Nearly two-thirds of all Latin America-owned captives in the world are being formed in Bermuda.
This is according to Eduardo Fox, Bermuda Business Development Agency’s (BDA) Latin America committee head, ALARYS director, and LatAm global manager at Appleby.
“Its importance to the rest of our market is supported by the fact that 2013 alone saw nearly a third of all newly-formed captives in Bermuda having a LatAm parent,” he said.
Bermuda has been selected to host ALARYS 2016, a biennial conference for risk managers from countries throughout Latin America.
This is the third time Bermuda has been chosen as the host country for the Asociación Latinoamericana de Administradores de Riesgos y Seguros (ALARYS) conference.
“Hundreds of delegates from Latin America and the Iberian Peninsula, as well as investors, brokers and administrators with interest in the region from as far away as the Far East, will travel to Bermuda for this event. It’s good for the Island, good for our captive industry, and good for the jurisdiction as a whole,” said Fox.