It works in Monte Carlo, now Bermuda is set to stage a global gathering of executives in a key business sector during a week that allows them to mix meetings with networking opportunities and even unwind at the Island’s World Rugby Classic.Modelled on other global gatherings, such as Monte Carlo’s famed Rendezvous, the Island’s inaugural global insurance-linked securities (ILS) conference, Convergence 2013, is being promoted as a “not-to-be-missed” event for those involved in the sector.It will be held on November 14, taking advantage of a natural movement to the Island of audit committees and top executives at that time of year. It coincides with Bermuda’s World Rugby Classic, which is another popular place for executives to relax and mingle.And like the Rendezvous event, which brings together top minds and innovators from around the world to connect with each other and negotiate and develop new business deals, Convergence 2013 will see insurance and reinsurance companies, sponsors, investors, securities firms and investment banks, asset managers, regulators and service providers gathering in Hamilton.That’s the vision of ILS Bermuda, a newly formed group of member organisations who are engaged in global capital markets and insurance on the Island, which has created Convergence 2013.Details of the conference are still to be announced, but it will be modelled on the likes of Rendezvous and other global reinsurance events.ILS Bermuda envisages delegates from around the world having the opportunity to network and discuss the industry’s most strategic opportunities and pressing challenges in an environment focused on building relationships and making deals.“As the world’s leading jurisdiction for insurance-linked securities and collateralised reinsurance, Bermuda is a natural convergence hot spot and therefore an ideal host for this conference,” said Kathleen Faries, spokesperson for ILS Bermuda.“ILS Bermuda brings together the shared interests of participants in the reinsurance and capital markets convergence marketplace. Our aim is simple: build and sustain businesses, promote job creation and lead economic growth in the convergence space in Bermuda. We believe this conference will become the marquee event for the ILS industry.”Economic Development Minister Dr Grant Gibbons said: “We are excited about the creation of ILS Bermuda and the planning now underway for their first event, Convergence 2013, which will present the Island as the pre-eminent domicile for ILS.“The Ministry of Economic Development is pleased to support this joint industry initiative, especially given its focus on developing new business and commercial opportunities for Bermuda organisations active in alternative reinsurance and insurance-linked securities.“This conference is exactly the sort of initiative from the Bermuda Business Development Corporation that we want to encourage as they actively engage with industry stakeholders. ILS activity in Bermuda has grown rapidly in the past few years and Bermuda has been independently lauded as the world’s top domicile.”Dr Gibbons added: “A combination of intellectual property, leading investor and reinsurance marketplaces, a tried and tested approach and the right listing and regulatory backdrop, provide for optimal conditions and competitive advantage for transacting insurance-linked deals. We want to continue building on this momentum — and believe that Convergence 2013 will cement Bermuda’s position as a leading jurisdiction in this space.”The conference is being held during a week in Bermuda well known for industry gatherings, notably audit committees and the arrival of top executives for functions and meetings.Mrs Faries said: “Whether you’re a sponsor, investor or intermediary, Convergence 2013 will equip attendees with the latest industry insights and connections to help them build their business and succeed in the market. If there is one event to place on your business calendar for 2013 it’s this ones.”Visit ils-bermuda.org or contact info@ils-bermuda.org for further information. Conference registration details will be provided in the coming weeks.