Nearly 200 professionals from Bermuda are set to attend the insurance industry’s largest annual conference next month.

The Risk and Insurance Management Society (RIMS) conference, to be held in New Orleans, is expected to attract 10,000 delegates, as well as around 400 exhibitors.

Ross Webber, CEO of the Bermuda Business Development Agency (BDA), which orchestrated the Island’s presence, said a strong presence was vital to maintain the Island’s profile and attract new business.

He said: “Bermuda is welcomed at RIMS, thanks to our renowned reinsurance and insurance industry sector, one of the top three in the world.

“This event is an important one for reinforcing the Island’s long-held reputation as the ‘world’s risk capital’.”

Mr Webber added: “The insurance sector is a sizeable provider of jobs for Bermudians and this sort of work by the BDA helps companies’ ability to preserve those jobs and grow more job opportunities.”

Premier Michael Dunkley, Finance Minister Bob Richards and Economic Development Minister Grant Gibbons will also attend, alongside Shelby Weldon of the Bermuda Monetary Authority (BMA) and Island-based companies.

Mr Weldon said: “The Bermuda Monetary Authority is pleased to be part of Team Bermuda at this year’s RIMS.

“Though our risk and insurance industry is a world leader, competition is fierce and we cannot afford to rest on our laurels.

“The RIMS platform gives us the opportunity to brief delegates about Bermuda’s well-respected risk-based regulatory environment.”

The event will also feature a BDA booth — a two storey structure featuring traditional Bermuda architecture — with staff from the agency and industry representatives available to brief attendees about the Island.

BDA business development manager Jereme Ramsay said: “Our BDA booth is very visible and highlights Bermuda as the cornerstone of the risk industry.

“We’re home to 15 of the top 40 reinsurers — and we’re the leading jurisdiction for both captives and ILS industries.

“We look forward to bringing home new business for the Bermuda marketplace.”

Representatives from scores of Bermuda firms will participate, including Ace, Aon, Appleby, Artex, Bermuda Commercial Bank, Canopius Underwriting Bermuda, Chubb Atlantic Indemnity, Conyers Dill & Pearman, Endurance, HSBC, Markel Bermuda, R&Q Quest Management Services, and XL Insurance.

The RIMS conference will be held between April 26 and 29 at the Ernest N Morial Convention Center, in the city’s Convention Center Boulevard.