4 September 2017Analysis

Bermuda Premier reinforces commitment to captives ahead of conference

Bermuda Premier David Burt will open the upcoming Bermuda Captive Conference this year, held at the Fairmont Southampton Resort in Bermuda on September 10-13.

Burt will accompany Economic Development Minister Jamahl Simmons in welcoming conferences attendees at the Fairmont Southampton on Monday September 11.

“The government of Bermuda is dedicated to helping maintain a dynamic Bermuda captive market, and we are pleased to support one of the greatest international business conferences on the captive insurance calendar,” said Premier Burt. “The attendees will find the conference to be an engaging experience of learning and opportunity, and I look forward to participating.”

The Bermuda Development Association (BDA) has described the conference, now in its 13th year, as Bermuda's largest international business event.

Burt will also present the annual Fred Reiss Lifetime Achievement Award and announce this year's inductees to the Bermuda Captive Hall of Fame, an honour awarded to companies that have committed at least 25 years to the island’s market. Minister Simmons will later join industry leaders in an introductory session on trends and innovation.

Conference chair David Gibbons added: “The response so far means we have more overseas delegates than ever before, more captive owners and risk managers, more representatives from either existing captives or companies looking to set up captives—and they’re staying on the island longer."

Gibbons suggested that while most attendees are travelling from the United States, delegates have also registered from the UK, Canada, Latin America and Europe. Countries represented include Argentina, Aruba, Belgium, Canada, Colombia, France, Germany, Ireland, Japan, Mexico, the Netherlands, the UK and US.

According the BDA, the three-day agenda features a mix of moderated panels and roundtables focusing on hot topics like insurtech, cyber-risk, employee benefits, claims handling, and investment strategies. Bermuda is the top global captive jurisdiction, home to close to 800 captive insurance companies supporting primarily Fortune 500 corporations in the US and generating over $55 billion in annual gross written premiums.