Bermuda welcomes captive delegates back

The Bermuda Captive Conference has been formally opened, with government ministers and other officials welcoming delegates back to the first in-person conference since before the COVID-19 pandemic.

The pandemic had led to the 2020 and 2021 Bermuda Captive Conference conferences being virtual.

The Premier of Bermuda David Burt was unable to attend the event, but had recorded a brief message welcoming attendees to the conference and encouraging delegates to return to Bermuda in future. He added that Bermuda is proud to be such a major hub for insurance and indeed a leader in the captive industry.

Minister of Economy and Labour Jason Haywood also welcomed delegates back to the in-person sessions at the conference.

Haywood stressed that the government wanted the conference to help keep Bermuda at the forefront of the captive market. He said the captive market highlighted that innovation and growth need to be promoted and praised the market as being resilient through the turmoil of recent years.

The Minister added that the Bermudian government wants the Island to remain a leader in the captive market and highlighted the pragmatic regulation that has assisted in Bermuda’s current leading role. Bermuda is the best place in the world to place your captive as a domicile, Haywood said.

Leslie Robinson, senior vice president head of underwriting and claims at WTW, also announced that the new Bermuda Captive Network was now officially up and running, with the formal opening of its website.

The Bermuda Captive Network will provide education and advocacy for the captives sector and is the result of a collaboration between existing groups on the island: The Bermuda Insurance Management Association, Bermuda Captive Owners Association and the Bermuda Captive Conference.