Organisers of the World Insurance Forum (WIF) to be held in Dubai said it will be "the the single largest and most important event ever organised by Bermudians outside the Island".

Statesmen, top insurance and reinsurance executives and even "world leaders" will come together at the event, the eighth WIF and the first to be held outside Bermuda, from March 17 to 20.

The theme of the event is "West Meets East", reflecting the growing economic importance of the Middle and Far East and the business opportunities that brings.

Sheikha Lubna Al-Qazimi, the United Arab Emirates' (UAE) Minister of Economy will speak at the Forum. In November 2004, Sheikha Lubna became the first woman in the UAE's history to assume a cabinet position, when she was appointed to manage the UAE's newly merged economy and planning portfolio. She is a former chief executive officer of Tejari, a major e-business technology company in the Middle East.

A CEO Leadership Panel featuring some of the world's top insurance industry CEOs will be another feature of the event. On the panel will be: Jacques Aigrain of Swiss Re, Greg Case of Aon, Lord Peter Levene, chairman of Lloyd's, Brian O'Hara of XL Capital and Martin Sullivan of AIG.

The Forum will feature nine additional sessions and a number of keynote speakers, including respected world leaders and subject matter experts, whose names will be released at a later date.

"The World Insurance Forum this year will be a unique event of great importance to the insurance community," said Michael Butt, chairman of Axis Capital Holdings, who is also chairman of World Insurance Forum Advisory Board. The Board is composed entirely of Bermuda insurers and reinsurers, as is the Operating Committee responsible for staging the Forum.

"Our theme this year, in view of the event being held in Dubai, is 'West Meets East'. Delegates will be attending from the US and Europe, and from the United Arab Emirates, Middle East and Far East countries.

"The most influential companies in their field will consider and debate the critical issues facing both the multi-billion dollar insurance sector and its impact on a global society as a whole."

Mr. Butt will moderate the CEO Leadership Panel to allow industry leaders to share their insights regarding the current and future state of the industry.

CEOs with global businesses headquartered in the UK, Europe, US, and Bermuda will provide critical context and perspective following presentations by leading world figures on today's "three most important risks threatening mankind" — namely The Advantages and Risks of Globalisation; Understanding Terrorism in Today's World; and Man's Impact on the Global Environment.

"The Forum will be unlike any insurance gathering ever held, as western companies and individuals are invited to the gateway to the Middle and Far East insurance and reinsurance markets and to meet the leaders of these rapidly growing markets," organisers said in a statement released yesterday.

Neill Currie, CEO of Bermuda reinsurer RenaissanceRe Holdings Ltd., said: "RenaissanceRe is proud to be a major sponsor of the World Insurance Forum. Events of this calibre offer insurance and financial sector leaders a unique opportunity for fostering the exchange of ideas and information on a global level. Such dialogue is essential for successfully resolving the challenges of the future."

Dubai, the second-largest of the seven United Arab Emirates (UAE), has been a trading port and a commercial hub for several centuries.

The Dubai International Financial Centre (DIFC) is one of the lead sponsors of WIF. It aims to develop the same financial stature as that of Hong Kong, London and New York. The DIFC primarily serves the vast region between western Europe and eastern Asia.

The main sponsors of WIF are Dubai International Financial Centre, RenaissanceRe, XL Capital, PWC, Axis, IG Insure (International General Insurance Company Ltd.).

WIF was first held in 1993 and is a bi-annual event, owned and organised by the Bermuda Insurance Symposium, a not-for-profit Bermuda company.

Anyone interested in registering for the event should visit www.worldinsuranceforum.com.