Carmel Haynes, executive director, BIBA
21 March 2022

BIBA conference to hear about the value of Barbados captive industry

The second annual Barbados Risk & Insurance Management (BRIM) Conference opens today. Hosted by the BIBA, the association for global business, it will highlight the role of the captives industry on the island.

Those attending the conference at the Hilton Barbados Resort will hear about “the enormous value of Barbados’ expanding captive insurance industry, the potential for further growth, emerging insurance risks, key economic and regulatory developments and digital advancements in insurance”, according to BIBA executive director Carmel Haynes.

It opens with a presentation by Oliver Jordan, the new chairman of the Financial Services Commission (FSC), Barbados’ supra regulatory agency for the insurance and other financial sectors, mutual funds, securities, pension funds and the credit union sector. On Tuesday keynote speaker will be Daniel Towle, president of the Captive Insurance Companies Association and former director of financial services for the State of Vermont in the US.

Other presenters include Reya Ali-Dabydeen, partner and banking & insurance sector tax lead for Ernst & Young in Canada, on tax developments impacting captives; and Geneva-based international cybersecurity expert Niel Harper on mitigating the impact of cyber risks and ransomware attacks. Cyralene Benskin-Murray, general counsel for Barbados’ Financial Services Commission, will provide insight into the regulation of the Barbados insurance sector.

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23 February 2017   Brexit presents a significant opportunity for Gibraltar and the UK to develop their captive markets – as well as the protected cell company space – outside of the EU, according to Nigel Feetham, partner at law firm Hassans.
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EMEA analysis
2 August 2016   The viability of UK-based captives will be at risk if access to the EU is restricted in a post-Brexit world, the British Insurance Brokers’ Association (BIBA) has warned in a letter to senior government figures.