Business Leaders: BIBA chief Cheryl Packwood, second right, poses with other island business delegates at the hedge fund summit in New York this week.
Business Leaders: BIBA chief Cheryl Packwood, second right, poses with other island business delegates at the hedge fund summit in New York this week.
Globe-trotting BIBA officials and business executives put Bermuda on the map by attending another overseas summit - this time in New York.

A delegation lead by the Bermuda International Business Association attended the Hedge Fund World Global Opportunities Conference in New York, according to a press statement.

The conference is the largest gathering of emerging market investors and fund managers and their advisors in the world, it said.

The Bermuda delegation was made up of BIBA CEO Cheryl Packwood, Tokio Millennium Reinsurance VP Kathleen Faries, Attride-Stirling & Woloniecki attorney Neil Horner, and Empyrean Re chief Nilesh Vasani.

The hosted a panel discussion entitled, 'Exploring the convergence of reinsurance and capital markets', the press statement said.

The discussion, moderated by Mr. Vasani, covered a range of topics including applying alternative techniques to traditional mechanisms, examining illustrative transaction structures such as CAT Bonds, industry loss warranties and sidecars, defining the elements and process of reinsurance-based capital markets transactions, looking at how to guarantee difficult to insure risk through alternative solutions, and presented a Bermuda case study to illustrated this emerging trend.

"The capital markets have grown to embrace and employ the sophisticated structures and strategies found in the reinsurance market to take advantage of the uncorrelated risks found in reinsurance," Mr. Vasani said. "Bermuda, as a premier reinsurance market, has become the jurisdiction of choice for investors seeking participation in this asset class," he said.

BIBA chief Cheryl Packwood echoed Mr. Vasani's words.

Bermuda 'at forefront'

"Bermuda is at the forefront of many investing trends. Unlike our competitors, we are focused on innovation and excellence, not duplication and mediocrity," she said.

"This conference was a great opportunity to highlight Bermuda's expertise and drive our message directly to our customer base.

"BIBA is fortunate to have such a strong panel of experts, who are so skillful and expert at delivering the Bermuda message. We thank Jonathan, Kathleen, Neil and Nilesh for their leadership and are excited about the opportunities for us going forward."

The conference was attended by delegates representing a cross section of current emerging markets, from Eastern Europe to Africa and South Eastern Asia.

Aside from its own panel discussion, the delegation also attended other discussions and actively participated in all facets of the conference, the press statement said.

The Hedge Fund World Global Opportunities Conference kicked off on Tuesday and runs through today.

About 250 people from around the world attended.