BOSTON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/insurance?src=hash” target=”_blank”gt;#insurancelt;/agt;–Bermuda’s significant contribution as a global financial partner to
American cities and communities was recognised by city, state and
business leaders who welcomed an island delegation to Boston this week.
Massachusetts Governor Charlie Baker invited Premier David Burt, Finance
Minister Curtis Dickinson and other members of a Bermuda delegation to
the landmark State House yesterday, where the group chatted with the
popular second-term Republican, a former healthcare group CEO, about
Bermuda’s tight links to the US Northeast through jobs, trade, tourism,
education, healthcare and re/insurance via Bermuda-based global
carriers. Member companies of the Association of Bermuda Insurers &
Reinsurers (ABIR) paid more than 15 percent of devastating losses after
2012’s Hurricane Sandy, and today support more than 800 jobs in
Massachusetts and 3,200 throughout New England.
“It was a pleasure to meet Governor Baker at the state capitol and talk
about Bermuda’s meaningful long-time connections to this region. We
share common social and economic challenges, from climate change to
technological disruption, as well as great business opportunities, so we
look forward to continuing these fruitful discussions,” said Premier
Burt, who along with the Minister attended the meeting with Assistant
Financial Secretary Pamela Burrows and the Bermuda Business Development
Agency’s CEO Andy Burrows. The group also met with Mark Sullivan,
Executive Director of the Massachusetts Office of International Trade &
Investment, who gave a tour of the historic Beacon Hill building,
including the 18th-century Massachusetts House of Representatives
Chamber.
“Our visit to Boston was a valuable opportunity to meet with business
and civic leaders and discuss mutual challenges and opportunities both
our communities can take advantage of,” noted the BDA’s Burrows. “The
conversations highlighted economic areas Bermuda and the Greater Boston
area are strategically focused on, and those it would benefit us to
explore further. The Bermuda-Boston history was appreciated, and our
discussions were a good way to renew relationships and forge new bonds.”
The Bermuda delegation, in Boston to attend the Risk and Insurance
Management Society (RIMS) Annual Conference, met at City Hall with
Boston’s Chief of Economic Development John Barros, who detailed
urban-renewal projects he has spearheaded to revitalise neighbourhoods
and foster economic inclusion. The group also sat down with Greater
Boston Chamber of Commerce CEO James Rooney and his executive team to
discuss ways to encourage innovation, racial equity, and workforce
competitiveness, and was invited to tour the Boston Options Exchange
(BOX), which shares a majority owner, TMX, with the Bermuda Stock
Exchange. And the Premier and team paid a visit to the downtown
headquarters of Circle.com, a virtual currencies exchange company whose
founders visited the Cabinet Office last week and are planning to
establish a Bermuda presence.
Media coverage, including a broadcast by Tom Moroney and Janet Wu of
Bloomberg Radio’s Baystate Business, discussed the island’s economy and
historical, maritime and modern-day links with the region. Earlier in
the week, in-depth interviews also took place with insurance industry
media at RIMS, including The Insurer, Business Insurance, Reactions and
AM Best-TV, along with RIMS-TV.
RIMS, which attracted 10,000 delegates from more than 60 nations, saw a
strong Bermuda presence, including an official welcome by RIMS
executives, business development meetings at the Bermuda Booth, and
attendance by scores of insurance professionals from companies based on
the island.
The Bermuda market’s profile was particularly high after news this week
that insurance legend Stephen Catlin has returned to the island with a
$1.8-billion reinsurance start-up, Convex, that has an A- AM Best
rating, and an announcement Bermuda will host its first RIMS Risk
Management Academy, an invite-only thought-leadership and networking
event slated for July 14 to 17.
CONNECTING BUSINESS
The BDA encourages direct investment and helps companies start up,
re-locate or expand their operations in our premier jurisdiction. An
independent, public-private partnership, we connect you to industry
professionals, regulatory officials, and key contacts in the Bermuda
government to assist domicile decisions. Our goal? To make doing
business here smooth and beneficial.
Contacts
Rosemary Jones
Head of Communications & Marketing
[email protected]
441
278-6558 or 441 337-4696
