More than 120 people converged on Bermuda for a conference for specialists in insurance and reinsurance law.

The Insuralex event — the first time the international group has held its mid-year meeting on the Island — attracted nearly 40 overseas professionals, representing 12 countries.

Alan Dunch, director of Bermuda law firm MJM, the Bermuda member of the Insuralex network, said London-based Devereaux Chambers, which has close links to his firm, provided top guest speakers at the event, which included an overview of the insurability of fines and penalties.

Chief Justice Ian Kawaley and Minister for Economic Development Dr Grant Gibbons also attended the conference, held at the XL Centre in Hamilton.

He added: “The presentation by Devereaux Chambers was both engaging and thought provoking. The event was a unique gathering of Bermuda’s insurance executives and Insuralex members and attorneys.

“We hope that the event will drive new business to Bermuda and we have already begun to plan for some of the lawyers to return to Bermuda in 2014.”

Insuralex President Bill Perry said: “The mid-year meeting was an excellent showcase of the Bermuda reinsurance industry and its international connections as well as what Bermuda has to offer as a business jurisdiction.”