Webcasts promote captive insurance in Bermuda

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HAMILTON, Bermuda, Nov. 07, 2016 (GLOBE NEWSWIRE) — The benefit of Bermuda captive insurance companies for major corporations of all industries is the focus of a new series of webcasts produced by Bermuda Business Development Agency (BDA).

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/56af84cd-8971-48bf-8883-5feb75c0f976

Seven videos are being released over the next four weeks explaining what captives are and how they can be used as highly-effective self-insurance vehicles to cut costs and better manage risks. Among industry topics covered in the webcasts are: fronting, regulation, feasibility, Tax Information Exchange Agreements (TIEAs), governance, steps to incorporate, and why Bermuda is the world’s leading captive domicile.

“We’re always looking at new ways to keep our potential new business as well as our industry partners engaged and well-informed about Bermuda’s captive insurance solutions,” says Business Development Manager Jereme Ramsay. “The webcasts will highlight topics that companies should consider, along with top trends in the captive insurance space. The content is relevant for medium- to large North American entities that are exploring self-insurance as part of their risk-management programmes.”

Ramsay, who manages the risk-industry sector for BDA, says Bermuda continues to offer pragmatic, cost-effective solutions in its blue-chip jurisdiction—a message digital platforms such as webcasts, podcasts and webinars can take to global audiences. Over the last two years, BDA has received positive feedback for eight in-depth industry webinars on the same subject.

“We are constantly looking to leverage fresh methods and channels to showcase Bermuda’s top-tier industry talent to both new business and existing clients, and webcasts are an ideal way to do this,” he adds. “Our intellectual capital is our greatest asset and we’re proud to feature leading professionals on this initiative.”

Participants in the BDA webcasts are: Grainne Richmond, President of the Bermuda Insurance Management Association (BIMA); David Gibbons, Chairman of the Bermuda Captive Conference (BCC); Michael Parrish, SVP & Business Development Lead, Marsh IAS Management Services (Bermuda) Ltd; Oceana Yates, Vice President, Captives, R&Q Quest Management; Melissa Morton, Assistant Director of Licensing and Authorisations, Bermuda Monetary Authority (BMA); Sophia Greaves, Director, Conyers, Dill & Pearman; and Cyril Whitter, President of International Management Limited (IML).

The first video, now posted on the BDA’s website (http://bda.bm/webcasts/), features BIMA’s Richmond providing an overview of Bermuda’s advantages as a captive insurance domicile, including its respected regulatory environment, pool of industry talent, and access to one of the world’s largest reinsurance markets.

The webcasts provide a timely lead-up to a BDA business development roadshow on captive insurance slated for Toronto, Ontario later this month, as well as in regional US cities early next year.

CONNECTING BUSINESS

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 you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Our goal? To make doing business in Bermuda smooth and beneficial.

MEDIA CONTACT: Rosemary JonesCommunications Managerrosemary@bda.bm441 278-6558441 337-4696

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