The decision to host the event in Dubai marks the first time that the WIF has held the biennial insurance and reinsurance industry event outside Bermuda, where it is headquartered, and aims to further involve new and evolving global markets.

The WIF in Dubai will be a global summit at the entrance of the world’s fastest growing middle and eastern markets, and is expected to draw industry insurance and reinsurance leaders and key government authorities from multiple jurisdictions worldwide. The 2008 program will, for the first time, also include opening discussions by current and former heads of state.

The World Insurance Advisory Board is composed of senior insurance and reinsurance executives from Bermuda’s international insurance industry, and is chaired by Michael Butt, chairman of AXIS Capital Holdings Ltd.

Mr. Butt stated: "Over the last 15 years Bermuda has become a leading market for global insurance and reinsurance business. As the world continues to globalize, Dubai is seeking to become the leading center for the Middle East and South Asian region. I am therefore delighted that we have this opportunity to open doors, build relationships, exchange views, develop mutual opportunities and move forward to help establish the standards of international Best Practice."

Dr. Omar bin Sulaiman, Governor of the DIFC, added: “The World Insurance Forum is a very significant event for the insurance industry. Being named as host for 2008 is therefore a great honour for the DIFC. Dubai and the Gulf in general are experiencing an increasing demand for insurance products, driven in part by the region’s massive investments in infrastructure spending, its introduction of compulsory health insurance and the rapid growth of Islamic or Takaful insurance offerings. We are sure that the WIF will find Dubai a vibrant and rewarding venue."

“In 2008 the Forum will make its debut outside Bermuda and we could not have chosen a more strategic venue than Dubai as it successfully positions itself as a ‘crossroad city’ where ‘East meets West’ and is beginning to emerge as a powerful regional and global financial centre,” commented World Insurance Forum Operating Committee Chairman, Robin Spencer-Arscott.

The World Insurance Forum is owned and operated by the Bermuda Insurance Symposium, a not for profit limited by guarantee Bermuda company. The Forum is managed by the World Insurance Forum Operating Committee and Whitfield Events.