Frederick, Managing Partner, Sands Capital Ventures, Adrian Jones, Managing Director, Re/Insurance and Partner, HSCM Ventures, and Armin Rothauser, Senior Partner, Castlelake Investments will be moderated by Stephen Weinstein, past BDA Chair.

Saadia Savory, Vice President, Excess Casualty, Aspen, and Shannon Totten, SVP, Casualty Insurance Practice Leader Bermuda, Sompo International, will discuss Bermuda’s vibrant casualty lines of business.

And finally, Gero Michel, Group CRO, AIG Re will discuss the future of risk with Tom Johansmeyer, SVP, Head of PCS, Verisk, Susan Pateras, Deputy Chair, BDA, and Andrew Smith-Chief Risk & Sustainability Officer, Conduit Re.

The full agenda is available here.

The immediate economic impact of our 2022 event, which had a total of 350 delegates (80 from overseas), including lodging, transportation, food and beverage, retail and recreation was estimated at over one million dollars, and supported around 200 jobs.

Register Today | Bermuda Risk Summit Agenda

Posted January 26th, 2023 by Melvin Dickinson & filed under News, Press Release.

Register Today

Hamilton, Bermuda, January 26, 2023 — Potential attendees of the Bermuda Business Development Agency’s (BDA) second annual Bermuda Risk Summit, being held at the Hamilton Princess & Beach Club from March 6-8, are reminded the early bird registration price will end tomorrow, Friday, 27 January. Included in the early bird price are keynote breakfasts, networking breaks and lunches, an evening seaside soiree, and an island lunch cruise.

Overseas guests should also act before midnight on Monday, February 6 to secure special hotel room rates starting at $359 (plus tax). From February 7, hotel room rates will increase significantly, or be completely sold out, due to limited availability. To book your room please call 1-441-295-3000 or the Global Reservations Centre on 1-800-441-1414. Alternatively, click here to reserve your room online. Please use the booking code: ‘Bermuda Risk’ to take advantage of the preferred rate.

The Bermuda Risk Summit, which has the Association of Bermuda Insurers and Reinsurers (ABIR) and EY as headline sponsors, will kick off with a keynote conversation featuring Bermuda’s Premier, The Hon. David Burt, JP, MP.

The keynote conversation will be followed by a group CEO panel moderated by Sophie Roberts, Head of The Insurer TV, that includes Peter Bell, CEO & Managing Director, Everest Re, Stephen Catlin, Executive Chairman, Convex (Past Chair & Deputy Chair ABIR), Christopher Schaper, CEO, AIG Re (ABIR Deputy Chair), and Megan Thomas, CEO, Hamilton Re.

In terms of sponsorships, the BDA is pleased to announce that Hyperexponential have come on board as a diamond sponsor, SS&C is a gold sponsor, AM Best and Kirkland & Ellis are silver sponsors, Demotech is WIFI sponsor, Aon is a supporting sponsor, and The Insurer is our official media partner. Other sponsorship opportunities are still available. Please e-mail bermudarisk@bda.bm if you wish to participate.

The overall theme of the 2023 Bermuda Risk Summit is ‘Innovation, Sustainability and Collaboration.

Some of the speakers confirmed to date include John Huff, CEO, ABIR, who will moderate a global capacity shortfall panel with Chris Bonard, CEO, ED Broking (Bermuda) Limited and Lara Mowrey, Global Head of Distribution, Guy Carpenter.

Suzanne Williams Charles, Director of Policy and Regulation, ABIR will moderate a panel of international regulators featuring Chlora Lindley-Myers, President, National Association of Insurance Commissioners and Gerald Gakundi, Director, Supervision (Insurance), Bermuda Monetary Authority and Andrew Dyer, Head of London Markets, Bank of England.

Craig Redcliffe, Partner, EY will moderate an evolution of partner capital panel featuring Jasmine Desilva, SVP ILS, Artex Capital Solutions, and Julia Henderson, Chief Commercial Officer, Vesttoo.

Joseph Petrelli, President, Demotech and Todd Kozikowski, President, 44North, LLC, will present their findings on Florida’s disparate litigation levels.

Christian Dunleavy, Group Chief Underwriting Officer, Aspen, Chris Hayward, Chief Underwriting Officer, MS Amlin Reinsurance and Kostya Zolotusky, CEO, Itasca Re will explore the growing significance of specialty lines.

Kerr Kennedy, Associate Partner, EY, will moderate the future of cyber reinsurance panel with Yosha Delong, Global Head of Cyber, Mosaic Insurance, Noel Pearman, SVP, Cyber Product Line Leader, AXA XL, Sebastien Plummer, Cyber Specialist Broker, Gallagher Re, and Edouard Von Heberstein, CEO Spectra.

William C. Stone, founder, chair and CEO of SS&C, will speak about how (re)insurers can leverage innovation and technology with Alex Huang, Chief Risk Officer, Sun Life International.

Susanne Murphy, Insurance Regulatory Consultant, Meenan P.A. will discuss market perspectives from Florida’s C -Suite with Tom Gallagher, COO, People’s Trust Insurance Company.

Edward Mishambi, SVP and Chief Risk Officer-Europe, Renaissance Re who will moderate a panel entitled global financing conditions – a rating agency discussion that features Peter Giacone, Global Head of Insurance, KBRA, Stefan Holzberger, Chief Rating Officer, AM Best, and Joseph Petrelli.

A panel discussing investor’s experiences of Bermuda featuring Scott Frederick, Managing Partner, Sands Capital Ventures, Adrian Jones, Managing Director, Re/Insurance and Partner, HSCM Ventures, and Armin Rothauser, Senior Partner, Castlelake Investments will be moderated by Stephen Weinstein,
past BDA Chair.

Curtis Dickinson, Executive Adviser, Bermuda International Long-Term Insurers and Reinsurers (BILTIR) will moderate an updates from the life sector panel featuring Mark Yu, Head of Enterprise Capital Strategy, New England Asset Management, James Claxton, Associate Partner, EY, Martin Maringi, Deputy Director, Supervision (Insurance), BMA and Michelle Moloney, EVP Chief Risk Officer, Pacific Life Reinsurance.

Saadia Savory, Vice President, Excess Casualty, Aspen, and Shannon Totten, SVP, Casualty Insurance Practice Leader Bermuda, Sompo International, will discuss Bermuda’s vibrant casualty lines of business.

And finally, Gero Michel, Group CRO, AIG Re will discuss the future of risk with Tom Johansmeyer, SVP, Head of PCS, Verisk and Andrew Smith-Chief Risk & Sustainability Officer, Conduit Re.

The full agenda is available here.

Register Today

Posted January 17th, 2023 by Melvin Dickinson & filed under News, Press Release.

Register Today | Bermuda Risk Summit Agenda

Hamilton, Bermuda, January 17, 2023 — The second annual 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 begin on March 6 with a keynote conversation with Bermuda’s Premier, The Hon. David Burt, JP, MP, followed by a group CEO panel.

Sophie Roberts, Head of The Insurer TV, will moderate the opening panel featuring Peter Bell, CEO & Managing Director, Everest Re, Stephen Catlin, Executive Chairman, Convex (Past Chair & Deputy Chair ABIR), Christopher Schaper, CEO, AIG Re (ABIR Deputy Chair), and Megan Thomas, CEO, Hamilton Re.

David Hart, CEO, BDA said, “The BDA is so pleased to be able to once again present this flagship event, which showcases the entire breadth and depth of the world’s risk capital. The Bermuda Risk Summit creates both long-term business development growth potential, in terms of deal making opportunities around the event in front of an extremely important June 1 renewal season, as well as, the immediate economic impacts of attracting business travelers to Bermuda that week.”

The immediate economic impact of last year’s event, which had 350 delegates (80 from overseas), including lodging, transportation, food and beverage, retail, and recreation, was estimated at over one million dollars, and supported around 200 jobs. This figure does not include the additional visitors who flew to Bermuda for business meetings around the event. The BDA anticipates an even stronger attendance level this year, as we continue to assist with building out Bermuda’s globally significant risk and insurance sector and showcasing Bermuda’s strengths.

Potential registrants are strongly encouraged to act soon to receive the early bird registration price, of $395, ending next Friday, 27 January. Included in the early bird price are keynote breakfasts, networking breaks and lunches at Hamilton Princess Hotel, an evening seaside soiree at the Hamilton Beach Club and an island lunch cruise. Visit our event webpage to register.

Overseas guests should also act before Friday, February 3 to secure special hotel room rates. After February 3, hotel room prices will increase significantly, or be completely sold out, due to limited availability. To book your room please call 1-441-295-3000 or the Global Reservations Centre on 1-800- 441-1414. Alternatively, click here to reserve your room online. Please use booking code: ‘Bermuda Risk’ to take advantage of the preferred rate.

In terms of sponsorships, the BDA is pleased to announce that Hyperexponential have come on board as a diamond sponsor, SS&C is a gold sponsor, AM Best and Kirkland & Ellis are silver sponsors, Demotech is WIFI sponsor, and The Insurer is our official media partner. Other sponsorship opportunities are still available. Please e-mail bermudarisk@bda.bm if you wish to participate.

The overall theme of the 2023 Bermuda Risk Summit, being held from March 6-8, is ‘Innovation, Sustainability and Collaboration.

Speakers confirmed to date include Suzanne Williams Charles, Director of Policy and Regulation, ABIR will moderate a panel of international regulators featuring Chlora Lindley-Myers, NAIC President and Director of the Missouri Department of Commerce and Insurance, and Gerald Gakundi, Director, Supervision (Insurance), Bermuda Monetary Authority.

Craig Redcliffe, Partner, EY will moderate an ‘Evolution of Partner Capital’ panel featuring Jasmine Desilva, SVP ILS, Artex Capital Solutions, and Julia Henderson, Chief Commercial Officer, Vesttoo.

Joseph Petrelli, President, Demotech and Todd Kozikowski, President, 44North, LLC, will present their findings on Florida’s disparate litigation levels.

A panel discussing investor’s experiences of Bermuda will feature, Scott Frederick, Managing Partner, Sands Capital Ventures, Adrian Jones, Managing Director, Re/Insurance and Partner, HSCM Ventures, and Armin Rothauser, Senior Partner, Castlelake Investments.

Peter Giacone, Global Head of Insurance, KBRA, Stefan Holzberger, Chief Rating Officer, AM Best, and Joseph Petrelli, President, Demotech will speak on a panel entitled ‘Global Financing Conditions –
A Rating Agency Discussion.’

Kerr Kennedy, Associate Partner, EY, will moderate Yosha Delong, Global Head of Cyber, Mosaic Insurance, Noel Pearman, SVP, Cyber Product Line Leader, AXA XL, Sebastien Plummer, Cyber Specialist Broker, Gallagher Re, and Edouard Von Heberstein, CEO Spectra who will explore the future of cyber reinsurance.

Saadia Savory, Vice President, Excess Casualty, Aspen, and Chris Hayward, Chief Underwriting Officer, MS Amlin Reinsurance, Mark Wheeler, Co-Chief Executive Officer & Director, Mosiac and Kostya Zolotusky, CEO, Itasca Re will explore diverse specialty lines of business.

And last but certainly not least, founder, chairman and CEO of SS&C, William C. Stone, will speak about innovative technology with Alex Huang, Chief Risk Officer, Sun Life International.

Register Today | Bermuda Risk Summit Agenda

Posted January 16th, 2023 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, January 16, 2022 — The Bermuda Business Development Agency (BDA) is pleased to announce that Kendaree Burgess is the BDA’s new Chief Operating Officer (COO).

Reporting to the CEO, Ms. Burgess will oversee the BDA’s operations and manage internal processes, policies, and procedures to achieve our overall strategic goals and objectives; support and drive strategic priorities aligned to the CEO and board’s vision and guidance; and create, enhance and review operational systems and frameworks that ensure delivery of our core mission, while maintaining a focus on capital, resources, and efficiency.

David Hart, BDA CEO said, “After an open and competitive search, we are excited to announce that Kendaree Burgess has accepted the position of COO at the BDA. The wealth of talent located in Bermuda never ceases to amaze me, and we look forward to Kendaree bringing her significant experience to our team, particularly those skills garnered since May 2014 in her role as CEO of the Bermuda Chamber of Commerce.”

As CEO of the Bermuda Chamber of Commerce, Ms. Burgess not only focused on economic development, public policy and fiscal responsibility, but also helped drive legislative changes to benefit industry, and successfully shepherded a game changing report for Bermuda’s future economic development.

A career executive with over 25 years’ experience, Ms. Burgess has gained invaluable insights across a wide range of sectors including financial services, hospitality, and healthcare.

Ms. Burgess said, “The purpose of the BDA is to promote and protect, in collaboration with Government and the private sector, sustainable and equitable economic growth, diversity and prosperity in Bermuda. I am thrilled to be joining a team with such an important mission, at such a critical time.”

Ms. Burgess will officially begin at the BDA on March 6, 2023, which coincides with the BDA’s Bermuda Risk Summit, March 6-8, 2023.

Posted December 13th, 2022 by Melvin Dickinson & filed under News, Press Release.

Michael Hanson Elected as New BDA Board Chair

Stuart Lacey Joins as New Director

Hamilton, Bermuda, December 13, 2023 — On December 5, the Bermuda Business Development Agency (BDA) held its Annual General Meeting and Board of Directors meeting. At this meeting, the BDA board unanimously elected Michael Hanson to be the BDA’s new Chair, and Susan Pateras, as Deputy Chair.

Mr. Hanson said, “Like many organisations, the BDA has had to weather extraordinary circumstances over the past 12 months. So, in that context, I would first like to recognise the incredible BDA employees, who have been exemplary in their relentless focus on our mission to grow and diversify the Bermuda economy. The Board recognises their efforts, and we take very seriously our collective mandate to positively impact inward investment into our island’s economy. We continue this mission with significant intent.”

Mr. Hanson continued, “I also would like to specifically mention some of our fellow Directors who rotate off the Board this year at the completion of our prescribed six-year terms. On behalf of the entire BDA, we thank Stephen Weinstein for his years of service, particularly for his last two as Chair when he helped to steer the organisation through strategic and operational changes that positioned the BDA to continue and enhance its vital mission. Stephen’s passion and vision to maintain and expand Bermuda’s global re/insurance leadership, to establish Bermuda as a climate finance capital, and his tireless energy in organising our inaugural Bermuda Climate and Risk Summits are well known to many.”

“We also thank Andrea Jackson for her consistent and strong advocacy for over six years in the Private Client and High Net Worth sector. Andrea will be sorely missed – as will Barclay Simons, whose assistance on the financial challenges of COVID 19 proved invaluable. Stephen, Andrea and Barclay continue to be huge supporters of Bermuda and will remain engaged in the BDA’s important mission in various other capacities.”

“Finally, I would also like to welcome Stuart Lacey to the Board. Stuart is the current CEO of Summit Junto, a global community of innovators, leaders, change makers and visionaries bound through carefully curated forums and advisory boards to maximise impact and positive change. Prior to this, Mr. Lacey spent over 20 years founding multiple class-leading businesses, where he applied his leadership experience in the C-Suite of global financial and technology markets, developing a keen eye for identifying talent, growing successful teams, and harnessing technology to create innovative, global solutions. Most recently, Stuart has also co-founded the Bermuda Clarity Institute, a premier executive leadership, management consultancy and experiential training institute in Bermuda that drives performance by providing organisational clarity. We look forward to his contribution over this next critical year as Bermuda faces a myriad of macro political and socioeconomic issues and opportunities.”

Posted November 22nd, 2022 by Melvin Dickinson & filed under News, Press Release.

ABIR and EY Return as Headline Sponsors for 2023 Bermuda Risk Summit

Hamilton, Bermuda, November 22, 2022 — The Bermuda Business Development Agency (BDA), is pleased to announce that it has secured two headline sponsors for its second annual Bermuda Risk Summit being held on March 6-8, 2023.

The theme of the 2023 Bermuda Risk Summit, presented by the BDA, is ‘Innovation, Sustainability and Collaboration.’

David Hart, BDA CEO said, “We greatly appreciate the generous support of our industry stakeholders and partners and are so pleased that the Association of Bermuda Insurers and Reinsurers (ABIR) and EY have both returned as headline level sponsors for our second annual Bermuda Risk Summit. Back in March, the BDA was proud to hold the first in-person risk event in Bermuda since the start of the pandemic. And as outstanding as the Inaugural Risk Summit was, we have every expectation that the second annual Bermuda Risk Summit will exceed it in showcasing our strengths as the risk capital of the world.”

The immediate economic impact of the 2022 event, which had a total of 350 delegates (80 from overseas), including lodging, transportation, food and beverage, retail and recreation was estimated at over one million dollars, and supported around 200 jobs, not including the additional visitors who flew to Bermuda for business meetings around the event. As we head into the important June 1 renewal season, we anticipate another very strong attendance level in March 2023.

Marc Grandisson, Association of Bermuda Insurers and Reinsurers (ABIR) Chair and CEO of Arch Capital Group Ltd. said, “Next year marks ABIR’s 30th Anniversary, so it is fitting that ABIR, and its member companies are returning to support the Bermuda Risk Summit in 2023 as part of our continued long-term commitment to Bermuda and our international market. As the world’s most innovative and responsive (re)insurance market, ABIR’s aim is to support this event to provide our members and stakeholders an ideal opportunity to meet new and existing clients, to share ideas and best practices in person and to foster customer-driven solutions to close the global protection gap.”

John Huff, President & CEO, ABIR said “The Bermuda market value proposition of protecting consumers from natural catastrophes once again delivers as it is expected that Bermuda will back billions for Americans recovering from Hurricane Ian. The Bermuda Risk Summit is an ideal event to discover the peace of mind and innovation offered by Bermuda’s tremendous claims-paying capital and capacity.”

Jessel Mendes, Partner and Regional Markets Leader of the Bahamas, Bermuda, British Virgin Islands and Cayman Islands said, “EY is very pleased to be returning as a headline sponsor of the second annual Bermuda Risk Summit. High quality forums, such as this, are a terrific opportunity to feature all aspects of Bermuda’s leading global (re)insurance market and we are excited to be a part of it. Bermuda is known as the world’s risk capital, a well-deserved reputation built on a solid track record of innovation, growth, teamwork, and our ability to meet market demands. We, at EY, will leverage our global networks to highlight the Summit, Bermuda’s blue-chip reputation and bring valuable insights and perspectives on the latest developments and trends in the industry. We look forward to, once again, teaming with the BDA and building on last year’s success.”

The BDA is also pleased to announce that SS&C have come on board to sponsor our opening reception, and AM Best is lanyard sponsor. Other sponsorship opportunities are still available. Please e-mail bermudarisk@bda.bm if you wish to participate.

Planned content over the course of the Summit’s three half-days at the Hamilton Princess Hotel includes a keynote conversation with Bermuda’s Premier, a group CEO session, and a panel made up of local and overseas regulators.

Other topics and lines of business up for discussion include investors, brokers, rating agencies, Insurance Linked Securities (ILS), cyber/specialty lines, run-off, life, InsurTech, Florida post-Ian, and the future of risk.

Also included in the early bird registration price of $395 are keynote breakfasts, networking breaks and lunches, an evening seaside soiree at the Hamilton Beach Club and an island lunch cruise.

Visit our event webpage to register. To book your guest room please call 1-441-295-3000 or the Global Reservations Centre on 1-800-441-1414. Alternatively, click here to reserve your room online. Please use booking code: ‘Bermuda Risk’ to take advantage of the preferred rate.

Posted November 21st, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda Represented at International Private Client Forum in Lake Como, Italy

Hamilton, Bermuda, November 21, 2022 — From November 17-19, a delegation from Bermuda travelled to Lake Como, Italy to promote Bermuda as a premier domicile for high-net-worth services to private client lawyers from all over the world

Representing the BDA was CEO David Hart and independent board member, Andrea Jackson, while senior representatives from Butterfield, Carey Olsen, Conyers, Harbour International, Meritus Trust, and Quadrant Advisors were also in attendance.

David Hart said, “The BDA’s main purpose here at the International Private Client Forum, which is held in association with Butterfield, is to share the message of Bermuda’s safety and stability as a blue-chip jurisdiction for attracting and welcoming foreign direct investment. There is a larger Bermuda delegation here beyond the BDA, including leading professionals in our legal, banking and trust communities, all of whom have substantial experience in advising high net worth individuals and families and are at the forefront of the private wealth industry.”

L – R: Alec Anderson, Quadrant Advisors; Lorinda Gazzard, Butterfield; Keith Robinson, Carey Olsen; Randal Krebs, Harbour International; Scott Pearman, Conyers; Craig W. MacIntyre, Conyers; David Hart, BDA; Andrea Jackson, BDA; Michael Neff, Butterfield; Kevin Dallas, Butterfield; Nir Sadeh, Butterfield; Jeffrey P. Elkinson, Conyers; Gina Pereira, Meritus Trust.

Michael Neff, Butterfield’s Managing Director of Bermuda and International Wealth, welcomed delegates to the three-day forum of panel discussions, roundtables and workshops. Carey Olsen Bermuda partner and head of the Bermuda disputes team, Keith Robinson, spoke on a panel session entitled ‘Drafting Carefully: Planning Lessons Learned from Recent Cases’ and Conyers director Scott Pearman joined a roundtable discussion entitled ‘Criminal Enforcement: Our Shifting Role’.

Bermuda’s attendance at what is referred to as the world’s preeminent gathering of private client lawyers builds on three major in-person high-net-worth services events that returned to Bermuda this summer, the first since 2019.

Along with Butterfield, the BDA co-sponsored a ‘Private Client Exchange Bermuda 2022’ event in June 28-29. This sold-out event brought about 50 of the world’s top lawyers to the St Regis Bermuda Resort.

As part of our commitment to Bermuda’s high net worth services industry, the BDA also sponsored two other in-person international trust and private investors events in June and July. These events not only brought global trust and legal leaders to the Island to discuss important hot topics and best practices but the immediate economic impact of the first two, including lodging, transportation, food and beverage, retail and recreation, was estimated at over half million dollars, and supported around 240 jobs.

If you would like to learn more about Bermuda’s high-net-worth services sector, contact Korrin Lightbourne, Senior Business Development Coordinator at info@bda.bm or +1 441 292 0632.

Posted November 7th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Promotes Bermuda as a Climate Risk Finance Capital at COP27

Hamilton, Bermuda, November 7, 2022 — The Bermuda Business Development Agency (BDA) will promote the attributes of the Island as a global climate risk finance capital at the 27^th United Nations Climate Change Conference (COP27), which begins today in Sharm El-Sheikh, Egypt, and runs through November 18.

The BDA’s presence at COP27 builds upon our efforts last year in Glasgow, Scotland when Bermuda’s Deputy Premier, Minister of Home Affairs, The Hon. Walter Roban, JP, MP, serving as Chair of the UK Overseas Territories Association at COP26, said any push on the global stage to become a key player of climate risk financing also had to include robust efforts at home to mitigate against the impacts of climate change.

BDA CEO, David Hart said, “Last year at COP26, the BDA felt we were in the right place at the right time to share Bermuda’s aspirations to serve as the climate risk finance capital of the world. One year on, as we continue to execute on our climate risk initiative, we look forward to conversations at COP27 with asset management leaders, entrepreneurs, tech innovators and NGOs interested in financing mechanisms to build climate resiliency, many of whom we met during our climate risk finance roadshows this past year.”

At COP26 the BDA hosted a Bermuda luncheon, for a diverse group of 50 climate leaders and potential partners from around the globe. At COP27 we are pleased to once again host a Bermuda climate risk finance reception at Hub Culture’s Climate Pavilion.

At this reception, the BDA will remind participants of Bermuda’s environmental leadership as we continue to address related environmental issues at home, including the future introduction of a Marine Development Act to provide the framework for the management of the Marine Spatial Plan and to introduce the governance structure of the Blue Economy Fund as well as the investment model for the Green Energy Fund.

In addition, our guests will hear about the strength of our human capital and how over the last several decades Bermuda has evolved into a globally significant property catastrophe (re)insurance market protecting some of the world’s most vulnerable areas from the worst effects of climate change, including floods, hurricanes, and wildfires. Since 1997 Bermuda’s commercial (re)insurers have paid out over a half a trillion dollars to policyholders and cedants in the US, EU, and UK.

Click here if you want to schedule a meeting with the BDA at COP27 from November 9-15, or learn more about the Bermuda COP27 reception on November 11, 2022, from 6.30 p.m. to 7.30 p.m.

And stay tuned to learn more about the BDA’s second annual Bermuda Climate Summit to be held June 26-27.

Posted October 30th, 2022 by Melvin Dickinson & filed under News, Press Release.

The Bermuda Business Development Agency’s (BDA) first in-person Bermuda Tech Summit since 2019 was hailed a great success. The fourth annual Bermuda Tech Summit was presented by the BDA, in partnership with government’s Economic Development Department (EDD) and FinTech industry association, NEXT Bermuda.

The immediate economic impact of this event at the Hamilton Princess Hotel from October 26-28, which had over 300 delegates (nearly 80 from overseas) including lodging, transportation, food and beverage, retail and recreation was estimated at $527,000 and supported 115 local jobs.

Fiona Beck, independent director and BDA board member, who led a conversation with SailGP at the Bermuda Tech Summit said, “The BDA continues to inspire, and the energy from SailGP for Bermuda was exciting to see. They are true world leaders in innovation and sustainability for sailing and they describe Bermuda as a pinnacle location, both on and off water. We are fortunate to have such committed partners.”

John Narraway, NEXT Bermuda, Founding Committee Member said, “This year’s summit is a realisation of several years of focused and collaborative effort to build momentum in the technology and digital assets space. We are witnessing the growth of new jobs as our member companies scale-up their local operations, hiring experienced Bermudians transitioning from the traditional finance world to take on roles in areas such as compliance, risk management and human resources.”

Denis PItcher, Chief FinTech Advisor, Government of Bermuda said, “The BDA has done an outstanding job of pulling together an excellent, engaging and well attended Tech Summit despite the global downturn in traditional and digital asset markets. The attendance and feedback of the event confirms that FinTech continues to have strong momentum and growth ahead which matches the strong pipeline of digital asset business, insurers and funds that are looking to get licensed in Bermuda.”

Dan Thomson, CMO, InsurAce said, “We did not know what to expect from the Bermuda Tech Summit, but we have been blown away by the incredible hospitality and innovation shown by local government, businesses, and individuals. InsurAce has been looking for a regulatory framework that fits with our future vision and we are delighted to be exploring the opportunity to build our business in Bermuda. We cannot wait to come back.”

David Hart, BDA CEO said, “On behalf of the BDA, I want to thank our partners, sponsors, speakers and engaged guests for making this such an incredible Tech Summit that showcased Bermuda’s dynamic and growing tech sector and innovation leadership.”

Without the generous support of our sponsors: Hub Culture, RELM, Appleby, SailGP, Carey Olsen, Jewel Bank, Walkers, and Bittrex Global; as well as Apex, Blockchain Triangle, Bloktime, Clarien, Chainproof, Coinzoom, Global Policy House, Hive, and 24 Exchange, we could not put on this in-person event. Our spirits partner was Goslings.

Day one’s keynote fireside chat with Bermuda’s Premier and Minister of Finance, The Hon. David Burt, JP, MP and Michael Casey, Chief Content Officer, CoinDesk, was followed by a regulatory panel, a crypto lending and yield products panel, a NEXT Bermuda case study, a digital banking panel and a funds panel. Day one was rounded off with a SailGP welcome reception on the Regency Terrace.

Day two began with a conversation with SailGP, and was followed by a digital identity panel, a capital formation in a bear market panel, conversation about Non-Fungible Tokens (NFT), a (re)Insurance reimagined panel, and concluded with a panel entitled: ‘Is the Price Right for Trust and Liquidity?’

The final day began with an ‘ESG and DABs’ panel followed by a panel dealing with ‘Out of this world infrastructure’, a panel ‘Building and Nurturing a Sustainable Tech Ecosystem,’ and a panel about cyber security and concluded with a discussion about the future of technology. The wrap party sponsored by RELM Insurance featured live music and signature cocktails at the picturesque Fort Hamilton.

“The EDD’s Tech Education Day and TechAwards will be held 31 October, following which Bermuda Tech Week 2022 will officially come to a close,” Mr. Hart said. “The BDA looks forward to building on our success and bringing back an even better event in November 2023.”

Posted October 24th, 2022 by Melvin Dickinson & filed under News, Press Release.

The fourth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with government’s Economic Development Department (EDD) and FinTech industry association, NEXT Bermuda, will kick off in-person this Wednesday, 26 October, with a keynote fireside chat between Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP and Michael Casey, CoinDesk’s Chief Content Officer.

We are looking forward to welcoming a full room at the Hamilton Princess Hotel and Beach Club from October 26-28; just a handful of spaces are still available!

BDA CEO David Hart said, “The team and our partners have worked hard to bring some of the world’s leading tech luminaries, both from overseas and Bermuda, to our event to discuss cutting-edge tech innovations. Whether you are already working in technology or financial services, are a tech enthusiast from the general public, or one of the Bermuda College students who received a complimentary ticket to attend, we will have content that is of interest to you.”

The BDA thanks all its sponsors including Hub Culture, RELM, Appleby, SailGP, Carey Olsen, Jewel, Walkers, and Bittrex Global; as well as Apex, Blockchain Triangle, Bloktime, Clarien, Chainproof, Coinzoom, Global Policy House, Hive, and 24 Exchange. Our spirits parter is Goslings. Without the generous support of our sponsors, we could not put on this in-person event.

Following day one’s Keynote Fireside Chat, Michelle Chivunga, Founder and CEO, Global Policy House will moderate a Regulatory Panel with Moad Fahmi, Senior Advisor, FinTech, Bermuda Monetary Authority (BMA), Jeff Baron, Chief Compliance Officer, Bittrex Global, Cal Evans, Managing Associate, Gresham International, and Steven Rees Davies, Partner, Carey Olsen; Natalie Neto, Partner, Walkers, will moderate a Crypto Lending and Yield Products panel with Rachel Meyer, VP of Product Management, Circle, Yuri Mushkin, Chief Risk Officer, BlockFi and Karim Dandashy, Portfolio Manager, Stablehouse; Stafford Lowe, Founding Committee, NEXT Bermuda, will moderate a NEXT Bermuda Case Study featuring Sebastian Banescu, CEO, Chainproof; Jerome Wilson, Parter, Appleby, will moderate Digital Banking panel featuring Chance Barnett, Founder, Jewel Bank, George Mylonakis, Founder & CEO, BlockWRK and Ian Truran, CEO, Clarien Bank; Sarah Demerling, Partner, Walkers, Chair, AIMA Bermuda, will moderate a Funds Panel with Tim Calveley, Co-Founder, AltFi Capital Management, Lawrence Newhook, President & CEO, Alpha Innovations, Bruce Jackson, Director, Chief of Digital Asset Funds and Business, Apex Fund Management and Kevin Richards, Managing Director, Bermuda Asset Management. Day one will be rounded off with a SailGP welcome reception on the Regency Terrace.

Day two will start with a Conversation with SailGP featuring Andrew Thompson, Chief Commercial & Financial Officer, SailGP, Warren Jones, Chief Technology Officer, SailGP, athlete Dylan Fletcher and BDA independent director, Fiona Beck; Chris Brown, Director, AML/ATF, BMA will moderate a Digital Identity panel featuring ChaVon Clarke-Joell, Assistant Commissioner and Head of Policy & Engagement, Office of the Privacy Commissioner, Denis Pitcher, Chief Fintech Advisor, Government of Bermuda, Justin Newton, CEO, Netki and Drummond Reed, Director, Trust Services, Avast; Sandra Ro, CEO of the Global Blockchain Business Council (GBBC), will moderate a Capital Formation in a Bear Market panel with Jill Richmond, Managing Partner, Full Stack VC; Michael Branco, Founder & Chair, Celeste Ventures and Kasia Kostun, Investment Manager, XBTO Humla Ventures; Simone Smith-Bean, Managing Director, Smith Bean Co. will discuss Non-Fungible Tokens with Chris Christmas, Founder, BlockTime and Karee Luna, Founder, Hai Tyde; James Knox, Managing Director, Technology & Blockchain Industry-Regional Practice Leader, Aon Risk Solutions, will moderate a (Re)Insurance Reimagined panel with Adam Hofmann. Founder and CEO, Nimble, Sandra DeSilva, CEO, Nova Limited, Dan Roberts, CEO, NAYMS and Joseph Ziolkowski, CEO, RELM Insurance; Tim Reed, NEXT Bermuda, will moderate a panel entitled Is the Price Right for Trust and Liquidity featuring Jason Woerz, President, and COO, 24 Exchange; Kapil Rathi, Co-Founder and CEO, CrossTower and Karim Dandashy, CEO, XBTO Group.

The final day will begin with an ESG and DABs panel moderated by Charissa Ball, Council, Carey Olsen featuring Darren Wolfberg, CEO and Board Member, Blockchain Triangle, Silvio Pupo-Casco, Founder & CEO, Logos Capital, Todd White, Managing Director, Architect Partners and Peter Adriaens, Director, Center for Digital Asset Finance, University of Michigan College of Engineering; Fiona Beck will discuss space, satellites and sub-sea cables in an Out of this World Infrastructure panel with Joel Ogren, Assured Communications, Robert Brumley, CEO, Laser Light Companies, Comm Star, Sam Tabbara, CEO, Paradise Mobile, and Deon Doyle, Eastlink Bermuda; Erica Smith, Executive Director, Bermuda Economic Development Corporation (BEDC) will moderate a Building and Nurturing a Sustainable Tech Ecosystem panel with Kerem Kolcuoglu, Managing Partner, Penrose Partners, Sean Reel, Executive Director, Ignite Bermuda, and Aqsa Zubair, Assistant Director, FinTech, BMA; John Narraway, Founding Committee, NEXT Bermuda will discuss Cyber Security with Joe Addison, CIO, Salt Technology Group and Marelize le Roux, CFO, Gnosis; and Stan Stalnaker, Chief Strategy Officer & Founding Director, Hub Culture, will discuss the Future of Technology with Sandro Ro, Michael Casey, Denis Pitcher and Sheila Warren, CEO, Crypto Council for Innovation. The Summit will end at picturesque Fort Hamilton at a wrap party presented by Relm Insurance featuring live music and signature cocktails.

The Bermuda Tech Summit is the signature event of Bermuda Tech Week which starts today! The PGA Tour’s Butterfield Bermuda Championship is also taking place this week from Oct 27-30 and we are pleased to offer Bermuda Tech Summit attendees discounts to attend the golf.

Bermuda Tech Week includes several ancillary events which are listed on our website, such as tonight’s vertical farming roundtable; a blue economy roundtable, health care roundtable and Bermuda Innovation & Technology Association (BITA) cocktail reception on October 25; the Bermuda Chamber of Commerce’s virtual fireside chat with Sinead Bovell, and ‘WHAT THE NFT? at Bermuda Society of Arts on October 27; BEDC’s ‘Power Up With Web’ in-person event on October 28 with Sean Stapley, Partner, Penrose Partners and Stephanie Smellie, VP, Content + Entertainment Partnerships, Dapper Labs, and EDD’s Tech Education Day and TechAwards on October 31.

Posted October 12th, 2022 by Melvin Dickinson & filed under News, Press Release.

The Bermuda Business Development Agency (BDA) will launch its fourth annual Bermuda Tech Summit in-person two weeks today, 26 October.

The Bermuda Tech Summit is presented by the BDA, in partnership with government’s Economic Development Department (EDD) and FinTech industry association, NEXT Bermuda.

BDA CEO David Hart said, “We are so excited about our Bermuda Tech Summit being just a fortnight away and while tickets are selling fast, some spaces are still available. We are pleased to report, in furtherance of the BDA’s critical mission to promote sustainable and equitable economic growth, diversity and prosperity in Bermuda, the BDA has provided four complimentary passes to Bermuda College students. We hope that attending this important in-person event will serve as a springboard to rewarding and fulfilling careers in Bermuda for these young tech enthusiasts.”

The BDA is also delighted to announce that Appleby is a platinum level sponsor, alongside SailGP.

Jerome Wilson, Appleby partner and head of Appleby’s Technology and Innovation practice in Bermuda, said: “It is a real pleasure to continue our support of the Bermuda Tech Summit. There is no question that Bermuda’s position as a leading global hub for blockchain and fintech is solidifying – a testament to the island’s robust regulation under DABA (Digital Assets Business Act), which supports the stages of developing, testingand launching products, and to Bermuda’s business ecosystem as a whole. The Bermuda Tech Summit is an increasingly important event for the island as we look to keep pace in this rapidly evolving sector. I look forward to participating and hearing the views of speakers and delegates around innovation, and how we here in Bermuda can be involved with moving this space forward.”

The BDA thanks all its sponsors including: Hub Culture, RELM, Appleby, SailGP, Carey Olsen, Jewel, Walkers; as well as Apex, Blockchain Triangle, Bittrex Global, Clarien, Chainproof, Coinzoom and 24 Exchange. Without their generous support, we could not put on this event at the Hamilton Princess Hotel and Beach Club from October 26-28. If your company is interested in becoming a sponsor, click here to learn more.

Day one will open with a Keynote Fireside Chat between Michael Casey, Chief Content Officer, CoinDesk and Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP; Michelle Chivunga, Founder and CEO, Global Policy House will moderate a Regulatory Panel with Moad Fahmi, Senior Advisor, FinTech, Bermuda Monetary Authority (BMA), Jeff Baron, Chief Compliance Officer, Bittrex Global, Cal Evans, Managing Associate, Gresham International, and Steven Rees Davies, Partner, Carey Olsen; Natalie Neto, Partner, Walkers, will moderate a Crypto Lending and Yield Products panel with Yuri Mushkin, Chief Risk Officer, BlockFi and Karim Dandashy, Portfolio Manager, Stablehouse; Stafford Lowe, Founding Committee, NEXT Bermuda, will moderate a NEXT Bermuda Case Study featuring Sebastian Banescu, CEO, Chainproof; Jerome Wilson, Parter, Appleby, will moderate Digital Banking panel featuring Chance Barnett, Founder, Jewel Bank, George Mylonakis, Founder & CEO, BlockWRK and Ian Truran, CEO, Clarien Bank; Sarah Demerling, Partner, Walkers, Chair, AIMA Bermuda, will moderate a Funds Panel with Lawrence Newhook, President & CEO, Alpha Innovations, Bruce Jackson, Director, Chief of Digital Asset Funds and Business, Apex Fund Management and Kevin Richards, Managing Director, Bermuda Asset Management.

Day two will start with a Conversation with SailGP featuring Warren Jones, Chief Technology Officer, SailGP athlete Dylan Fletcher and BDA independent director, Fiona Beck; Chris Brown, Director, AML/ATF, BMA will moderate a Digital Identity panel featuring Denis Pitcher, Chief Fintech Advisor, Government of Bermuda, Justin Newton, CEO, Netki and Drummond Reed, Director, Trust Services, Avast; Sandra Ro, CEO of the Global Blockchain Business Council (GBBC), will moderate a Capital Formation in a Bear Marketpanel with Jill Richmond, Managing Partner, Full Stack VC; Michael Branco, Founder & Chair, Celeste Ventures and Greg Carson, Managing Partner, XBTO Humla Ventures; Simone Smith-Bean, Managing Director, Smith Bean Co. will discuss NFTs and Durable Assets with Chris Christmas, Founder, BlockTime;James Knox, Managing Director, Technology & Blockchain Industry-Regional Practice Leader, Aon Risk Solutions, will moderate a (Re)Insurance Reimagined panel with Adam Hofmann. Founder and CEO, Nimble, Grainne Richmond, Executive Vice President – Head of Captives, Aon – Bermuda, Dan Roberts, CEO, NAYMS and Joseph Ziolkowski, CEO, RELM Insurance; Tim Reed, NEXT Bermuda, will moderate a panel entitled Is the Price Right for Trust and Liquidity featuring Jason Woerz, President, and COO, 24 Exchange; Kapil Rathi, Co-Founder and CEO, CrossTower and Karim Dandashy, CEO, XBTO Group.

The final day will begin with an ESG and DABs panel featuring Darren Wolfberg, CEO and Board Member, Blockchain Triangle, Silvio Pupo-Casco, Founder & CEO, Logos Capital, Todd White, Managing Director, Architect Partners and Peter Adriaens, Director, Center for Digital Asset Finance, University of Michigan College of Engineering; Fiona Beck will discuss space, satellites and sub-sea cables in an Out of this World Infrastructure panel with Joel Ogren, Assured Communications, Robert Brumley, CEO, Laser Light Companies, Comm Star, Sam Tabbara, CEO, Paradise Mobile, and Deon Doyle, Eastlink Bermuda; Jamillah Lodge, Communications and Development Director, Bermuda Economic Development Corporation (BEDC) will moderate a Building and Nurturing a Sustainable Tech Ecosystem panel with Kerem Kolcuoglu, Managing Partner, Penrose Partners, Sean Reel, Executive Director, Ignite Bermuda, and Aqsa Zubair

Assistant Director, FinTech, BMA; John Narraway, Founding Committee, NEXT Bermuda will discuss Digital Securities with Kyle Fry, CEO, DIGTL; and Stan Stalnaker, Chief Strategy Officer & Founding Director, Hub Culture, will bring our summit to a close with a Future of Technology panel featuring Sandro Ro, Michael Casey, Denis Pitcher and Sheila Warren, CEO, Crypto Council for Innovation.

The Bermuda Tech Summit is the signature event of Bermuda Tech Week, when the Island is expected to be extremely busy with the PGA Tour’s Butterfield Bermuda Championship also taking place from October 27-30. The BDA is proud to collaborate with the Butterfield Bermuda Championship to offer Bermuda Tech Summit attendees with discounts to attendee the PGA event.

Bermuda Tech Week includes several ancillary events, such as the Bermuda Chamber of Commerce’s virtual fireside chat with Sinead Bovell; ‘WHAT THE NFT? at Bermuda Society of Arts on October 27; BEDC’s ‘Power Up With Web’ in-person event on October 28 with Sean Stapley, Partner, Penrose Partners, Karee Luna, Founder & Creative Director, Hai Tyde’s, and Stephanie Smellie, VP, Content + Entertainment Partnerships, Dapper Labs, and EDD’s Tech Education Day and TechAwards on October 31.

NOTE TO EDITORS

Launched on June 10, 2022 ‘NEXT’ is Bermuda’s first digital asset business industry association. At launch, NEXT Bermuda was comprised of 14 companies fully licensed and regulated by the Bermuda Monetary Authority, including: Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance, Stablehouse, XBTO and 24 Exchange.

Posted October 7th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Targets Asian Market in Singapore Business Development Mission – October 10-14

Hamilton, Bermuda, October 7, 2022 — The Bermuda Business Development Agency (BDA) will travel to Singapore next week to meet with important strategic partners in the Asia and Pacific region.

David Hart, BDA CEO will represent the BDA during a series of business development meetings focusing on climate risk finance, technology, asset management, high net-worth services, and infrastructure.

“This is an incredibly opportune time to visit Singapore, whose importance as a global financial services hub was recently ranked third highest in a Global Financial Centres Index, overtaking Hong Kong as highest in Asia,” Mr. Hart said. “This business development mission to Singapore has been the centrepiece of our Asia strategy for 2022 and we are excited to finally be heading back in person for the first time since 2019.”

Seventeen meetings are already scheduled with senior representatives from several quality service providers, including law firms, as well as high-net-worth services, FinTech, and asset management providers. At these high value meetings, the BDA will promote the benefits of investing in and doing business with Bermuda, as well as Bermuda’s ongoing Economic Investment Certificate (EIC) initiative.

In addition, while in Singapore, the BDA will be attending an invite only family office conference and will round off the visit by speaking with members and leadership of the Singapore Business Federation.

“We thank all our Bermuda partners and stakeholders who opened doors to significant, value-added meetings during our time in Singapore,” Mr. Hart said.

Having just completed a similar overseas business development mission in Toronto, these targeted missions not only allow the BDA to tell Bermuda’s story, but also puts potential prospects in touch with our comprehensive concierge service, thereby ensuring as smooth an entry into Bermuda as possible.

The BDA’s continued mandate is to promote and protect, in collaboration with government and the private sector, sustainable and equitable economic growth, diversity and prosperity in Bermuda. The BDA serves as a vital conduit between industry and government, as well as new market entrants and Bermuda’s quality service providers.

If you are interested in speaking with the Bermuda delegation at the upcoming BDA roadshows this fall to Egypt or Italy, please contact info@bda.bm.

Posted September 27th, 2022 by Melvin Dickinson & filed under News, Press Release.

SailGP and Relm Insurance Sponsor Bermuda Tech Summit Receptions

Hamilton, Bermuda, September 27, 2022 – The Bermuda Business Development Agency (BDA), is pleased to announce that SailGP, the purpose-led globally racing league, and Relm Insurance have come on board to sponsor the opening and closing receptions of the 2022 Bermuda Tech Summit.

After two years of being held virtually, we are excited to be holding the fourth annual Bermuda Tech Summit in person at the Hamilton Princess Hotel and Beach Club from October 26-28. The Bermuda Tech Summit is presented by the BDA, in partnership with government’s Economic Development Department (EDD) and FinTech industry association, NEXT Bermuda.

SailGP CEO Sir Russell Coutts said, “Partnering with the Bermuda Tech Summit is an obvious fit for SailGP. Not only are we excited to be coming to the island again in Season 4 on May 4-5, 2023, but technology and innovation is part of our DNA. When we created SailGP our aim was to disrupt the industry and lead the way in terms of technology. We want to be at the forefront – not just what’s happening today – but looking at, and leading, what’s happening tomorrow, which aligns perfectly with the Tech Summit and this year’s theme of resilience and innovation.”

Relm CEO Joseph Ziolkowski said, “Relm is thrilled to be collaborating with the BDA, EDD, and NEXT Bermuda, to participate in and sponsor this year’s Bermuda Tech Summit. The theme, resilience and innovation is more relevant than ever, and we look forward to a three-day brainstorm with the impressive line-up of speakers and all the attendees.”

David Hart, BDA CEO said, “We are just so excited and appreciative that SailGP and Relm were able to come on board to sponsor our opening and closing receptions. In addition, we are thrilled that Carey Olsen, Walkers, Jewel Bank, Bittrex Global, Chainproof, Coinzoom and Apex have also come on board as Bermuda Tech Summit sponsors, joining Hub Culture, Appleby, 24 Exchange, Clarien, and Blockchain Triangle. Without the generous support of our sponsors, we could not put on this important in-person event highlighting Bermuda’s dynamic tech sector, leadership, and innovation.”

If your company is interested in becoming a sponsor, click here to learn more.

Bermuda Tech Week is expected to be an extremely busy period here in Bermuda, with the PGA Tour’s Butterfield Bermuda Championship also taking place from October 27-30. Friday 30 September is the final day to book your discounted hotel rooms at the Hamilton Princess and Beach Club via this link. Please book soon to avoid disappointment!

Confirmed Bermuda Tech Summit speakers include Michael Casey, Chief Content Officer, CoinDesk, who will open day one with a Keynote Fireside Chat with Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP; Moad Fahmi, Senior Advisor, FinTech, Bermuda Monetary Authority (BMA), will appear on a Regulatory Panel with Michelle Chivunga, Founder and CEO, Global Policy House; Natalie Neto, Partner, Walkers, will moderate a ‘Crypto Lending and Yield Products’ panel with Yuri Mushkin, Chief Risk Officer, BlockFi; Stafford Lowe, NEXT Bermuda, will moderate a NEXT Bermuda Case Study featuring Sebastian Banescu, CEO, Chainproof; Jerome Wilson, Parter, Appleby, will moderate ‘Bank On It’ a digital banking panel featuring Chance Barnett, Founder, Jewel Bank and Jeff Baron, Chief Compliance Officer, Bittrex Global; Elizabeth Denman, Director, Conyers will moderate a Funds Panel with Lawrence Newhook, Alpha Innovations, Bruce Jackson, Director, Chief of Digital Asset Funds and Business, Apex Fund Management and Kevin Richards, Bermuda Asset Management.

Day two of the Bermuda Tech Summit will start with a ‘Navigating Economic and Political Volatility’ conversation with Cal Evans, Managing Associate, Gresham International; followed by a Digital Identity panel moderated by Chris Brown, Director, AML/ATF, BMA featuring Denis Pitcher, Chief Fintech Advisor, Government of Bermuda – Premier’s Office of Fintech, and Drum Reed, Chief Trust Officer, Evernym; Sandra Ro, CEO of the Global Blockchain Business Council (GBBC), will moderate a ‘Capital Formation in a Bear Market panel with Kevin Withane, Founder, Diversity-X, Jill Richmond, Managing Partner, Full Stack VC and Greg Carson, Managing Partner, XBTO Humla Ventures; Simone Smith-Bean, Managing Director, Smith Bean Co. and Chris Christmas, Founder, BlockTime will discuss ‘NFTs and Durable Assets’; James Knox, Managing Director, Technology & Blockchain Industry-Regional Practice Leader, Aon Risk Solutions, will moderate a ‘(Re)Insurance Reimagined’ panel with Dan Roberts, CEO, NAYMS and Joseph Ziolkowski, CEO, RELM Insurance; and Tim Reed, NEXT Bermuda, will moderate a panel entitled ‘Is the Price Right for Trust and Liquidity?’ featuring Jason Woerz, President and COO, 24 Exchange; Kapil Rathi, Co-Founder and CEO, CrossTower and Karim Dandashy, CEO, XBTO Group.

The final day of the 2022 Tech Summit will begin with an ‘ESG and DABs’ panel featuring Darren Wolfberg, CEO and Board Member, Blockchain Triangle and Peter Adriaens, Director, Center for Digital Asset Finance, University of Michigan College of Engineering; Steven Rees Davies, Partner, Carey Olsen will moderate a ‘Building and Nurturing a Sustainable Tech Ecosystem’ panel with Kerem Kolcuoglu, Managing Partner, Penrose Partner; Fiona Beck, BDA board member, will discuss space, satellites and sub-sea cables in an ‘Out of this World Infrastructure’ panel with Joel Ogren, Assured Communications and Deon Doyle, Eastlink Bermuda; and Stan Stalnaker, Chief Strategy Officer & Founding Director, Hub Culture, will moderate a panel about the ‘Future of Technology’ with Sandro Ro, Michael Casey and Denis Pitcher.

The Bermuda Tech Summit is the signature event of Bermuda Tech Week which includes several ancillary events, such as the Bermuda Chamber of Commerce’s virtual fireside chat with Sinead Bovell on October 27, the Bermuda Economic Development Corporation’s (BEDC) ‘Power Up With Web’ in-person event on October 28, and the EDD’s Tech Education Day on October 31.

Tech Week attendees will also have an opportunity to network with Tugce Ergul, Founder, Angel Labs; Cal Evans, Managing Associate, Gresham International; Karee Luna, Founder & Creative Director, Hai Tyde’s; John Narraway, NEXT Bermuda; Stephanie Smellie, VP, Content + Entertainment Partnerships, Dapper Labs; and Sean Stapley, Partner, Penrose Partners.

NOTE TO EDITORS

Launched on June 10, 2022 ‘NEXT’ is Bermuda’s first digital asset business industry association. At launch, NEXT Bermuda was comprised of 14 companies fully licensed and regulated by the Bermuda Monetary Authority, including: Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance, Stablehouse, XBTO and 24 Exchange.

Posted September 15th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Promotes Bermuda’s Risk and Innovation Excellence at InsureTech Connect

Hamilton, Bermuda, September 15, 2022 — The Bermuda Business Development Agency (BDA) is sending a delegation to the InsureTech Connect event in Las Vegas from September 20-22.

BDA Chair, Stephen Weinstein, will speak on a panel entitled ‘Commercial Property Insurance: Catastrophic Events and Novel Risks’ on Wednesday, September 21. BDA CEO, David Hart, and BDA Senior Business Development Coordinator, Korrin Lightbourne, will complete the BDA delegation.

David Hart said, “It is the perfect time to return to InsureTech Connect, not only for the opportunity to remind attendees that Bermuda remains the world’s risk capital from the stage, but also for the multiple business development opportunities brought about by having an in-person presence at the world’s largest insuretech event. We already have multiple meetings in place with various companies and look forward to sharing the advantages of our blue-chip jurisdiction, including Bermuda’s regulatory excellence, impressive human capital, and spirit of innovation.”

Korrin Lightbourne said, “I am extremely pleased to have the opportunity to represent Bermuda at InsureTech Connect. Our aim is to inform innovators that the island is the perfect place to beta-test new technologies and open the door to new opportunities for the Bermudian workforce. Bermuda’s extensive history in (re)insurance and burgeoning tech sector make us an ideal choice for insuretechs. If any attendees are interested in meeting with me, or any other member of the BDA delegation, please email us at info@bda.bm, or connect with us on the ITC app.”

After ITC, the BDA will demonstrate how Bermuda is a centre of resilience and innovation at its fourth annual Bermuda Tech Summit from October 26-28. (Today (September 15) is the last day to receive the early bird rate and hotel space is extremely limited – book soon to avoid disappointment!) And Bermuda’s position as the world’s risk capital will be explored in full at the second annual Bermuda Risk Summit being held from March 6-8, just in time for the June 1 renewal season. Both events will be held at the Hamilton Princess Hotel and Beach Club.

Posted September 14th, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda Tech Summit Early Bird Rate Closes Tomorrow – September 15

Hamilton, Bermuda, September 14, 2022 – Tomorrow (September 15) is the last day to secure an early bird rate to attend the Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with government’s Economic Development Department (EDD) and industry association, NEXT Bermuda.

After two years of being held virtually, we are excited to be holding the fourth annual Bermuda Tech Summit in person at the Hamilton Princess Hotel and Beach Club, from October 26-28.

David Hart, BDA CEO said, “Bermuda Tech Week is expected to be an extremely busy period here in Bermuda, with the PGA Tour’s Butterfield Bermuda Championship also taking place from October 27-30. Hotel spaces are very limited, so we strongly encourage potential Bermuda Tech Summit attendees to book their hotel rooms as soon as possible to secure accommodation, and to register by September 15 to receive the early bird rate.”

Effective 16 September, Bermuda Tech Summit registration will increase from $295 to $395.

Newly confirmed speakers include Michael Casey, Chief Content Officer, CoinDesk, who will open the summit with a keynote fireside chat with Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP; Stan Stalnaker, Chief Strategy Officer & Founding Director, Hub Culture, will moderate a panel about the future of technology; Moad Fahmi, Senior Advisor, FinTech, Bermuda Monetary Authority, will appear on a regulatory panel with Michelle Chivunga, Founder and CEO, Global Policy House; Chris Brown, Director, AML/ATF, Bermuda Monetary Authority, will moderate a digital identity panel; and Stafford Lowe, NEXT Bermuda, will moderate a case study about Bermuda’s first digital asset business association.

Mr Hart said, “I am also just so thrilled to announce that SailGP and Clarien have come on board as Bermuda Tech Summit sponsors, joining Hub Culture, Appleby, 24 Exchange, and Blockchain Triangle. Without the generous support of our sponsors, we could not put on this important in-person event highlighting Bermuda’s dynamic tech sector, leadership, and innovation.”

If your company is interested in becoming a sponsor, click here to learn more.

Set against the stunning backdrop of Hamilton Harbour, Bermuda Tech Summit delegates will hear senior policymakers, FinTech-leaders, and international regulators provide thought-provoking content over three half days, with afternoons left free for C-suite networking opportunities and local excursions, such as the PGA golf (for tickets, please visit their website.)

In terms of other confirmed summit speakers, Jerome Wilson, Parter, Appleby, will moderate “Bank On It” a digital banking panel featuring Chance Barnett, Founder, Jewel Bank; Tim Reed, Director, NEXT Bermuda, will moderate a panel entitled “Is the Price Right for Trust and Liquidity?” featuring Dmitri Galinov, Co-Founder, 24 Exchange and Jeff Baron, Chief Compliance Officer, Bittrex Global; Dan Roberts, CEO, NAYMS and James Knox, Managing Director, Technology & Blockchain Industry-Regional Practice Leader, Aon Risk Solutions, will speak on a “(Re)Insurance Reimagined” panel; Natalie Neto, Partner, Walkers, will moderate a “Crypto Lending and Yield Products” panel; and Fiona Beck, Non-Executive Director, BDA, will discuss space, satellites and sub-sea cables in an “Out of this World Infrastructure” panel with Joel Ogren, Assured Communications and Deon Doyle, Eastlink Bermuda.

Tech Summit attendees will also have an opportunity to network with Elizabeth Denman, Director, Conyers; Tugce Ergul, Founder, Angel Labs; Cal Evans, Managing Associate, Gresham International; Karee Luna, Founder & Creative Director, Hai Tyde’s; John Narraway, NEXT Bermuda; Lawrence Newhook, Alpha Innovations; Stephanie Smellie, VP, Content + Entertainment Partnerships, Dapper Labs; and Sean Stapley, Partner, Penrose Partners.

The Bermuda Tech Summit is the signature event of Bermuda Tech Week which includes several ancillary events, such as the Bermuda Chamber of Commerce’s virtual fireside chat with Sinead Bovell on October 27, the Bermuda Economic Development Corporation’s (BEDC) ‘Power Up With Web’ in-person event on October 28, and the EDD’s Tech Education Day on October 31.

Erica Smith, Executive Director, BEDC said, “The BEDC is thrilled to be hosting an event for Tech Week. We are excited about our very own Bermudian Stephanie Smellie, coming home to discuss her experience as a leader in Web3. Stephanie being on Island presents a great opportunity for local entrepreneurs to learn how best to utilize web3 technology to take their businesses to the next level.”

NOTE TO EDITORS

Launched on June 10, 2022 ‘NEXT’ is Bermuda’s first digital asset business industry association. At launch, NEXT Bermuda was comprised of 14 companies fully licensed and regulated by the Bermuda Monetary Authority, including: Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance, Stablehouse, XBTO and 24 Exchange.

Posted September 13th, 2022 by Melvin Dickinson & filed under News, Press Release.

Help Chart Future Course For ‘International Business is Everybody’s Business’ Campaign

Hamilton, Bermuda, September 13, 2022 — Since 2013, the Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda International Companies (ABIC) and Association of Bermuda Insurers and Reinsurers (ABIR), have run an ‘international business is everybody’s business’ publicawareness campaign.

As the BDA, ABIC, ABIR and Bermuda International Long-Term Insurers and Reinsurers (BILTIR) embark upon 2022 campaign, we need to hear from the public to ensure that our objectives remain fit for purpose.

Richard Winchell, ABIC’s Executive Director said, “The objective of the ‘everybody’s business’ campaign is to inform on the value and importance of international business to the Bermuda economy and to every Bermudian, for example, that international business provides careers for Bermudians and consistently contributes over one quarter of Bermuda’s total Gross Domestic Product (GDP). The programme provides information and perspectives on the wide-range and critically important benefits of the international business sector – to the island’s overall economy, to job creation and the quality of life for residents. Campaign outreach is through radio shows, digital ads, social media, print advertising, as well as (pre-covid) in-person visits to public schools.”

David Hart, BDA CEO said, “The purpose of the BDA is to promote and protect, in collaboration with government and the private sector, sustainable and equitable economic growth and prosperity in Bermuda. Our contributions to the annual ‘everybody’s business’ campaign is one way that we do this, but since the last survey was conducted back in 2015, we need updated data to gauge how various sections of the community now feel about international business, and how to best focus our ‘everybody’s business’ resources moving forward. We need your help to ensure the ‘everybody’s business’ campaign is of maximum benefit to Bermuda.”

Please complete the short survey here: https://www.surveymonkey.com/r/BDA_IBWeek_Survey

Posted September 12th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Takes Business Development Mission to Toronto – September 14-16

Hamilton, Bermuda, September 12, 2022 — For the first time since 2019, the Bermuda Business Development Agency (BDA) will travel to Toronto to promote Bermuda’s business development opportunities with our important strategic partners in Canada.

David Hart, BDA CEO, and Stephen Weinstein, BDA Chair will represent Bermuda during a series of business development meetings focusing on a wide range of sectors including, climate risk finance, technology, asset management, high net-worth services, and infrastructure.

Mr. Hart said, “We will be in Toronto this week, September 14-16, to promote the benefits of investing in and doing business with Bermuda, including our safety, stability, and high-quality regulatory environment. Ten targeted meetings are set in the calendar, including with representatives from risk and insurance, private equity, legal services, and technology. As Canadians are about to enter the cooler autumn months, we will also take the opportunity to highlight Bermuda’s ongoing Economic Investment Certificate (EIC) initiative.”

“These overseas business development missions not only allow us to tell the Bermuda story in a way that only we can, but also puts potential prospects in touch with the BDA’s comprehensive concierge service, ensuring new businesses experience as smooth an entry as possible into Bermuda,” Mr. Hart said. “The BDA’s continued mandate is to diversify and grow Bermuda’s economy and we serve as a vital touchpoint between new market entrants and Bermuda’s experienced service providers.”

If you are interested in speaking with the Bermuda delegation at any of the upcoming BDA roadshows this fall to Singapore, Egypt, or Italy, please contact info@bda.bm.

Posted September 7th, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda’s Risk Leadership Celebrated By African Risk Capacity

Hamilton, Bermuda, September 7, 2022 – The Bermuda Business Development Agency (BDA) was pleased to facilitate an important dialogue and award presentation between the board of directors of African Risk Capacity Limited (ARC Ltd.) and Bermuda’s Deputy Premier.

To recognise the formation of ARC Ltd. being formed in Bermuda ten years ago, ARC Ltd.’s board of directors travelled to Bermuda recently to hold its board meeting and presented an award to Bermuda’s Deputy Premier and Minister of Home Affairs, The Hon. Walter Roban JP, MP.

ARC Ltd. Chair, Abdoulie Janneh, commended Bermuda for its global risk leadership and continued support of ARC, an innovative public-private cooperation programme for the benefit of Africa. “ARC represents the nature of global cooperation required across all countries to help the international community achieve sustainable development goals and address the impacts of climate-related and other natural disasters on vulnerable populations,” Mr Janneh said. “The ARC Ltd. board held strategic meetings in Bermuda during the week and provided awards to recognise the innovative and continuous support of key financial sector service providers, including Marsh, Appleby, Butterfield, Deloitte and PwC.”

The Deputy Premier and Minister of Home Affairs, the Hon. Walter Roban, JP, MP, said, “On behalf of the government and people of Bermuda, it was a privilege to converse with and receive an award of appreciation from ARC Ltd. Bermuda has long helped to close the global climate risk protection gap and is a global leader in property catastrophe (re)insurance. It is extremely gratifying to see that we are also punching above our weight class when it comes to helping Africa. The Bermuda government welcomes the opportunity to play a role in supporting the African continent, and its many countries work to advance opportunities in the global environment. Bermuda is not only open for business, but we are also open for Africa.”

BDA CEO, David Hart said, “The BDA was pleased to facilitate these important meetings between the ARC Ltd. board and senior Bermuda officials. On May 24, 2022, the BDA was fortunate that ARC Ltd. CEO, Lesley Ndlovu, was able to speak on the ‘CEOs, Climate and Capacity’ panel at the Bermuda Climate Summit presented by the BDA. The BDA looks forward to continued engagements with this vital international organisation, hopefully at our second annual Bermuda Risk Summit being held from March 6-8, 2023.”

Over the 10 years since its formation, ARC Ltd. has provided insurance coverage to the value of over US $900 million, protecting over 90 million vulnerable people and paying out about US $124 million in insurance claims to participating African countries following droughts and tropical cyclone disasters. ARC Ltd.’s parametric insurance programmes have directly helped over 6 million beneficiaries, preventing loss of lives and livelihoods.

In July 2012, in response to the increasing climate change crisis, the heads of state and governments of the African Union, took a decision to establish ARC in Bermuda to help African countries strengthen their preparedness to manage weather-related disasters. In November 2012, the ARC Agency was created as a specialised agency of the African Union. In 2013, at the request of the ARC Agency’s member states, ARCLtd., a unique hybrid mutual insurance facility was created in Bermuda.

In his statement to Bermuda’s House of Assembly in May 2014, former Minister of Education and Economic Development, Dr. Grant Gibbons said ARC was Africa’s first catastrophe insurance pool, that it was established in Bermuda after considerable due diligence by international law firms and agencies, and that it was designed to help reduce African governments’ reliance on external emergency aid. It was also noted that Bermuda’s (re)insurance market was at forefront when it came to being able to form a fund to facilitate financial stability in instances where other insurance options were not available.

Posted September 2nd, 2022 by Melvin Dickinson & filed under News, Press Release.

The fourth annual Bermuda Tech Summit, presented by the Bermuda Business Development Agency (BDA), in partnership with government’s Economic Development Department (EDD) and industry association NEXT Bermuda will be held at the Hamilton Princess & Beach Club from October 26-28.

The Bermuda Tech Summit is the signature event of Bermuda Tech Week (October 24-31) which includes several ancillary events, such as the Bermuda Chamber of Commerce’s virtual fireside chat with Sinead Bovell on October 27, the Bermuda Economic Development Corporation’s (BEDC) ‘Power Up With Web’ in-person event on October 28, and the EDD’s Tech Education Day on October 31.

David Hart, BDA CEO said, “The BDA and our partners are incredibly excited to be organising the in-person Bermuda Tech Summit to showcase Bermuda’s dynamic tech sector, leadership, and innovation after two years of the conference being held virtually. Tech entrepreneurs, investors and digital asset enthusiasts across the globe interested in participating in the continued growth and development of Bermuda’s burgeoning tech ecosystem are encouraged to register for the Bermuda Tech Summit now and book their hotel rooms soon to avoid disappointment.”

The BDA is still offering an early bird rate but this rate will be gone by mid-September, and with the PGA Tour’s Butterfield Bermuda Championship also taking place from October 27-30, hotel rooms are filling up fast.

Set against the stunning backdrop of Hamilton Harbour, Bermuda Tech Summit delegates will hear senior policymakers, FinTech-leaders, and international regulators provide thought-provoking content over three half days, with afternoons left free for C-suite networking opportunities and local excursions, such as the PGA golf (for tickets, please visit their website.)

Exceptional Bermuda Tech Summit speakers confirmed to date include Bermuda’s Premier and Minister of Finance, The Hon. David Burt, JP, MP who will speak on the opening morning’s keynote fireside chat; Jerome Wilson, Parter, Appleby will moderate “Bank On It” a digital banking panel featuring Chance Barnett, Founder, Jewel Bank; Tim Reed, Director, NEXT Bermuda, will moderate a panel entitled “Is the Price Right for Trust and Liquidity?” featuring Dmitri Galinov, Co-Founder, 24 Exchange and Jeff Baron, Chief Compliance Officer, Bittrex Global; Dan Roberts, CEO, NAYMS and James Knox, Managing Director, Technology & Blockchain Industry-Regional Practice Leader, Aon Risk Solutions, will speak on a “(Re)Insurance Reimagined” panel; Natalie Neto, Partner, Walkers, will moderate a “Crypto Lending and Yield Products” panel; and Fiona Beck, Non-Executive Director, BDA, will discuss space, satellites and sub-sea cables in an “Out of this World Infrastructure” panel with Joel Ogren, Assured Communications and Deon Doyle, Eastlink Bermuda.

Tech Summit attendees will also have an opportunity to network with the following speakers: Michelle Chivunga, Global Fintech Advisory Board, Policy House; Chris Christmas, Founder, BlockTime; Elizabeth Denman, Director, Conyers; Tugce Ergul, Founder, Angel Labs; Cal Evans, Managing Associate, Gresham International; Karee Luna, Founder & Creative Director, Hai Tyde’s; John Narraway, NEXT Bermuda; Lawrence Newhook, Alpha Innovations; Stephanie Smellie, VP, Content + Entertainment Partnerships, Dapper Labs; Sean Stapley, Partner, Penrose Partners; and Darren Wolfberg, CEO and Board Member, Blockchain Triangle.

The BDA is grateful for the generous support of our sponsors: Hub Culture, Appleby, 24 Exchange and Blockchain Triangle. If your company is interested in becoming a sponsor, click here to learn more.

NOTE TO EDITORS

Launched on June 10, 2022 ‘NEXT’ is Bermuda’s first digital asset business industry association. At launch, NEXT Bermuda was comprised of 14 companies fully licensed and regulated by the Bermuda Monetary Authority, including: Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance, Stablehouse, XBTO and 24 Exchange.

Posted August 8th, 2022 by Melvin Dickinson & filed under News.

The Bermuda Business Development Agency (BDA) invites applications for the role of Chief Operating Officer.

This is an exciting opportunity to serve your country and join a dynamic and close-knit team dedicated to the important mission of growing and diversifying Bermuda’s economy. As part of the BDA’s executive team, reporting to the CEO, the Chief Operating Officer will oversee the organisation’s operations and manage internal processes, policies and procedures to achieve overall strategic goals and objectives; support and drive strategic priorities aligned to the CEO’s and board’s vision and guidance; and create, enhance and review operational systems and frameworks that ensure delivery of the strategic plan while maintaining a focus on capital, resources,and efficiency.

The ideal candidate will be passionate about, and come to us with a grounded understanding of Bermuda’s economy, attributes, and opportunities. This position will help further develop an already talented team with a unique mix of Bermuda-focused business and management expertise. We have our eyes open for a COO who has strong leadership skills, a commitment to Bermuda’s future, and a willingness to approach challenges collaboratively, creatively and with integrity.

The successful applicant will be expected to support and enhance a culture of collaboration, innovation, and continuous improvement. Other key responsibilities include but are not limited to: Data & Analytics, Finance, Operations, Legal, Compliance and Human Capital.

QUALIFICATIONS / EXPERIENCE

Minimum of 10 years of experience in an executive management position relevant to this role, with proven leadership experience
Masters or undergraduate degree from accredited institution required
Must possess excellent communication and presentation skills and be comfortable with initiating and maintaining relationships with stakeholders and C-level executives
Demonstrated track record of delivery, measurement and communication of tangible results against approved goals
Strong working knowledge of management practices, procedures, and governance as well as audit and P&L requirements
Solid grasp of process design and performance metrics
Ability to diagnose problems quickly and foresee potential issues
Computer proficiency with key knowledge of Salesforce, PowerBI and data analytics preferred

You are invited to apply by sending your resumé and cover letter to resumes@bda.bm

Closing Date: August 26, 2022

The BDA encourages direct investment and helps international companies start up, relocate or expand their business in Bermuda. An independent, public-private organisation, we connect prospective businesses to industry professionals, regulatory authorities and government officials to facilitate domicile decisions. We are an equal opportunity employer that respects the fundamental rights and freedoms of every person, regardless of race, origin, politics, religion, age or sex. We embrace an open, inclusive and respectful workplace.

6th Floor, Maxwell Roberts Building, 1 Church Street, Hamilton, HM 11, Bermuda

bda.bm | info@bda.com | @investBermuda

Posted July 25th, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda’s International Business Advantages Highlighted in Hong Kong Webinar

Hamilton, Bermuda, July 25, 2022 — Bermuda’s Premier & Minister of Finance, The Hon E. David Burt, JP, MP, and Bermuda Business Development Agency (BDA) CEO David Hart underscored Bermuda’s key advantages as an international business domicile during a Commonwealth Chamber of Commerce of Hong Kong webinar.

Premier Burt highlighted Bermuda’s stability, security, and reputation for regulatory excellence via our integrated, independent financial services regulator, the Bermuda Monetary Authority.

Premier David Burt said: “It was great to reiterate the Government’s continued support of international business in Bermuda and inform a new audience why Bermuda is the world’s risk capital and home to some of the world’s top (re)insurance companies. Whether talking to persons in San Francisco at RIMS, in Austin at Consensus, in London or Hong Kong our message remains the same; Bermuda is the best place in the world for setting up high-quality businesses, due in no small part to our sound regulation, capital efficiency, innovative spirit, collaborative culture, and burgeoning tech ecosystem.”

Mr. Hart said, “The last time the BDA was in Hong Kong was pre-COVID, in June 2019, and the last time I was there personally was in October 2018, so it was such a privilege to speak to this Hong Kong-based audience of legal and financial sector professionals about Bermuda’s unique strengths and opportunities, especially high-net-wealth services, asset management, tech and Bermuda’s Economic Investment Certificate. This webinar will be followed up with a BDA mission to Singapore this fall, as part of our broader Asia strategy.”

The webinar also featured Flora Wong, Corporate Partner at Conyers (Hong Kong), who emphasised the strength of Bermuda’s 400+ year legal system, usage of English common law and ease of doing business.

Click below to view a recording of this webinar, which was moderated by Andrew Wells, Secretary General, Commonwealth Chamber of Commerce, HK and Julia Charlton, Chair, Commonwealth Chamber of Commerce, HK.

Posted July 21st, 2022 by Melvin Dickinson & filed under News, Press Release.

Registration Opens for BDA’s Fourth Annual Bermuda Tech Summit

Hamilton, Bermuda, July 21, 2022 — The Bermuda Business Development Agency (BDA) is pleased to announce registration is open for our fourth annual Bermuda Tech Summit, being held at the Hamilton Princess & Beach Club from October 26-28, as part of ‘Bermuda Tech Week’.

Set against the stunning backdrop of Hamilton Harbour, delegates will hear senior policymakers, FinTech-leaders, and international regulators provide thought-provoking content over three, half days, with afternoons left free for networking and local excursions, including the PGA Tour’s Butterfield Bermuda Championship.

BDA CEO, David Hart said, “The theme of this year’s Tech Summit is ‘Resilience and Innovation,’ two key strands of Bermuda’s DNA. After two years of holding this event virtually, we are so excited to welcome delegates back to Bermuda’s dynamic and growing tech ecosystem. You will not want to miss being a part of these important in-person conversations, including how Bermuda’s world-leading risk management culture and enterprising spirit can help chart a future course forward for FinTech. From crypto lending and digital banks, to ESG, we are sure to have something on our agenda that will interest you.”

Click here before 31 August to take advantage of our early bird registration rate of $295, along with limited preferred room rates at The Hamilton Princess Hotel & Beach Club, starting at $399 which will be honoured for three days pre- and post-event. Click here for more details.

Exciting sponsorship opportunities are now available! For more information, email bermudatechweek@bda.bm or call 1-441-292-0632.

The BDA’s Bermuda Tech Summit is the centrepiece event of ‘Bermuda Tech Week’ being held in partnership with the Bermuda Government’s Economic Development Department, from October 24-28. Stay tuned for further updates!

Posted July 20th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Participates in 60^th Annual Florida Insurance Council (FIC) Summer Symposium

BDA Chair and CEO to Celebrate, Reinforce Longstanding Partnership Between Florida and Bermuda, the World’s Risk Capital

Hamilton, Bermuda, July 20, 2022 — The Bermuda Business Development Agency (BDA) is proud to support the 60^th annual Florida Insurance Council (FIC) Summer Symposium on July 26-28, in Orlando, Florida.

The FIC programme will include state legislators, the Office of Insurance Regulation and other industry speakers including BDA Chair, Stephen Weinstein and BDA CEO, David Hart.

Mr. Weinstein said, “Since Hurricane Andrew, Bermuda’s (re)insurance market has been the preeminent partner to Florida insurers, supporting the market with capital, risk expertise, and an ethos of collaboration. Today, Bermuda (re)insurers provide over 60% of the hurricane reinsurance in Florida, support efforts to reform and strengthen Florida’s insurance market, and invest in and share cutting edge science to boost hurricane resilience and promote mitigation. Over 30 years, the Bermuda and Florida markets have tackled many challenges together and shared many successes. We look forward to seeing so many business, legislative, and regulatory leaders in person over the course of FIC’s outstanding programme, and exploring the next cycle of growth in our partnership.”

Mr. Hart said, “As a sixth generation Floridian, I have seen first-hand the benefits that Bermuda’s (re)insurance market offers Florida’s economy, and I am proud to represent Bermuda and the BDA at the FIC’s Summer Symposium. As we enter peak hurricane season, our Chair and I will highlight Bermuda’s continued value proposition as the world’s risk capital to the largest gathering of Florida’s domestic insurers. We thank FIC President, Cecil Pearce, for the speaking invitation and look forward to a large gathering of Florida-based companies and executives visiting us for our second annual Bermuda Risk Summit being held at the Hamilton Princess & Beach Club on March 6-8, 2023.”

Click here for more information on the FIC Summer Symposium – and stay tuned for further updates about the BDA’s second annual Bermuda Risk Summit.

Posted July 12th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA’s Latest Bermuda Angle Webinar Highlights Bermuda’s ESG Maturity

Hamilton, Bermuda, July 12, 2022 — The Bermuda Business Development Agency (BDA), in association with Oxbow Partners, will air a webinar about Bermuda’s ESG maturity on 19 July at 12pm ADT.

This latest edition of the Bermuda Angle webinar series – entitled ‘Bermuda’s ESG Experience and its Influence on the Global (Re)insurance Industry’ – will include an introduction from Bermuda’s Deputy Premier, the Hon. Walter Roban, JP, MP.

Helen Cart, Business Development Manager, BDA, said, “We are extremely fortunate that Bermuda’s Deputy Premier will open the webinar with important insights about Bermuda’s climate change mitigation strategies. Following the Deputy Premier’s remarks, Miqdaad Versi, Head of ESG, Oxbow Partners, UK, will moderate a panel of ESG experts, including Harriet James, ESG Strategy, RenaissanceRe, Andrew MacFarlane, Head of Climate, AXA XL and Shannon Sun, Head of Corporate Development and Chair of Innovation Committee, AIG Re. Key topics that the panelists will discuss include talk vs. meaningful action; potential barriers, including readily available ESG data/metrics; and how Bermuda’s history of innovation, could manifest itself into new climate risk finance products or sectors.”

Mr. Versi, who will also provide high-level findings of an ‘ESG in Bermuda – The Rising Tide’ Report. This report, which was launched at the BDA’s inaugural Bermuda Climate Summit from May 23-24, includes interviews with 21 (re)insurers and ILS funds and other industry leaders.

Please click here to register for the BDA’s latest ESG webinar, held in partnership with Oxbow Partners, or click here to download a copy of the ‘ESG in Bermuda’ Report.

Posted July 11th, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA Supports Return of Three High-Net-Worth Services Events to Bermuda

Hamilton, Bermuda, July 11, 2022 — The Bermuda Business Development Agency (BDA) has played an important role in the return of three major in-person high-net-worth services events to Bermuda, the first since 2019.

First, the BDA co-sponsored the ‘Private Client Exchange Bermuda 2022’ event June 28-29. This sold-out event brought about 50 of the world’s top lawyers to the St Regis Bermuda Resort. Next, from June 29 – July 1, the BDA was proud to be an associate sponsor of the ‘Transcontinental Trust: Bermuda 2022’ event that brought 200 delegates to Hamilton Princess & Beach Club. Finally, the BDA sponsored the Institution of Private Investors’ (IPI) three-day Campden Wealth summer forum, attracting about 70 delegates to the St Regis from July 10-12.

David Hart, BDA CEO, said “These events not only brought global trust and legal leaders to the Island to David Hart, BDA CEO, said “These events not only brought global trust and legal leaders to the Island to discuss important hot topics and best practices but the immediate economic impact of the first two, including lodging, transportation, food and beverage, retail and recreation, was estimated at over half million dollars, and supported around 240 jobs. The BDA looks forward to continuing our relationship with the Private Client Exchange and is excited to participate in the International Private Client Forum being held in Italy this November. The BDA also has a longstanding relationship with Transcontinental Trust, having been involved since the first event held in Bermuda in 2015. We were also proud to be able to maintain this relationship when the event was being conducted virtually in 2020 and 2021.”

BDA board member Susan Pateras, and Bermuda’s Minister of Economy & Labour, the Hon. Jason Hayward, JP, MP, welcomed delegates on the opening morning of the Transcontinental Trust Forum.

The Minister said, “On behalf of the Government, I was pleased to welcome overseas delegates to Bermuda, the Gem of the Atlantic. Given the high-net-worth focus of the event I was also pleased to provide delegates with an update on the Government’s Economic Investment Certificate (EIC) initiative. The EIC allows individuals who invest at least $2.5 million in qualifying investments on the island the right to reside in Bermuda along with a path to long-term residency after a period of five years. Since the EIC came into effect on March 1, 2021, 19 EIC applications have been approved, representing investments of over $325 million into the local economy.”

Bermuda’s Premier, The Hon. David Burt, JP, MP, welcomed IPI delegates to Bermuda today, 11 July, while Mr. Hart and Collin Anderson, Permanent Secretary, Ministry of Economy & Labour will highlight Bermuda’s EIC initiative tomorrow, 12 July.

Since supporting the high-net-worth services sector is one of the BDA’s key strategic priorities, in addition to providing financial support to in-person events, the BDA assists this well-established sector in a myriad of other ways throughout the year. For example, since 2021, the BDA has hosted over a dozen webinars for the Bermuda branch of the Society of Trust and Estate Practitioners (STEP) and the Bermuda Association of Licensed Trustees (BALT) and organises monthly trust and private client advisory group meetings.

If you would like to learn more about Bermuda’s high-net-worth services sector, contact Korrin Lightbourne, Senior Business Development Coordinator at info@bda.bm or +1 441 292 0632.

Posted June 13th, 2022 by Melvin Dickinson & filed under News, Press Release.

Premier and BDA to Promote Bermuda During Mission to London

Hamilton, Bermuda, June 13, 2022 — The Bermuda Business Development Agency (BDA) will continue to promote Bermuda’s strengths at its latest overseas mission to London next week.

Across four days, from June 12 – 16, the BDA delegation will engage with leading global capital allocators, law firms, wealth managers and tech incubators, specifically to discuss Bermuda’s aspirations to develop and grow new FinTech and climate risk finance economic pillars.

Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP, who is leading the delegation said, “The timing of this London trip could not be better as it builds on recent FinTech announcements by Nayms, Jewel, Miami International Holdings/Bermuda Stock Exchange and NEXT, as well as the BDA’s extremely successful Bermuda Climate Summit on May 24. Momentum is certainly building in Bermuda’s FinTech and climate risk sectors. It will be a pleasure to inform London-based financial services businesses, and decision makers, about our recent successes in this regard.”

BDA CEO, David Hart said, “Building on the BDA’s Executive Forum in NY, and travels to the Consensus event in Austin, Texas, the purpose of the London mission to share Bermuda’s story, particularly our blue-chip regulatory environment, and how we are a world-leading jurisdiction for (re)insurance, asset management, high net worth services, technology, and infrastructure. Personally, I am looking forward to addressing the Bermuda Society’s annual meeting and luncheon where I will remind prominent members in attendance that Bermuda remains the world’s best place in the world to develop innovative tech-based financial services solutions.”

Completing the London delegation is John Huff, President & CEO, Association of Bermuda Insurers and Reinsurers (ABIR); and BDA Chair, Stephen Weinstein.

“Future BDA delegations are already being planned, including Toronto in September and Singapore in October,” Mr. Hart said. “We also encourage prospective Bermuda market entrants and FinTech innovators to mark October 26-28 on their calendars to attend the BDA’s fourth annual Bermuda Tech Summit being held at the Hamilton Princess & Beach Club as part of ‘Bermuda Tech Week’ from October 24-28.”

Posted June 10th, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda Launches First Digital Asset Industry Association of Fully Licensed and Regulated Companies at Consensus 2022

“NEXT” reflects Bermuda’s momentum in attracting institutional-grade digital asset companies seeking a credible regulatory jurisdiction to operate globally

Hamilton, Bermuda, June 10, 2022 — Bermuda’s Premier, the Honorable David Burt, JP, MP, announced during his keynote address yesterday at Consensus, that 14 leading digital asset companies licensed by the Bermuda Monetary Authority (BMA) have created the first-of-its-kind collective industry voice of fully regulated companies called NEXT, to help strengthen Bermuda’s impressive regulatory moat. NEXT founding members include Apex Group, Bittrex Global, Blockfi, Blockchain Triangle, Blockwrk, Circle, CrossTower, Ensuro Re, Jewel Bank, NAYMS, Relm Insurance, Stablehouse, XBTO and 24 Exchange.

Image shows logos of 14 companies (Apex; Bittrex Global; BlcokFi; BlockWrk; Blockchain Triangle; Circle; CrossTower; Ensuro; Jewel; Nayms; RELM; Stablehouse; XBTO; 24 Exchange) on Bermuda Harbour backdrop.

NEXT’s mission is to support initiatives to enhance Bermuda’s sustainable digital asset ecosystem and to promote Bermuda as an innovative and accessible jurisdiction with institutional grade legislation.

NEXT’s four core priorities:

Industry advocacy: act as a collective voice for Bermuda’s digital asset industry to the BMA, the Bermuda government, and Bermudian residents
Ecosystem growth and stability: build international relationships to help network Bermuda companies into global conversations and opportunities
Reputation building: proactively market Bermuda as an innovative and accessible ecosystem to decision makers and influencers in major markets
Talent development: provide opportunities and grow the Bermuda talent pool, while helping to attract the world’s best resources

“The formation of Bermuda’s first trade association for licensed digital asset businesses is a significant milestone in the development of Bermuda’s fintech industry,” said Premier Burt. “It supports Bermuda’s proven recipe for success of ensuring close collaboration between the industry, regulator and legislators to allow Bermuda to adapt quickly to and stay ahead of the needs of the industry.”

“The companies who have chosen to get licensed in Bermuda are attracted by the enhanced credibility of being regulated by the BMA,” said Stafford Lowe, Co-Founder of NEXT. “As they develop new products and grow their global businesses, they require a proven jurisdiction that their clients and counterparties can trust.”

Digital asset fintech companies have been flocking to Bermuda to take advantage of the regulatory framework known technically as DABA (Digital Asset Business Act 2018). DABA builds on Bermuda’s decades-long reputation as a progressive, yet reputable legislation that gave birth to the reinsurance market 50 years ago.

David Hart, CEO of the Bermuda Business Development Agency (BDA) said, “NEXT is a welcome addition to the pantheon of industry associations who have helped grow and shape Bermuda’s financial services landscape. As digital asset businesses begin to converge with mainstream financial markets, we look forward to seeing Bermuda’s burgeoning tech sector grow from strength to strength. The BDA looks forward to supporting the ongoing evolution of financial services – there isn’t any place better for this evolution to occur than Bermuda.”

“We are excited by the diverse ecosystem forming in Bermuda, “says John Narraway, Co-Founder of NEXT. “NEXT members span exchanges, custodians, digital asset managers, digital fund services companies, insurtechs, financial product innovators and even a licensed digital asset bank. With the ongoing ‘flight to quality’, Bermuda has clearly become the premier domicile for the wide spectrum of innovative companies building the future of finance and insurance.”

NEXT Co-Founder committee also includes Tim Reed, Chief Marketing Partner at Your Partners, a Bermuda-based Fintech Advisory company and Denis Pitcher, Chief FinTech Advisor to the Premier of Bermuda.

About NEXT:

NEXT is an autonomous industry advocacy group for Bermuda-based digital asset companies licensed by the Bermuda Monetary Authority providing a collective voice and opportunities for collaboration within Bermuda and globally. Our mission is to support initiatives to enhance Bermuda’s sustainable digital asset ecosystem and to promote Bermuda as an innovative and accessible jurisdiction with institutional grade legislation. We support a differentiated ecosystem of digitally native companies – banks, exchanges, custodians, investment managers, fund services companies, insurers & insurtech players, and innovative financial services providers. Our membership is actively engaged in expanding their international operations in a well-regulated ecosystem that brings an appropriate balance of innovation and risk management. More at www.next.bm

For more information about NEXT please contact Tim Reed, Chief Marketing Partner, Your Partners, LTD, tim@y.partners

Posted May 25th, 2022 by Melvin Dickinson & filed under News, Press Release.

Bermuda Climate Summit Presented by BDA Attracts Global Thought Leaders

Discussions Include Collaborative Solutions to Climate Change

Hamilton, Bermuda, May 25, 2022 — The Bermuda Business Development Agency (BDA) led a two-day event that drew some 150 attendees, including 70 from around the world, to discuss myriad wide-ranging climate issues, including the science of climate change, the regulatory needs of green investors, and Bermuda’s leadership role in this new era.

The widely attended event began with a welcome reception and dinner on the evening of May 23, followed the next morning by an engaging keynote discussion between the Hon. Walter Roban, JP, MP, Deputy Premier of Bermuda, and Jim Nadler, President and CEO of KBRA. Their dialogue, titled “Why Bermuda Is Positioned as the World’s Climate Risk Capital,” covered Bermuda’s climate efforts, potential benefits created by innovative renewable technologies, and what a new climate finance economic pillar for Bermuda might look like.

BDA CEO David Hart said, “Given the changes we’re seeing in the world, now is the perfect time to discuss climate change and how we can address it from a risk finance and resiliency perspective. Bermuda intends to play a critical role in this effort, and we were thrilled at the strong participation in the inaugural Bermuda Climate Summit, presented by the BDA. It proves that leaders from around the globe are ready to tackle these important issues and examine collaborating with Bermuda for innovative solutions in the expanding role of climate change financial leadership.”

Other highlights included a discussion entitled “Building Resiliency in the Face of Climate Change,” moderated by John Huff, President & CEO of the Association of Bermuda Insurers and Reinsurers (ABIR). This session examined how senior policy makers and the (re)insurance industry can collaborate to support sustainability and resiliency efforts. Esteemed panelists included: Dr. Bronwyn Claire, ClimateWise Lead, University of Cambridge Institute for Sustainability Leadership; Abhisheik Dhawan, Sustainable Finance & Partnership Specialist/Corporate Lead on Climate Change, United Nations Capital Developments Fund; Ekhosuehi Iyahen, Secretary General, Insurance Development Forum; Samantha Medlock, Senior Counsel, Select Committee on the Climate Crisis, U.S. House of Representatives; and Steven E Seitz, Director, Federal Insurance Office U.S. Department of the Treasury. This high-profile group discussed the role (re)insurance plays in the global transition to a lower-carbon economy and why Bermuda stands at the forefront of building resilience and helping to mitigate the effects of climate change.

BDA Chair Stephen Weinstein and Collin O’Mara, the President and CEO of the National Wildlife Federation had a lunchtime conservation conversation; Arizona State University (ASU) President Michael Crow gave a passionate call to action and spoke about ASU’s partnership with the Bermuda Institute of Ocean Sciences (BIOS), while Miqdaad Versi, Head of ESG, Oxbow Partners unveiled a BDA/Oxbow ESG Benchmarking Survey.

The gathering closed with a series of resilience roundtables hosted by KBRA Senior Advisor Mark Baker. Michelle Bachir, Senior Manager, Sustainability & KPI Services, Deloitte moderated a discussion about financial solutions; Dr. Yvonne Sawall, Assistant Scientist, BIOS guided the physical solutions conversation; Arnaud van Dijk, Deputy Head, KPMG IMPACT, KPMG Islands Group discussed Climate Reporting and Disclosure; and Simon Young, Co-Head, Disaster Risk Finance/Parametrics, Climate and Resilience Hub, Willis Towers Watson (WTW) considered policy solutions.

The BDA thanks our sponsors for their generous support, including:

Leading sponsors: ABIR and KBRA
Platinum sponsor: Conduit Re
Gold sponsor: Belco
Silver sponsor: Aspen
Lanyard sponsor: AXA
Beverage station sponsor: Deloitte
Bronze sponsors: HSBC and Nephila
Supporting sponsors: Butterfield, Elbow Beach Capital, Hub Culture, KPMG, WTW
Media partner: Bermuda Re + ILS

Click here to learn more about the BDA, and click here to view the Climate Summit’s official agenda.

Posted May 25th, 2022 by Melvin Dickinson & filed under News, Press Release.

Our World Too Announces Sustainability Partnership in Bermuda

Pilot Program to Kick Off Corporation Rollout

HAMILTON, Bermuda–May 24, 2022–This week as the first Bermuda Climate Summit, presented by the Bermuda Business Development Agency (BDA) is underway, Our World Too (OWT) announced that its first country pilot program will begin in Bermuda.

At the BDA event held in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and KBRA, it is expected leaders of the headquarters and the Bermuda groups will make the announcement at this week’s summit, effectively entering into the business and sustainability movement at the global level.

Operating as a public benefit corporation (PBC), OWT will use marketing, communications, sales and enrollment techniques to support people and a changing planet for future generations.

OW2 Bermuda is the first licensed partner of OWT, and into the next year the groups will collaborate on partnering with public and private sectors in Bermuda; education and nongovernmental groups, and many more organizations, in order to connect sustainable incentives to programs to people within the country.

“Our World Too and OW2 Bermuda are the first efforts underway for our global action brand in the area of engagement and this represents an important milestone for us and for global change,” said OW2 Founder and Chair Dave McGuigan.

“The people of Bermuda are as passionate and dedicated to sustainability as we are,” he added, “and in considering population, attitudes, connections in business and the environment in Bermuda, we felt this was the best region to launch our efforts.”

The OW2 Bermuda Task Force will spearhead all major efforts on the Island and be led by Phil Butterfield and Dr. Michelle St Jane.

“We are proud to be a part of the inaugural Bermuda Climate Summit and formally announce OW2 Bermuda to the world at this time,” said St Jane. “We will be calling our program the ‘Our World Too Pilot Launch Initiative in Bermuda.’”

“We seek to assist the people of Bermuda in building a new future, the likes of which have not been seen before,” she said. “The Our World Too team here will play a global leadership role in the sustainability movement using a new algorithm. As we determine and move past goalposts for success, we then hope to export our model to other regions in the world.”

CEO David Hart of BDA said groups and the government in Bermuda are excited to see the formation of OW2 Bermuda and support the group in inspiring, empowering and motivating individuals to take meaningful actions as guardians of the future.

“The BDA congratulates Our World Too on their formation of OW2 Bermuda and choice of Bermuda as a strategic launching pad to the global community. We applaud and support their efforts to inspire, empower and motivate individuals to take meaningful actions in building a sustainable environment for future generations,” said Hart.

“Through initiatives like OW2 and the BDA’s 2022 Bermuda Climate Summit, Bermuda will continue to punch above its weight and play a key leadership role in the worldwide climate risk and resiliency movement for years to come.”

For more information about Our World Too, PBC, please contact Dave McGuigan dmcguigan@ourworldtoo.com and WhatsApp (U.S.): +1 (858) 699-6727.

For more information about OW2 Bermuda, please contact Dr. Michelle St Jane at mstjane@ourworldtoo.com and WhatsApp (Int’l): +1 (441) 505-6785.

For more information about the Bermuda BDA, please contact Jamari Douglas at jdouglas@bda.bm

Other OW2 Bermuda task force members include Krista Barnes, Charles Brown, Jamari Douglas, Venetia Furbert, Anna Pereira, Tammy Richardson and Patrick Tannock.

Posted May 17th, 2022 by Melvin Dickinson & filed under News, Press Release.

Premier and BDA Congratulate Nayms for Becoming World’s First Crypto-Native Insurance Marketplace

Hamilton, Bermuda, May 17, 2022 — The Bermuda Business Development Agency (BDA) congratulates Nayms for graduating from the Bermuda Monetary Authority’s (BMA) regulatory sandbox, to become the world’s first, fully regulated crypto-native insurance marketplace.

Nayms bridges legacy insurance with blockchains enabling investors, brokers, insurers, and insureds to conduct their affairs in cryptocurrency, from capital to premiums to claims. In this way, participants mitigate exchange risk by matching assets with liabilities whilst accessing alternative capital for the most efficient risk transfer.

Bermuda’s Premier, the Hon. David Burt, JP, MP said, “We are thrilled to see the announcement that Nayms has graduated from the BMA’s sandbox in not one, but two licence classes. Their Class F (Full) Digital Asset Business licence, and an Innovative Insurer General Business (IIGB) licence will allow Nayms to continue to expand their presence on Island, and demonstrate Bermuda’s capacity to serve as the jurisdiction of choice for innovative digital asset businesses. We wish Nayms success in this next chapter as the world’s first crypto-compatible insurance marketplace.”

Dan Roberts, CEO of Nayms, said, “From the beginning of our journey we have taken a pro-regulatory approach, with our challenge being how do we integrate existing legal and regulatory processes into blockchain technology in a way that augments the utility of this innovation for our users. With vital support from the BDA, today we celebrate the successful consummation of this process and greatly look forward to the next phase of our mission.”

David Hart, CEO of the Bermuda Business Development Agency (BDA), “On behalf of the BDA, it is my pleasure to be among the first to congratulate Nayms. We have enjoyed working with their team and are excited to officially welcome them to Bermuda’s dynamic and growing technology sector. If you are considering following in Nayms’ footsteps and want to set up your quality, tech-enabled business in Bermuda, please contact the BDA’s comprehensive business concierge service at info@bda.bm so we can connect you to everyone you need to help turn your ideas into reality.”

Click here to learn more about the BDA.

Posted May 13th, 2022 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, May 13, 2022 — The Bermuda Business Development Agency (BDA) concluded the New York City executive forum on May 11 – Bermuda’s first since 2019.

Bermuda’s Minister of Economy and Labour, The Hon. Jason Hayward, JP, MP; BDA Chair, Stephen Weinstein; and BDA CEO, David Hart attended on behalf of Bermuda along with numerous private sector leaders from Bermuda and the CEO of the Bermuda Monetary Authority, Craig Swan. Representatives from a diverse group of industry bodies also gave a strong show of support at the event including: Association of Bermuda Insurers and Reinsurers (ABIR); Association of Bermuda International Companies (ABIC); Bermuda International Long-Term Insurers and Reinsurers (BILTIR); Alternative Investment Management Association (AIMA) Bermuda; the Bermuda Bankers Association; and NEXT Bermuda.

Minister Hayward said, “It is imperative for Bermuda’s continued growth that the government of Bermuda and its partners communicate Bermuda’s value proposition to international stakeholders. Bermuda is the premier jurisdiction to foster innovative international business ideas from inception to market. This forum continued the efforts of the BDA’s climate risk roadshows in NYC in late 2021 to strengthen relationships with leading global capital allocators and familiarise industry leaders with Bermuda’s unique advantages.”

David Hart said, “Across three days we were able to engage in numerous business development meetings with potential New York City prospects. The Bermuda delegation also met with several influential global media outlets, including Bloomberg, The Financial Times; The Wall Street Journal; and Business Insurance. The BDA will continue to travel overseas to tell the Bermuda story in important markets to promote and protect sustainable and equitable economic growth, greater diversification and prosperity in Bermuda.”

Over 200 friends of Bermuda and potential partners gathered at Convene, One Liberty Plaza, located in the heart of New York City’s financial district.

The forum began with a series of thought leadership breakout sessions focusing on technology, high net worth services and asset management, including a blue-chip breakout session called ‘Climate and Natural Disaster Resiliency’. The climate moderator was Stephen Weinstein, and panelists included: Benoit Allehaut, Managing Director, KKR Infrastructure (Energy Transition); Abhisheik Dhawan, Sustainable Finance & Partnership Specialist/Corporate Lead of Climate Change, United Nations Capital Developments Fund (UNCDF); Peter Giacone, Senior Managing Director, KBRA; and Arianne West, Co-Founder, COO and Head of Structured Finance, Re2 Capital.

The afternoon’s first panel entitled, “Why Bermuda? Cross-Sector Solutions,” was moderated by Suzanne Williams-Charles, Director of Policy and Regulation, Corporate Secretary and Data Privacy Officer at ABIR. Panelists included Patrick Tannock, Chair, ABIC; Elizabeth Denman, Deputy Chair, AIMA Bermuda; Stafford Lowe, Director, NEXT Bermuda; Amy Ponnampalam, Member, BILTIR; and Michael Neff, Chair, Bermuda Bankers Association.

The final panel focused on innovation in Bermuda and was moderated by Lauren Berry, Managing Editor, Deputy NYC bureau chief, Bloomberg News. Panelists included Stephen Weinstein; Fiona Beck, BDA board member; Brian Dusek, Head of Americas, Cyber, Mosaic; Joe Ziolkowski, CEO and co-founder, Relm; and James Robinson, co-founder and CTO, Cactus.

The BDA thanks Bittrex Global and Goslings Rum for their sponsorship and continuous support.

The BDA will follow up its NYC event with an at-capacity Bermuda Climate Summit on May 23-24. Click hereto learn more about the BDA.

Posted May 10th, 2022 by Melvin Dickinson & filed under News, Press Release.

Hamilton, Bermuda, May 10, 2022 — A limited number of spaces are still available for the Bermuda Business Development Agency’s (BDA) New York City executive forum being held tomorrow at One Liberty Plaza.

The BDA’s activities at Convene, located in the heart of downtown’s financial district, will begin with a blue-chip breakout session entitled ‘Climate and Natural Disaster Resiliency’ from 10 am to 11.30 am. The moderator will be Stephen Weinstein, Chair, BDA and panellists include: Benoit Allehaut, Managing Director, KKR Infrastructure (Energy Transition); Abhisheik Dhawan, Sustainable Finance & Partnership Specialist/Corporate Lead of Climate Change, United Nations Capital Developments Fund (UNCDF); Peter Giacone, Senior Managing Director, KBRA; and Arianne West, Co-Founder, COO and Head of Structured Finance, Re2 Capital.

David Hart, BDA CEO said, ““This panel will bring together leading experts from the global investment community to discuss issues including climate related megatrends, strategies to promote the blue economy, cleantech investment, and the role that Bermuda can play as both a global financial services capital and climate-impacted island community. Due to the anticipated significance of what will be discussed, we have been able to make a limited number of additional seats available on a first come, first served basis. To encourage greater dialogue Chatham House Rules will apply.”

Click here to register for the morning’s climate and natural disaster breakout session.

In addition, very limited spaces are available for two back-to-back technology sessions covering the entire lifecycle of a new Bermudian digital asset business from 10am to 12 pm. Click here to register for the tech morning breakout sessions.

Forum proceedings continue in the afternoon, beginning with a keynote fireside chat between Bermuda’s Minister of Economy and Labour, The Hon. Jason Hayward, JP, MP, and David Hart.

The afternoon’s first thought leadership panel is entitled, “Why Bermuda? Cross-Sector Solutions” and will be moderated by Suzanne Williams-Charles, Director of Policy and Regulation, Corporate Secretary and Data Privacy Officer at Association of Bermuda Insurers and Reinsurers (ABIR). Panellists include Patrick Tannock, Chair, Association of Bermuda International Companies (ABIC); Elizabeth Denman, Deputy Chair, Alternative Investment Management Association (AIMA); Stafford Lowe, Director, Next Bermuda; Amy Ponnampalam, Member, Bermuda International Long-Term Insurers and Reinsurers (BILTIR), and Michael Neff, Chair, Bermuda Bankers Association.

The second afternoon panel focusses on innovation in Bermuda and will be moderated by Lauren Berry, Managing Editor, Deputy NYC bureau chief, Bloomberg News. Panellists include Stephen Weinstein; Fiona Beck, BDA board member; Brian Dusek, Head of Americas, Cyber, Mosaic; James Robinson, Co-Founder and CTA, Cactus and Joe Ziolkowski, CEO and co-founder, Relm.

After hearing keynote speakers and thought leadership panels, attendees will make new connections over signature cocktails courtesy of Goslings Rum at our c-suite Bermuda networking reception.

Click here to confirm your attendance. One lucky attendee will win a weekend getaway for two to Bermuda, staying at the five-star luxury resort, The Loren at Pink Beach.

The BDA is grateful for generous support from Bittrex Global, which enables us to put together such an important event in New York City.

Posted May 3rd, 2022 by Melvin Dickinson & filed under News, Press Release.

BDA to Welcome Global Climate Leaders to Bermuda for Climate Summit in May

Hamilton, Bermuda, May 3, 2022 — The Bermuda Business Development Agency (BDA), in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR) and KBRA, is pleased to welcome climate thought leaders from around the world to Bermuda for an invite-only Bermuda Climate Summit May 23-24. The event is already at capacity, but parties interested in being added to the waitlist can email bermudaclimate@bda.bm.

The inaugural Bermuda Climate Summit will consist of an opening welcome dinner on May 23, followed by a full day of discussions on May 24, including a keynote lunch, informative panel presentations, roundtables, solutions showcase, networking opportunities, and a cocktail reception.

David Hart, BDA CEO said, “As the world’s risk capital, Bermuda is in a prime position to leverage its strengths in (re)insurance, Insurance-Linked Securities (ILS), and professional services to become the preeminent leader in climate risk finance and combat the greatest challenge of our time – climate change. Bermuda is already home to many of the world’s leading experts on weather-related catastrophes and has been working in the property catastrophe reinsurance market for decades. We are honoured to welcome global leaders to Bermuda for this extraordinary event to network, share ideas, and discuss vital solutions to the global climate crisis.”

The Hon. Walter Roban, JP, MP, Deputy Premier of Bermuda and Jim Nadler, President & CEO, KBRA will kick off proceedings by discussing Bermuda’s work in climate risk finance and how an increase in this type of financing can help mitigate against the worst effects of climate change, the benefits that innovative new technologies bring, and what a new climate finance economic pillar for Bermuda might look like.

Then John Huff, ABIR President & CEO, will moderate a panel on building resiliency in the face of climate change. Panelists include Bronwyn Claire, Senior Programme Manager, ClimateWise, Cambridge Institute for Sustainability Leadership (CISL), University of Cambridge; Ekhosuehi Iyahen, Secretary General, Insurance Development Forum; Abhisheik Dhawan, Sustainable Finance & Partnership Specialist/Corporate Lead on Climate Change, United Nations Capital Developments Fund (UNCDF); and Steven E Seitz, Director, Federal Insurance Office US Department of the Treasury.

Additional sessions will feature discussions about applied technology innovations to discuss the scale and nature of our current and anticipated climate challenges, an executive-level discussion on the growing importance of ESG and its intersection with (re)insurance and investing, and how the development of specialty financing products within the (re)insurance industry can help address climate change amid increasing consumer and regulatory pressure for climate risk management.

Guests will stay at the exclusive Rosewood Bermuda located on the shimmering waters of Bermuda’s Castle Harbour. They and their families can stay for the Bermuda Day holiday weekend to enjoy the luxury facilities and Bermuda’s many amenities including walking nature tours, twizzy tours, golf, deep-sea fishing, cave adventures, a VIP Bermuda Institute of Ocean Sciences (BIOS) tour, or a Nonsuch Island expedition. Click here to visit the BDA website for special rates and hotel information, including at the Hamilton Princess & Beach Club, conveniently located near the city of Hamilton.

The BDA thanks sponsors of Bermuda Climate Summit for their commitment to Bermuda.

Click here to learn more about the BDA.