Video: BMA Executive On Captives
The Bermuda Monetary Authority’s Shelby Weldon discussed increasing competition for captive insurance business from on-shore US jurisdictions at a recent Chicago conference.
He was interviewed by a journalist from the publication “Captive Review” which organised the Mid-West event.
Speaking at the “Captive Live USA” Insurance Conference and Exibition held in September, Mr. Weldon said Bermuda welcomed competition in the captive insurance field.
Director of insurance/licensing and authorisation at the BMA, Mr. Weldon said the island remains a global leader when it comes to the formation of captive insurance companies.
He added that since the onset of the world economic downturn in 2008 Bermuda had been compelled to become more innovative in order to attract new business.
The BMA director was part of a Business Bermuda delegation which exhibited at Captive Live USA 2011. The conference garnered substantial support from industry executives from Bermuda, Europe and the US.
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