Insurance Business Bermuda captive insurance experts visit Canada

Bermuda captive insurance experts visit Canada A group of industry experts, led by the Bermuda Business Development Agency (BDA), will visit Canada this week to promote Bermuda’s captive insurance market.

The BDA will hold an executive forum on Bermuda Captive Insurance Solutions from May 08 to 09, in Vancouver. The event hopes to attract and give insurance buyers, risk managers, and financial executives an opportunity to learn more about the captive benefits Bermuda provides.

Bernews.com also reported that the BDA will visit Toronto on May 11-12 to meet with industry service providers.

“This initiative is part of BDA’s ongoing effort to pro-actively raise awareness about Bermuda’s sophisticated captive insurance market,” BDA Business Development Coordinator Mark Darko said.

“We’re looking forward to hosting our first-ever forum in Vancouver, as well as revisiting established contacts in Toronto. Trends indicate that not only larger corporations, but also medium-sized businesses, are benefiting from self-insurance.”

“I’m pleased to be endorsing insurance captives as commanding vehicles for comprehensive risk coverage and financial proficiency for businesses,” added Richard Daley, president of JLT Insurance Management Bermuda and one of the speakers of the roadshow. “We’ll be highlighting Bermuda as the leading domicile of choice within captive insurance services and I am confident that our industry professionals will provide profound market knowledge to this event.”

Bermuda has close to 800 captive insurance companies generating over $55 billion in annual gross written premiums.

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