Bmda: Chinese learning insurance from Bermuda

Twenty-five Chinese insurance regulators are on the Island to learn about the Bermuda insurance model through a programme sponsored by ACE Limited.

The week-long programme, which kicks off today, is being conducted by the United Nation’s World Trade University (WTU) in partnership with ACE and was said to be a learning experience designed to support China’s developing insurance market.

Bermuda was chosen as the place to host this inaugural session of the programme because it is a model of a well-established, leading insurance market.

This was according to the WTU’s president and CEO Sujit Chowdhury, who was introduced at a press briefing on Friday by Acting Finance Minister Michael Scott.

Mr. Scott said that Bermuda was pleased to be a host to the Chinese delegation, and added that both Government and the Bermuda Monetary Authority – who will give a special presentation to the group on regulation of the Island’s insurance sector – looked forward to “sitting down” with the group.