16 June 2022Reinsurance

Burt chairs London & Bermuda re/insurance roundtable

Leaders from the Bermuda and Lloyd’s re/insurance markets have taken part in a roundtable discussion in London with Bermuda’s Premier and Minister of Finance, David Burt.

Premier Burt was visiting the UK for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services industry.

The Association of Bermuda Insurers and Insurers (ABIR) organised the event, which is on the schedule for a Bermuda Business Development Agency delegation, led by the Premier.

The roundtable focused on the strong working relationship between two of the world’s leading re/insurance hubs. ABIR member companies supply substantial capacity for Lloyd’s of London Syndicates and many Bermuda-based global re/insurers have a presence in the Lloyd’s market. More than 8,000 people are employed in the UK by ABIR members.

Premier Burt said: “Bermuda’s international re/insurance industry is a substantial contributor to our domestic economy and a shining example of Bermuda’s value to the world as a leading provider of risk solutions.

“The Bermuda market’s long-established working relationship with Lloyd’s speaks to the island’s international relevance and I look forward to engaging with industry leaders as we work toward a continuation of this productive partnership.”

Premier Burt’s delegation included: Cheryl-Ann Lister, acting financial secretary; Sir Andrew Large, chair, Bermuda financial policy council; Kimberley Durrant, UK representative for the Government of Bermuda; Brandon Sousa, Bermuda Government London office; and Jordan Scott-Furtado, assistant to the Premier.

The Lloyd’s of London leadership was represented at the roundtable by chairman Bruce Carnegie-Brown and chief executive John Neal.

Industry executives attending the meeting included: Stephen Catlin, founder and chief executive of Convex and past chair of ABIR; Hugh Sturgess, chief executive of Arch Insurance International; Kathleen Reardon, chief executive of Hiscox Re; Hugh Brennan, chief executive of RenRe Syndicate Management; Adrean Daws, chief executive of Hamilton International; Mitch Blaser, co-chief executive of Mosaic Insurance; Christian Dunleavy, group chief underwriting officer of Aspen; Mark Cloutier, chairman and chief executive of Aspen; Olly Reeves, group chief risk officer of Mosaic Insurance; and John Huff, president and chief executive of ABIR.

Huff said: “We are pleased to welcome Premier Burt, John Neal and Bruce Carnegie-Brown to the table for talks with ABIR member company executives as we look to further strengthen one of Bermuda’s most significant trading relationships.

“Consumers around the world benefit from the synergies between Bermuda leading insurers and reinsurers and the Lloyd’s of London market. This relevance of our mutually beneficial working relationship has never been greater, as we strive to find solutions to the world’s largest and most complex risks, such as climate, cyber and closing the protection gap.”