Championing a Unified Voice for Bermuda’s Captive Industry
The Advocacy Pillar of the Bermuda Captive Network serves as the collective voice of Bermuda’s captive insurance sector, ensuring that members are represented, informed, and supported in navigating regulatory and policy developments.
Strengthening industry alignment through collaboration, engagement, and influence
Through continuous engagement with the Bermuda Monetary Authority (BMA), government stakeholders, and international regulatory bodies, the Advocacy Pillar works to safeguard Bermuda’s reputation as the world’s leading captive domicile — one that remains agile, compliant, and forward-looking.
Our Purpose
The Advocacy Pillar Committee exists to provide members with:
- A unified voice with the regulator: representing the shared interests of the captive industry in dialogue with the Bermuda Monetary Authority and policymakers
- Policy influence and advocacy: shaping discussions on evolving legislation, standards, and regulatory frameworks
- Regulatory engagement and transparency: fostering open communication between the industry and the regulator to build trust and clarity
- Alignment with international standards: monitoring global developments to ensure Bermuda maintains its leading position as a well-regulated jurisdiction
- Education and knowledge sharing: translating regulatory updates into practical guidance for members
- A problem-solving platform: facilitating discussion and collaboration to identify solutions to emerging industry challenges
Member Resources & Updates
This members-only area provides regular updates, insights, and opportunities for engagement with ongoing advocacy efforts:
Regulatory Engagement
Timely summaries of consultations, regulatory changes, and industry responses.
BMA Consultation Paper: Enhanced Captive Reporting Standards
IAIS Global Developments
Industry Feedback Summary
Featured Initiatives
Highlighting current areas of advocacy focus:
BMA–BCN Liaison Group Strengthening direct dialogue between industry and regulator.
Captive Market Positioning
Ensuring Bermuda remains competitive and aligned with international best practices.
Industry Consultations
Coordinating member input into evolving frameworks and standards.
Your Involvement
Members are encouraged to contribute expertise and perspectives to strengthen our unified advocacy efforts.
Join working groups and consultation roundtables
Submit feedback on proposed policy changes
Participate in member surveys and focus sessions
Quarterly Reports
Stay informed with quarterly activity summaries highlighting outreach programmes, partnerships, and talent development initiatives.
Membership News
KPMG in Bermuda and Bermuda Captive Network launch Captive Scholarship
KPMG in Bermuda and the Bermuda Captive Network (BCN) proudly announce a new Captive Scholarship, the latest addition to KPMG’s scholarship awards. This scholarship, valued at $30,000, aims to develop Bermudian talent specifically for the captive insurance industry—a vital sector where Bermuda is globally renowned as a leading domicile. With a recognised shortage of skilled…
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BCN Talent Gap Baseline Survey
Bermuda Captive Network is working on creating an Internship Framework – Tool Kit that will involve collaboration with both Bermuda College, BFIS and several Risk Management Programs at various Colleges in the US / Canada and Europe. Please click on this LINK to take this survey which has been designed using the Survey Monkey tool. …
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Andrew Vaucrosson’s consulting period with BCN comes to an end.
Formed in February 2022, The Bermuda Captive Network (BCN) emerged from the synthesis of the former Bermuda Insurance Management Association, the Bermuda Captive Owners Association and the Bermuda Captive Conference and serves as a membership-focused organization providing education, business development and effective representation for Bermuda’s captive and managed insurance industry. During the past 18-month growth…
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“Captive Sustainable Solutions”, article appears in the 2023-24 Bermuda Business Review magazine.
The Bermuda Business Review 2023 ~ 2024 − published by the Times Group in association with the Bermuda Business Development Agency (BDA) and launched at the 2023 Bermuda Climate Summit – provides insights into the ongoing transformation of Bermuda’s business landscape focused on the key pillars underpinning its highly successful international business activities. The Review…
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BCIB report states how captive companies have continued to outperform their U.S. commercial casualty peers
A new report has delivered further evidence of the efficacy of captive insurance, outlining how their use in Bermuda and two Caribbean countries saved their corporate owners demonstrably on insurance costs, when compared to use of commercial insurance. They delivered far better underwriting results and return on revenue, according to the report published by AM…
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Q&A: The key role of captives in ESG commitments
Zurich NA on how captives can play a role in executing environmental, social and governance initiatives. As environmental, social and governance (ESG) initiatives have moved up the agenda at many companies, there’s growing interest in whether captives can play a role in successfully executing on those objectives. We sat down with Adriana Scherzinger, head of…
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Celebrating 60 years of innovations by Bermuda’s captives’ sector
This digital presentation by Captive International showcases why Bermuda is an established premiere jurisdiction for captive management. Go to link to view: Cover – 60 Years of Captives in Bermuda (foleon.com)
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Captives as an ESG tool
Captives can be used to address environmental, social and corporate governance (ESG) issues in the insurance market. The final session of the 2022 Bermuda Captive Conference was a panel moderated by Séadna Kirwan, risk advisory director, Aon Bermuda and which included Sherman Taylor, head of capital markets, Bermuda, at Ocorian; Maura McGuigan, director of…
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Captives still face LatAm barriers
Latin America remains an emerging area for the captive insurance market, attendees heard at the Bermuda Captive Conference. A panel discussion at the conference pointed out that Latin America is a small but growing area of the market at the moment. Latin America makes up 7% of global GDP, with growth of 4.3% over the…
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