Bermuda plays host this week to the major annual Latin American risk management conference, the ALARYS Congress.

Premier Ewart Brown will open the event at the Fairmont Southampton hotel this morning, followed by opening remarks from Finance Minister Paula Cox.

Dozens of risk managers, underwriters and brokers will take part in three days of sessions, presentations and meetings.

More than a dozen countries will be represented, as delegates and interpreters arrive here for the tri-lingual conference from Latin America, South America, North America and Europe.

This will be the second time the Island has hosted the Congress of ALARYS, which stands for Asociacion Latinoamericana de Administradores de Riesgos y Seguros. The first time, in 2004, was widely considered a success.

The International Federation of Risk and Insurance Management Associations (IFRIMA), an umbrella organisation representing 23 organisations in more than 30 countries, is holding its annual meeting in conjunction with ALARYS.

Hence some of the most influential risk managers in the world will be on the Island, including Risk and Insurance Managers Society (RIMS) president Terry Fleming, IFRIMA president Carl Leeman and ALARYS president Jorge Luzzi.

Mr. Luzzi and and Mr. Leeman will talk in today's first session, focusing on risk management.

Other speakers of international repute include the CEO of Marsh's International Division, Alexander Moczarski and XL Group CEO Mike McGavick, who will both speak tomorrow morning.

The conference runs through until Wednesday lunchtime.

For more information on the conference, see the event's website at www.alarysbermuda.com