20 June 2016Bermuda analysis

BCC adds 16 more captives to hall of fame

The Bermuda Captive Conference has added 16 new captives to the Bermuda captive hall of fame during its 2016 conference last week.

Established in 2015, the hall of fame recognises captive insurers in classes 1, 2, 3, A or B that have been in existence for 25 years or more on Bermuda.

New inductees were: ABS Insurance, Adhealth, Beacon Insurance Company, Glendale Insurance Company, Hartford HealthCare Indemnity Services, IAT Reinsurance Company, Kitty Hawk Insurance Company, KM International Insurance, MLA Non-Profit Boat Protection Cooperative, Mutual Insurance Company, Omega Indemnity (Bermuda), Peninsula Insurance Co, Pleiades Insurance Company, Professional Agencies Reinsurance, RI Sound Enterprises Insurance Co and River City Insurance.

Speaking to Captive International last year, Stewart Ritchie, director of assurance at PwC and chair of the BCC’s marketing subcommittee, explained that the captives are being honoured for their support of the Bermudian economy.

“The idea of a hall of fame for captives was the brainchild of the BCC’s sub-committee three years ago. We were looking to find a way of recognising the companies that operate in Bermuda and have done for quite some time,” he said. “When I took over the role of chair, it was definitely a priority to put this idea into practice.”