Premier bangs the drum for Bermuda at RIMS

MONDAY, APR. 16: Premier Paula Cox last night hosted a reception for major players in the insurance industry at a prestige conference.

Ms Cox, also Financie Minister, was at the annual Risk and Insurance Management Society (RIMS) conference in Philadelphia, attended by 10,000 delegates from 50 countries.

She said: “Bermuda is universally acknowledged as a premier financial services jurisdiction. We have an established reputation for economic, political and social stability and are committed to prudent long-term financial planning, but we cannot rest on our laurel and take our success for granted.

“Attendance and a strong presence at RIMS affirms our commitment and our unwavering support to a key sector of our economy.”

Ms Cox added that Bermuda played host to global leaders in the industry – which provided or supported thousands of Bermudian jobs.

She said: “We need to keep telling re-telling our story about the success of the Bermuda market. We also need to ensure that we continue to reinforce that we are open to and open for business and that there continues to be opportunitities to grow this key sector in a sound regulatory and reputable environment.

“Bermuda is a success story and we do not intend to hide our light under a bushel.”

Bermuda, through Ms Cox, was the only country invited to visit the booths on the convention floor in an official capacity.

Later, she hosted the Bermuda reception, which traditionally attracts a large attendance. The reception also featured a “trade show” highlighting specialities of the Bermuda market.