21 May 2014Bermuda analysis

Business legend to deliver highly anticipated speech at BCC

Bermuda icon and internationally esteemed businessman, Brian Duperreault, will deliver a market industry speech at this year’s Bermuda Captive Conference.

The speech, entitled “Where Are the Women?” addressing the status of women in executive positions within the insurance and reinsurance sector, will be delivered to more than 630 risk management professionals at the 10th annual BCC, to be held at The Fairmont Southampton Resort from Sunday 1st of June through to Wednesday the 4th of June.

Duperreault’s speech is long awaited and conference organisers have already received many requests from the wider business community wishing to join the session.

To accommodate market demand, organisers have issued passes for admission to the session only for $25. Monies raised from the session will be donated towards a student scholarship from the Bermuda Foundation of Insurance Studies (BFIS).

Long admired as a successful businessman, Duperreault is also recognised for his philanthropic endeavours and advocacy of charitable causes. He started his career with AIG in 1978 and, prior to joining Marsh, served as non-executive chairman of re/insurer ACE, as CEO from 1994 through 2004, and as president from ‘94 through ‘99.

His last position was with Marsh & McLennan Companies where he served as CEO until December 2012. One year later, in December 2013, Duperreault returned to the risk management industry as CEO of Hamilton Insurance Group.

Other notable BCC participants are Carolyn Snow, president of the RIMS, who will address this year's attendees as a panelist in a roundtable discussion on the implications and opportunities for captives as a result of US Healthcare reform. Minister of finance, The Hon. Everard Bob Richards, JP, MP, and Mr. Shelby Weldon, licensing & authorisations director for the BMA will also join the panel discussions.

The BCC is considered to be a valuable opportunity for captive owners, managers and industry specialists to network and participate in educational forums focusing on hot topics and the future of the captive industry. 15 of the top 40 global reinsurers are based in Bermuda which allows captive owners and operators to access open market underwriting capacity, not found in any other captive domicile, making Bermuda a one-stop-shop.

This year, the June 4th morning sessions will be dedicated to the Bermuda commercial market with  support from ACE, Allied World, XL, Catlin, Hiscox and Third Point Re.  The first session will cover the relevance of Bermuda in today’s world and its ability to provide comprehensive insurance coverage for all enterprise risk management needs.  The second session will focus on reinsurance and the changing dynamics of the Bermuda reinsurance market, specifically the impact of ILS and hedge funds on the traditional reinsurance marketplace.

“Each year the conference has grown in attendance and notoriety amongst risk management professionals.  The BCC Committee has developed the event over the past ten years to become a venue for thought leadership and innovation in the captive industry.  Our excellent speakers, panelists and attending executives help to create an environment at the BCC that is truly unique.  Many professionals return each year to benefit from the learning and insight,” says Tom McMahon, chairman of the BCC.

Industry professionals interested in attending the Bermuda Captive Conference are encouraged to visit the BCC website: www.bermudacaptive.bm.