HAMILTON, Bermuda, Nov. 30, 2015 (GLOBE NEWSWIRE) — Latin American corporations that could benefit from establishing a captive insurance company in Bermuda are the focus of an upcoming webinar hosted by the Bermuda Business Development Agency (BDA).
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5734b657-5ce5-4a81-a315-99513b642497
The hour-long webinar, to be held noon–1 pm Bermuda/Atlantic Standard Time (GMT -4) next Monday, December 7, will be conducted entirely in Spanish and feature an expert panel discussing the regulatory, legal and tax issues, as well as the substantial benefits, of setting up a captive insurer in Bermuda—including risk management, asset protection, and efficient access to the global reinsurance market. The webinar is the fourth staged by the BDA this year; previous webcasts targeted Canadian, US and healthcare industry audiences.
“Our webinar will be geared to private corporations and multinationals in the Latin American region,” explains Jereme Ramsay, BDA Business Development Manager for the risk and LatAm sectors. Bermuda has become the first choice for LatAm captive setups, primarily from Mexico and Colombia. The Tax Information Exchange Agreements (TIEAs) we hold with several LatAm countries have been strong catalysts for this recent peak in interest across the region.”
Bermuda has TIEAs with Mexico, Colombia, Argentina and Brazil, while multilateral treaty signatories additionally include Chile. Bermuda is currently home to close to 300 companies from Latin America across multiple sectors. Notably, some of the largest companies from the region have formed captives and other investment vehicles on the Island, including Colombia’s Ecopetrol, Pacifico Rubiales, and the Carvajal Group.
“A large percentage of Latin American businesses would benefit enormously from creating a captive insurer in Bermuda, but many have not yet done so because the concept is relatively new in the region,” notes the webinar’s moderator, Federico Candiolo, Senior Counsel at ASW Law. “This webinar will make LatAm companies more aware of Bermuda’s captive solution, which has been successfully used for decades by North American and European markets.”
Registrants will receive online access to the live webinar followed by a question-and-answer session, and a post-webinar download of the presentation. Featured speakers with Candiolo are Andres Carmona of Marsh and Eduardo Fox of Appleby. Other professionals on hand to offer live commentary and answer questions during the webinar include: Giuliana Molero of PwC, Daniel Message of R&Q Quest, and Mike Woytowicz of Artex Risk Solutions (Bermuda).
ABOUT BERMUDA BUSINESS DEVELOPMENT AGENCY (BDA)
The BDA encourages direct investment and helps companies start up, re-locate or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect prospective companies to industry professionals, regulatory officials, and key contacts in the Bermuda government to facilitate domicile decisions. Our goal? To make doing business in Bermuda straightforward and beneficial.
MEDIA CONTACT:Rosemary JonesCommunications Managerrosemary@bda.bm441 278-6558441 337-4696