Bermuda Captive Market Seeing Increased Captive Use, New Captive Uses

The Bermuda captive insurance market is reflecting the trend toward increased use of captives in the face of a hard commercial market, as well as greater consideration of captives as a vehicle for addressing difficult-to-insure exposures.

“Existing captives are either increasing their deductible limits or putting new lines of business through that they wouldn’t necessarily have done before because financially it wouldn’t have made sense, but with the hard market it does,” Oceana Yates, senior vice president—captives at Davies Captive Management, said recently during a 2022 Bermuda Captive Conference session titled “Emerging Uses of Captives in the Post-Pandemic Era.”

There also has been increased use of segregated cell structures, Ms. Yates said.

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