2016 Bermuda Captive Conference Underway
Yesterday, at the Fairmont Southampton Premier Michael Dunkley formally welcomed attendees at the 2016 Bermuda Captive Conference.
The Premier said each June, Bermuda looks forward to hosting the event as it has proven to be a “staple on the calendar of required captive insurance events”.
Premier Dunkley addressing the Bermuda Captive Conference
This year’s Captive Conference saw significant participation, with close to 800 attending the event.
In welcoming the group of industry professionals, Premier Dunkley thanked new Chairman David Gibbons, the Business Development Agency and the organizing committee for their hard work and dedication in ensuring the event’s success year after year.
The Premier being interviewed by AM Best
And to the visiting clients, the Premier said, “You’ll already know that you are doing business with the finest captive professionals in the world – not just the excellent captive and insurance managers, but also the accountants, lawyers, bankers, brokers and other individuals who make up our industry.
“Our leading insurance professionals are known for their innovation and exceptional service, and you can be assured that you are part of a vibrant Bermuda market. We have globally respected risk-based regulation with an accessible and proactive regulator.
Conducting a walk through the Captive Conference exhibition hall
“We are not just the number one captive insurance domicile, but we are also known for the strength of our reinsurance markets. And we may be only 21 square miles, but we are one of the top-three insurance and reinsurance centers in the world, alongside London and New York,” the Premier added.
The Premier recounted his recent representation of Bermuda at the New York Recovery & Resilience Leadership Forum and he pointed out that Bermuda’s reputation as a first class business jurisdiction is held in high regard.
Presenting the Hall of Fame Awards
The Premier said, “I had the distinguished opportunity to share with leading industry experts in finance, insurance and disaster relief, Bermuda’s significant contribution to the global insurance and re-insurance market.
“Following my presentation, I was extremely heartened by the feedback and the high esteem in which Bermuda is held in. Quite simply, industry leaders know and respect Bermuda.
Meeting with industry professionals
“We are a top-tier international financial centre thanks to the major companies who make their home here. These include some of the world’s largest reinsurers—the companies that insure the insurance companies.
“And over the past 15 years, Bermuda’s insurers and reinsurers have paid an estimated 35-billion-dollars for US catastrophe losses alone. We’re proud to play our role in supporting global communities. We’re proud of our blue-chip jurisdiction—a place where people with world-class talent work for innovative companies that are fulfilling a critical role in the worldwide economy.”
As he closed out his welcome, the Premier took the opportunity to highlight Bermuda’s Solvency II success and the Island’s hosting of the America’s Cup next year. And he encouraged those in attendance to include the 2017 America’s Cup on their calendar of events.
Following his remarks, the Premier joined Bermuda Captive Conference Chairman David Gibbons in presenting the Bermuda Captive Hall of Fame awards to outstanding local industry leaders.
Guy ain’t never seen a camera he didn’t like.
Meanwhile people getting robbed, stabbed and shot.