ABIR and Lloyd’s strengthen ties during delegation visit

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

The event was part of the schedule for a Bermuda Business Development Agency delegation, led by Premier Burt, visiting the UK this week for a series of meetings aimed at building relationships and stimulating additional growth in the island’s financial services industry.

The Lloyd’s chairman, Bruce Carnegie-Brown and chief executive officer, John Neal, were both present.

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.

A “productive partnership” 

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.”

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.”

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.