The Association of Bermuda Insurers and Reinsurers and EY are to return as headline sponsors of the Bermuda Risk Summit for a fourth consecutive year.

The annual event, presented by the Bermuda Business Development Agency, will be held from March 10-12 at the Hamilton Princess & Beach Club.

The BDA said the immediate economic impact of the 2024 event, which had more than 450 attendees, including 40 per cent from overseas, was estimated at $3.4 million. This impact encompassed spending on accommodation, transportation, food and beverages, retail and recreation, while supporting 432 jobs.

The BDA said: “Even more significant were the long-term economic benefits driven by additional visitors who travelled to Bermuda for business meetings during the week of the summit.

“This signature event continues to play a vital role in advancing the BDA’s broader strategy to strengthen Bermuda’s global presence, drive economic growth and cultivate valuable relationships within the international business community.”

Kendaree Burgess, the managing director of the BDA, said: “We greatly appreciate Abir and EY’s unwavering support over the past four years. Their partnership reinforces the Bermuda Risk Summit’s role in showcasing Bermuda as a leader in the global [insurance and reinsurance] industry.

“As we approach the 2025 Summit, we are committed to delivering an exceptional experience that fosters meaningful connections and insights at a crucial juncture in the industry's calendar.”

John Huff, the president and chief executive of Abir, said: “The Bermuda Risk Summit is a premier forum for the industry, fostering critical dialogue and collaboration among global leaders.

“Abir and its member companies are honoured to support this pivotal event, which drives innovation and actionable solutions to address the global protection gap. We are keen to collaborate with industry stakeholders to ensure the 2025 edition exceeds expectations.”

Craig Redcliffe, EY Bermuda partner and Regional Insurance Leader at EY, added: “EY is thrilled to once again serve as headline sponsor of the Bermuda Risk Summit.

“We’ve seen the summit evolve into a cornerstone event for the global [insurance and reinsurance] community. The 2025 summit offers an unparalleled opportunity to connect with industry leaders, showcase Bermuda’s competitive strengths, and continue shaping the future of the global risk industry.

“We look forward to teaming with the BDA and leveraging our global networks in support of this important event.”