The Lord Mayor of the City of London, Alderman Professor Michael Mainelli, is set to call on Bermuda this Sunday for a business development trip that marks the first such visit to the island in 35 years.

Government House said Mr Mainelli, who also heads the City of London Corporation, will be on the island until Tuesday.

The visit is aimed at deepening ties between Bermuda, London and Britain in financial and professional services, as well as examining potential future opportunities.

Mr Mainelli will be accompanied by Tim Rolph, swordbearer and head of programmes at the Lord Mayor’s official residence of Mansion House.

He will be joined by Shami Shah, the corporation’s trade and investment director.

Mr Mainelli said Britain and Bermuda were “two of the biggest insurance centres in the world and enjoy very close ties politically, economically and familiarly”.

He said he had shared a “positive meeting in London” with David Burt, the Premier, who is overseas to strengthen relations and build the island’s global business reputation.

The two discussed “how our insurance sectors could better work together to serve clients”, he added.

Mr Mainelli plans to increase collaboration with the Bermuda Stock Exchange, and financial and professional services on the island, with a focus on digital assets, insurance-linked securities and financial innovation.

He said: “As the first Lord Mayor to visit in 35 years, I’m keen to identify two-way investment opportunities, particularly in sectors such as digital finance, green finance, and space technology to the benefit of both sides.”