5 February 2015Bermuda analysis

Bermuda looks forward to Q1 captive growth

Bermuda is set to register over 20 captives and commercial insurers in the first quarter of 2015, on the back of a strong 2014.

In 2014, Bermuda registered 16 new captives, which Shelby Weldon, director, licensing and authorisations, at the Bermuda Monetary Authority (BMA) described as moderate growth.

Interestingly, two new insurers from Latin America and two captives from Canada were amongst the new registrants in 2014.

Weldon said: “The authority is pleased to see the recent initiatives championed by the Bermuda Business Development Agency (BDA) in these two geographical regions translate into new registrations. The authority remains supportive of the BDA and will continue to assist with their efforts to attract new business to the jurisdiction.”