17 June 2016Bermuda analysis

Partnering with a personal touch

Unique among international banks in terms of structure and size, Butterfield provides customised yet highly cost-effective banking and asset management solutions, and has been a steadfast partner of the insurance industry for more than 40 years.

Established in 1858 and headquartered in Bermuda, the Butterfield Group offers a wide range of financial services in The Bahamas, Bermuda, Cayman Islands, Guernsey, Switzerland and the UK.

Our success is built on a set of fundamental strengths: sound corporate values, a stable customer base, strong capital and liquidity positions and solid core businesses.

We provide customised products, dedicated relationship managers, multi-industry expertise and service excellence.

For captive insurance companies, we provide comprehensive cash management, treasury and investment services and full letter of credit capabilities to meet your specific needs.

Our corporate and institutional clients can benefit from Butterfield’s asset management, investment and pension fund administration, as well as our corporate trust services. Our complete corporate banking services include:

Responsive relationship banking

Butterfield carefully cultivates each customer relationship. Our commitment is to understand your business goals, then work closely with you to develop a strategic financial plan that improves your bottom line. You can be assured that our dedicated relationship managers are fully conversant with all facets of the captive insurance industry and its unique requirements.

Effective cash management

We offer call accounts, chequing accounts and fixed-term deposits (Certificates of Deposit) in a variety of international currencies. Additionally we manage the Butterfield Money Market Fund offering competitive returns and capital preservation.

Our International Money Transfer (IMT) service provides a streamlined flow of cash between the corporate entity, its parent organisation, related parties and its service providers. Through our extensive network of correspondent banks, we provide accounts in all major currencies. We can also supply corporate credit and debit cards, an efficient way of managing business expenses.


Secure Internet banking

Our online banking systems are secure, convenient browser-based interfaces that are simple to navigate. They offer multiple access points to view accounts, process transactions and export data to facilitate customised reporting.

Quality investment management

Our investment management division offers a range of investment products and services, including Butterfield Mutual Funds. Butterfield investment managers have many years of experience managing client assets. Located in key financial centres, they constantly assess the changing economic environment and develop strategies that meet your captive’s asset management needs.

Tailoring each portfolio to specified risk and return parameters, we offer full discretionary management and a range of mutual funds including money market, fixed income, equity and alternative investment strategies.

Letter of credit solutions

Butterfield offers customised and competitive letter of credit solutions to meet the requirements of the captive insurance industry. Our Letter of Credit product, developed in partnership with highly rated onshore financial institutions, is accepted by the National Association of Insurance Commissioners (NAIC) to secure obligations under insurance contracts.

Strategic treasury services

Butterfield’s treasury and capital markets group provides competitive fixed-term deposits, from overnight to periods beyond one year. Clients can access foreign exchange markets for immediate or future-dated conversions in all major currencies. Our treasury professionals help clients customise hedging strategies.

Reliable trust & custody services

Through our Trust division, captive insurance companies have the ability to hold investment portfolios in safe custody while purchasing and selling securities on all major markets. Our trust and custody services also encompass the processing of stock dividends, rights issues, corporate actions and income collection.

Contact one of our experienced relationship managers by visiting our website today and let us put our knowledge of the captive insurance industry to work for you.

Butterfield Trust (Bermuda) Limited is licensed to conduct trust business by the Bermuda Monetary Authority. Butterfield Asset Management Limited is licensed to conduct investment business by the Bermuda Monetary Authority. Butterfield Trust (Cayman) Limited is licensed to provide trust services by the Cayman Islands Monetary Authority. Butterfield Bank (Cayman) Limited is licensed to conduct securities investment business by the Cayman Islands Monetary Authority. This does not constitute an offer or solicitation of products or services where prohibited by law. Our investment products and services are not available in the United States of America.