The Bermuda Business Development Agency (BDA) is set to join with industry partners to host a webinar spotlighting the advantages to US corporations of setting up a captive insurance company in Bermuda.
The hour-long webinar, to broadcast on 30 June, will highlight the regulatory, legal and tax issues as well as the benefits of establishing a Bermuda captive—including risk management, asset protection, and efficient access to the global reinsurance market via Bermuda-based companies.
"This is our second BDA webinar, following a successful debut we hosted earlier this year," said BDA business development manager Jereme Ramsay.
"Our focus is US businesses that could benefit from setting up a Bermuda captive insurance company, including those in the growing healthcare sphere. We thank our industry colleagues for sharing their expertise to heighten the visibility of Bermuda's thriving captive insurance business."
The healthcare industry—which will be the sole focus of a third BDA webinar in September—is a growing sector in Bermuda's captive insurance field, driven by rapidly changing regulation and the need for coverage capacity.
According to the BDA, Bermuda captives and insurance carriers support a quarter of the US medical insurance and reinsurance market.
Registrants will receive online access to the live webinar of speaker presentations followed by a question-and-answer session.
Featured speakers are: Rochelle Simons, of the Bermuda Captive Owners Association; Butch Agnew, vice president of Dyna Management Services; Joe DaSilveira, senior vice president of Liberty Mutual Management (Bermuda); Leslie Robinson, assistant director of corporate authorisations for the Bermuda Monetary Authority; and William McCallum, managing director of tax at KPMG Bermuda.
"We have an excellent panel of experts lined up for this event," commented Simons.
"We intend for it to be informative and useful to any executives who may be considering setting up a captive insurance company, and offer details on why Bermuda can best suit their needs."
