Reinsurance
Abic says island must be ready for heightened competition
- Nov 26, 2024 8:00 AM
Through partnerships with Regulatory, Government and Professional Organizations, ABIC promotes a sound business environment for the International business and the Bermuda community to ensure that Bermuda continues as the business domicile of choice.
ABIC was formed in 1971 as the International Companies Division of the Bermuda Chamber of Commerce. In 2001, given the dramatic growth of the international business sector in Bermuda, we incorporated ABIC as an independent organization to better address the needs of our membership. ABIC is a membership organization with more than 110 members representing the broad diversity of international business in Bermuda, insurance and reinsurance, investments, shipping, pharmaceuticals, and energy. We exist to serve our members and our success is measured through an improved Bermuda business environment.
ABIC also administers a major educational award programme offering $600,000 a year to support promising local students pursuing higher education abroad, primarily in fields related to international business.
With the dramatic growth of the international insurance and reinsurance and financial service sectors, international business and its support services have come to generate, on an annual basis, more than 50% of total revenue for the Island.
