Industry News

BFSB, ICB Talking Insurance at Global Conference

Monday April 16th, 2012

Category: Industry Information, Insurance

Aliya Allen, BFSB CEO

Aliya Allen, BFSB CEO

The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB) are in Philadelphia this week attending RIMS 2012, the annual Conference and Exhibition of the Risk Management Society. More than 10,000 delegates from around the world are in attendance at the event which runs from April 15 to 18, and which has become renowned for the exceptional insurance sector educational opportunities all in one location. It continues to provide a great setting for networking with peers and meeting new contacts that can open up doors for new opportunities.

“It is critical that we have a presence at events such as RIMS” said Ms. Allen BFSB’s CEO and Executive Director, “since our evolving insurance sector requires exposure to global insurance decision makers. By partnering with ICB we are not only able to showcase the insurance opportunities in The Bahamas but also present the broader financial services and business landscape that exists. It is in keeping with the integrated approach that we have adopted for the industry.”

Arvind Baghel, Head of Insurance Supervision at ICB, said RIMS provides the Commission with the opportunity to hear firsthand about global developments and trends in the insurance industry. "We are here to stay abreast with international developments in insurance and to support BFSB's efforts to promote The Bahamas' insurance sector," he said.

The Bahamas is exhibiting at the conference to promote the advantages of this jurisdiction as an insurance domicile to the thousands of global delegates who will be in attendance. Joining Ms. Allen at RIMS as part of the delegation are Venetia Gibson of BFSB and Carl Culmer of the ICB.

In March BFSB and ICB also jointly attended the annual International Conference of the Captive Insurance Companies Association (CICA) in Scottsdale, Arizona.