The Bermuda Captive Conference (BCC) went ahead as a virtual event for the second successive year on June 14 and 15, but organisers said it will be back to a physical event in 2022.
BCC was forced to go ahead virtually due to travel restrictions related to COVID-19. The event was well received, drawing attendance from over 800 guests from over 33 countries and 6 continents, according to the event’s organisers. Delegates included captive insurance owners, risk managers, brokers, captive managers, service providers, sponsors and vendors.
The event will next be held from June 13-15, 2022.
This year’s event addressed a number of themes relevant to the captive industry, including the hardening insurance market, the impact COVID-19 has had on the market, regulatory updates and the relevance of environmental, social and governance (ESG) strategies.
David Gibbons, BCC conference committee member and captive and assurance leader at PwC Bermuda, said: “With the reinsurance market hardening and the increased demand for bespoke cover, the captive industry is at a growth point which we haven't seen for quite some time. We are seeing laser focus on risk management and mitigation (as a mechanism to manage and reduce costs) at the c-suite and board levels. Pressure is coming down from the top of the company to implement a captive solution within the group structure where in the past it would have been the chief risk officer trying to sell the idea to them.”
Bermuda Captive Conference, PWC, David Gibbons