IB Week 2021 launches

Hamilton, Bermuda, March 30, 2021— The annual International Business (IB) Week commenced yesterday with a new digital campaign, “International Business is Everyone’s Business”. The campaign will promote scholarships and career opportunities in IB available to young people as well as highlight how the island’s global corporations supported the economy and wider community throughout the challenges of the COVID-19 pandemic.

The campaign, which includes portrait photography by award-winning Bermudian Meredith Andrews, will run on social channels throughout the year. The success stories of four young and talented Bermudians who work in the sector – Kimika Jackson, Jevon Swan, Amon Wedderburn and Kaisha Wilson – are highlighted on the website with Maha Clarke, Chen Foley, Cara Johnston and Teree Tucker also featuring in the campaign, all of whom are successful ABIC scholars.

A virtual quiz will also be held for the island’s middle schools, in place of hosting school visits to comply with current safety measures, and provides an engaging way to build on ABIC’s ongoing work with teachers to create international business curricula geared to this age group.

Patrick Tannock, Chairman of the Association of Bermuda International Companies (ABIC) and CEO of AXA XL’s Bermuda Insurance Operations, said: “IB Week is not just about putting the spotlight on the sector, which is something ABIC has been doing for the past 50 years. It is also about connecting with all stakeholders in the community to build a better understanding of what IB entails and why it is so important to Bermuda’s economic recovery, stability and advancement as a leading business jurisdiction. After all, we are all in this together – International Business is as critical to Bermuda as Bermuda is to International Business. At ABIC, we have long recognised the importance of developing our local talent pool and ensuring the participation of Bermudians in the International Business sector. We are proud to have supported more than 700 Bermuda students with college scholarships, many of whom now hold leadership positions.

“In the last 10 years alone, our members have invested more than $5.5 million in the education of Bermuda’s young people and we plan to continue to do so well into the future.”

This year IB Week runs from March 29 and is led by ABIC in partnership with the Association of Bermuda Insurers and Reinsurers (ABIR), Bermuda International Long Term Insurers and Reinsurers (BILTIR) and the Bermuda Business Development Agency (BDA).

John Huff, President and CEO of ABIR, said: “During the first six months of 2020, our member companies contributed $3.1 million of support for Bermuda charities and Bermudians represent over 72% percent of ABIR’s member workforce. While ABIR member companies serve a global community they remain committed to supporting and investing in the island’s economy and her people. We are here today, and we will be here tomorrow – driving economic growth with the support of our strong Bermuda workforce.”

Shelby Weldon, Executive Director of BILTIR, said: “I’m incredibly proud to say that BILTIR and its member companies contributed over $4m in donations to a range of deserving projects across the community in 2020. The life reinsurance sector also supported more than 50 initiatives, including volunteering, fund-raising, sponsorships, scholarships, mentoring and donations to local causes and schools. Bermuda life insurers play a critical role in the global industry and it is a sector that continues to grow with new companies establishing themselves on island, underscoring the opportunity in this space.”

Roland Andy Burrows, CEO of the BDA, said: “2020 presented enormous challenges for everyone, and while challenges still remain, the international business sector demonstrated its resilience, stability and continued commitment to Bermuda. The sector is not only the island’s key economic driver, it is absolutely vital to our economic recovery and future growth. The global corporations, industry associations and individuals involved have given generously, financially and otherwise. And importantly they continue to give our young people real opportunities to succeed and realise their aspirations in a number of industries where Bermuda sets the global standard.”

To find out more about IB Week, visit www.bda.bm/ib.

About ABIC
ABIC is the voice of international business in Bermuda, representing more than 100 international companies incorporated in Bermuda. ABIC’s membership represents all sectors of international business and its support services including, insurance and reinsurance, managers and brokers, investment managers, banks, accounting, audit firms, pharmaceuticals and shipping. For more information, please visit: www.abic.bm

About ABIR
The Association of Bermuda Insurers and Reinsurers (ABIR) represents Bermuda’s major property and casualty insurers and reinsurers doing business in 150 countries. Bermuda is an internationally recognised center of global expertise on underwriting for catastrophe, climate risk and cyber-risk transfer products along with other specialty insurance and reinsurance. For more information, please visit: www.abir.bm. Follow us on Twitter @ABIR_Bermuda.

About BILTIR
BILTIR is committed to supporting the long-term insurance and reinsurance industry’s growth and success in Bermuda and globally. Visit www.biltir.bm.

About BDA
The BDA encourages direct investment and helps companies start up, re-locate or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Our goal? To make doing business in Bermuda smooth and beneficial. Visit www.bda.bm and follow us at @investbermuda.