26 May 2016Bermuda analysis

Bermuda Captive Conference to host top industry execs

Premier Michael Dunkley will open the annual Bermuda Captive Conference next month, which will also feature a selection of top industry and regulatory leaders discussing global market trends and other hot topics.

More than 700 delegates are expected to attend, from both local and overseas markets, at the Fairmont Southampton Resort from June 13 to 15.

The conference is scheduled to include three days of moderated roundtables and panel discussions with sessions blending emerging topics of high interest like cyber risk, insurance-linked securities (ILS) and healthcare, to nuts-and-bolts sessions educating delegates on electronic filing and creating a captive insurer.

There will be a heightened focus on the role of reinsurance and the Bermuda market's beneficial access to its capital.

The event will begin with Dunkley delivering opening remarks on the Monday afternoon. He will also announce this year's inductees to the Bermuda Captive Hall of Fame, an honour awarded to companies that have committed at least 25 years to the island's market.

Some of the key figures participating in panels and roundtables over the conference include: Craig Swan, managing director, supervision, Bermuda Monetary Authority (BMA); Ross Webber; chief executive officer (CEO), Bermuda Business Development Agency (BDA); Patrick Tannock, president, XL Insurance (Bermuda); John Berger, chairman and CEO, Third Point Reinsurance; Jill Husbands, chair, Marsh IAS Bermuda; Joe Rego, president and CEO, Aon (Bermuda); Grainne Richmond, president of the Bermuda Insurance Management Association; and Alan Gier, global director of risk management & insurance at General Motors, and president of the Bermuda Captive Owners Association (BCOA).

Webber will speak in the conference's first roundtable, which is an overview of captive market and business trends worldwide, along with Swan, Husbands, Gier and Richmond, who will moderate.

"This year's conference promises to be bigger and better than ever, and I'm looking forward to joining colleagues and highlighting Bermuda's value for delegates from a jurisdictional point of view," said Webber. "We are in an era of increasing global regulatory pressure and politicised or misinformed beliefs about offshore financial centres, yet Bermuda's top-tier reputation and high levels of regulatory compliance serve to differentiate our market. Raising awareness is key."

Gier commented: "Properly managed captives are an important risk-management tool for any risk manager, and captive conferences offer the opportunity to stay current with the industry and learn from colleagues and business partners about key trends as you develop your captive strategy and business plan.”

"Bermuda should be on everyone's list of preferred captive domiciles owing to its excellent reputation for transparency, regulatory environment and ease of doing business. I am excited to be on a panel with leaders of the Bermuda business community and look forward to sharing my thoughts about current issues affecting the global economy."