17 June 2019Analysis

Bermuda seeks opportunities in Canada

Bermuda will this week send a delegation of government, regulatory and industry representatives to Toronto, Canada, to strengthen ties between the two countries and explore new opportunities for bilateral trade and investment.

The delegation, led by Bermuda Finance Minister Curtis Dickinson, will take part in a one-day multi-industry forum hosted by the Bermuda Business Development Agency (BDA) on June 19.

The two countries are sure to discuss opportunities for Canadian companies to establish captives in Bermuda. Last week Jereme Ramsay, business development manager for risk solutions at the BDA, told attendees at the Bermuda Captive Conference there is a healthy pipeline of Canadian companies considering establishing Bermudan captives. Two were formed by Canadian companies last year and more are expected this year, he said.

Among the Canadian captives being formed in Bermuda could be the first to manage cannabis-related risks, with the drug having been legalised in Canada.

Ramsay said: “Bermuda has always been renowned for innovation and I think once we get one over the line it will set a precedent for others to follow. Many of the big captive managers are looking at this and it is only a matter of time before a deal gets done.”


More on this story

ILS
4 April 2022   He takes a job with fintech group SS&C Technologies.
Analysis
10 December 2019   KPMG has hired Jereme Ramsay as senior manager, markets, focusing on business development and marketing in Bermuda. He will take up his post in February and will support its growth strategy, spending around 60 percent of his time working with Bermuda’s insurance industry, including its captives.
Analysis
12 June 2019   Bermuda expects more captive formations from Canadian companies in the coming years, as several years of building relationships in that market come to fruition. That is according to Jereme Ramsay, business development manager (risk solutions) at the Bermuda Business Development Agency (BDA).

More on this story

ILS
4 April 2022   He takes a job with fintech group SS&C Technologies.
Analysis
10 December 2019   KPMG has hired Jereme Ramsay as senior manager, markets, focusing on business development and marketing in Bermuda. He will take up his post in February and will support its growth strategy, spending around 60 percent of his time working with Bermuda’s insurance industry, including its captives.
Analysis
12 June 2019   Bermuda expects more captive formations from Canadian companies in the coming years, as several years of building relationships in that market come to fruition. That is according to Jereme Ramsay, business development manager (risk solutions) at the Bermuda Business Development Agency (BDA).