Bermuda Targets US Corporations With Webinar

The Bermuda Business Development Agency [BDA] is teaming with industry partners to host a webinar next week spotlighting the advantages to US corporations of setting up a captive insurance company in Bermuda.

[From left] Rochelle Simons, of BCOA; Butch Agnew of Dyna Management Services; Joe DaSilveira of Liberty Mutual Management Bermuda and Leslie Robinson of the BMA. [Missing from picture: William McCallum, of KPMG Bermuda]

The hour-long webinar, to broadcast at 12 pm [Bermuda/Atlantic Standard Time] Tuesday, June 30, will highlight the regulatory, legal and tax issues as well as the substantial 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. Bermuda captives and insurance carriers support a quarter of the US medical insurance and reinsurance market.

The BDA webinar guides registrants through the basics of what a captive is—a vehicle to finance the risk of its owners—as well as the captive regulation process and tax benefit details. 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 [BCOA], who will moderate the discussion; Butch Agnew, Vice President, Dyna Management Services Ltd.; Joe DaSilveira, Senior Vice President, Liberty Mutual Management [Bermuda] Ltd.; Leslie Robinson, Assistant Director, Corporate Authorisations for the Bermuda Monetary Authority; and William McCallum, Managing Director, Tax, at KPMG Bermuda.

“We have an excellent panel of experts lined up for this event,” says the BCOA’s 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.”

Questions during the session can be emailed to info@bda.bm or tweeted to @investBermuda #BDAcaptive. The webinar will be available for download upon request afterwards. To sign up for the “Bermuda Captive Insurance” webinar, click here.

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