Premier joins ABIR member company executives and Lloyd’s leaders in London roundtable event

Talks focus on building upon mutually beneficial Bermuda-Lloyd’s relationship

Hamilton, Bermuda (June 16, 2022) — Leaders from the Bermuda and Lloyd’s re/insurance markets joined Bermuda’s Premier and Minister of Finance, the Hon. David Burt, JP, MP, in a roundtable discussion in London.

The Association of Bermuda Insurers and Insurers (ABIR) organized the event, which is on the schedule for a Bermuda Business Development Agency delegation, led by Premier Burt, visiting the United Kingdom this week for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services industry.

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, U.K. Representative for Government of Bermuda; Brandon Sousa, Bermuda Government London Office; and Jordan Scott-Furtado, Deputy Cheif of Staff to the Premier.

The Lloyd’s of London leadership was represented at the roundtable by Chairman, Bruce Carnegie-Brown and Chief Executive Officer, John Neal.

Industry executives attending the meeting include: Stephen Catlin, Founder and CEO, Convex and Past Chair of ABIR; Hugh Sturgess, CEO, Arch Insurance International (On Behalf of Marc Grandisson, ABIR Chair); Kathleen Reardon, CEO, Hiscox Re; Hugh Brennan, CEO, RenRe Syndicate Management; Adrian Daws, CEO, Hamilton International; Mitch Blaser, Co-CEO, Mosaic Insurance; Christian Dunleavy, Group CUO, Aspen; Mark Cloutier, Chairman and CEO, Aspen; Olly Reeves, Group Chief Risk Officer, Mosaic Insurance; and John Huff, President and CEO, ABIR.

Bruce Carnegie-Brown, Chairman of Lloyd’s, said: “As two leading, global (re)insurance markets, Lloyd’s and Bermuda have a shared interest in building an even stronger insurance industry to provide insurance and risk solutions to our clients around the world.

“We’re privileged to have had the opportunity to host the Premier and our friends from Bermuda at Lloyd’s. It’s clear that by focusing on issues of mutual interest, there’s substantial scope to invest further in our existing partnership.”

John Huff, president and CEO of ABIR, 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.”

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About ABIR: The Association of Bermuda Insurers & Reinsurers (ABIR) represents Bermuda’s major property and casualty insurers and reinsurers doing business in 150 countries. Bermuda is an internationally recognized center of global expertise on underwriting for catastrophe, climate, cyber, mortgage & credit risk transfer products, along with other specialty insurance and reinsurance. For more information, please visit: www.abir.bm. Follow us on Twitter @ABIR_Bermuda.