Newsletter of the
Bermuda Business  Development Agency (BDA)
MARCH 2017
In their own words
I am expected to fly Bermuda's reputational flag. As CEO of the country's business development agency, it's a given. As the Geico ad goes, "it's what you do."

I'm a staunch defender and pro-active advocate for the jurisdiction. I genuinely believe in Bermuda's undeniable value as a blue-chip international financial centre. Yet that message has even greater resonance coming from currently practicing industry executives, those who have chosen Bermuda as a domicile from which to wield a powerful global corporate impact and who believe in Bermuda's strengths because their own companies depend on such competitive advantages.

 
Bermuda speakers at RIMS 2017
Premier Michael Dunkley joins four other Bermuda speakers in Philadelphia next month at RIMS 2017, the insurance industry's biggest event of the year. The Premier will talk about Bermuda's historic US ties and the island's global economic impact. Others speaking at the conference are: Stephen Catlin, Executive Deputy Chairman of XL Catlin; Al Gier, President of Bermuda Captive Owners Association (BCOA); Brad Kading, President and Executive Director of the Association of Bermuda Insurers & Reinsurers (ABIR); and Brian Quinn, Founding Director of Granite Management. It's the first time a Bermuda Premier has delivered an official session at RIMS, which attracts 10,000 industry attendees.
The future of fintech
How will fintech reshape our lives...and how fast? Members of 100 Women in Finance Bermuda enjoyed a briefing by EY Americas Fintech Leader Matt Hatch on everything from peer-to-peer lending and friction-less payments to robo-advice, blockchain and the morphing cultural mindset driven by the Fourth Industrial Revolution (4IR). Attendees included representatives from BDA, Beesmont, EY, International Financial Planning, Wakefield Quin, Oyster Consulting, and Hamilton Insurance Group. Economic Development Minister Grant Gibbons also addressed fintech this month in a piece for Bermuda Re + ILS. Noting Bermuda's legacy of innovation, Gibbons said the island is in a unique position to take a leading role in a fast-emerging field.
Shipping
BDA Board member and Bermuda Shipping & Maritime Authority (BSMA) Chair Paul Scope (left) joined BSMA's Edward Robinson and colleagues from BDA, Consolidated Group, Delphi, Bernhard Schulte, Shoreline and Appleby Global at the Connecticut Maritime Association (CMA) conference. We also helped promote Bermuda for cruise-ship registration this month at the 2017 Seatrade Cruise Global conference in Fort Lauderdale, FL, also attended by Bermuda Tourism Authority (BTA) and Meyer Group.
Superyachts & HNWIs
BDA attended Florida's Palm Beach Boat Show as well as an associated My Yacht Group Superyacht Reception this month. The HNWI event was held in conjunction with IYC Luxury Yachting Worldwide, providing a perfect setting for BDA to connect with executives, potential investors and superyacht owners in preparation for this summer's America's Cup. BDA's Kevin Richards (above), and team were joined by the Bermuda government, EY, Willis, Clarien Bank, Goslings, the Loren, and Caroline Bay.
Healthcare
Delegates to the Bermuda Healthcare Forum gave the inaugural event a resounding thumbs-up. Held at Rosewood Tucker's Point, the two-day event attracted 140 attendees, despite travel disruptions due to winter storm Stella. BDA CEO Ross Webber gave a keynote speech detailing the evolution of Bermuda's insurance market. The conference, aimed at insurance buyers from major healthcare systems, also explored industry cyber threats and regulatory risk.
Insurance
Our CEO Ross Webber addressed members of the life and annuity sector at the Bermuda International Longterm Insurers & Reinsurers (BILTIR) AGM. Webber spoke about BDA-BILTIR's mutually beneficial partnership over the past year and collaborative opportunities in the year ahead. Pictured, from left: Patrick Kelleher, CEO, Somerset Re; April Galda, CEO, Global Atlantic Re; Webber; and Sylvia Oliveira, CEO, Wilton Re.
Captive Insurance
BDA's Jereme Ramsay led a strong Team Bermuda on a captive roadshow to Santiago, Chile and Lima, Peru this month. The initiative included two executive forums in each city, along with meetings with prospects and service providers who learned more about Bermuda. Island-based industry participants were:  Janita Burke of Estera, Andres Carmona of Marsh, Alejandra Castano of JLT, Daniel Message of EY, and Giulianna Molero Solari of PwC.
Asset management
BDA led an industry team to the 17th Annual International Bar Association (IBA) International Conference on Private Investment Funds in London. Representatives from Conyers, Appleby and Taylors in association with Walkers attended the three-day event, which drew top legal, business and fund professionals. Sessions explored trends affecting private equity and hedge funds, regulatory and tax updates, and emerging topics in the European Union and elsewhere.
Family Office
BDA's John Narraway and Deshay Caines networked with investors and biotech startups at Small Cap Nation's Family Office & Life Science Symposium in New York. Held at NASDAQ's MarketSite, the invitation-only event matches sophisticated investors with transition-stage public and private biotech, life-science, healthcare and medical technology companies focused on the latest disruptive technologies. The event included presentations, one-on-one meetings, and networking opportunities.
Trust & Private Client
Sean Moran led a Bermuda industry group to London to host a Private Client Dining Club networking event for a second year. The evening at The Dorchester attracted 120 leading private-client advisors, trustees and wealth managers. Bermuda attendees included representatives from ASW Law, Butterfield Group, Clarien Bank and Conyers. Moran noted Bermuda's advantages for high-net-worth individuals and families, particularly its market safety amid Brexit and other geopolitical concerns.
Ahoy for charity!
Our Board member Steve Weinstein played pirate to raise $13,000 (including matching funds from Renaissance Reinsurance) for the Bermuda Sloop Foundation this month. He joined members of WISTA Bermuda and other corporate stakeholders who walked the plank off sail-training vessel Spirit of Bermuda into a relatively chilly Hamilton Harbour to support programmes for Bermuda youth.
Next generation
We were proud to host an industry briefing for 15 visiting members of the American Association of Managing General Agents (AAMGA) Under Forties Organization (UFO). Representatives from ABIR, BIMA, BII and BIRBA spoke about Bermuda's market to the group, which comprised insurance-sector professionals from across the US. Their four-day International Summit included company visits, plus a boat tour.


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.
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