Innovative. Impactful. Inclusive.

The Bermuda Captive Network is a membership-focused organisation providing education, business development and effective representation for Bermuda's captive and managed insurance industry.

 

Representing all aspects and demographics of the Bermuda captive industry, the Network reflects the innovation, energy and collaborative approach of this growing market, while continuing to promote Bermuda as a world-class domicile in the global risk market.

 

VISION

Internationally recognised as an independent association providing focus, value and effective representation for Bermuda's captive and managed insurance industry, while successfully promoting Bermuda as a world-class domicile.

MISSION

To influence and be at the forefront of innovation and growth in the captive and managed insurance industry, while supporting our members' business development and interests.

VALUES

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Member-focus

We place our members' needs and interests at the forefront of everything we do

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Collaboration

We listen to and support each other in the pursuit of common benefits and goals

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Innovation

We strive to promote cutting-edge solutions in the global marketplace

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Education

We share knowledge and promote a learning environment for our members and other stakeholders

ABOUT THE NETWORK

Emerging from the synthesis of three prominent and established organisations, the Bermuda Insurance Managers Association, Bermuda Captive Owners Association and the Bermuda Captive Conference, this new solutions-driven organisation continues to promote Bermuda as a world-class domicile in the global risk market.

 

The Network's strategic priorities focus on growing its international presence, delivering an expansion of resources, adding value to members and other stakeholders through events, forums, consultation, data and analytics, as well as promoting the development of a more diversified membership. The Network will also offer enhanced advocacy, leading and evaluating changes in Bermuda's legislative and policy landscape with one voice, to ensure the interests of Bermuda and its stakeholders are represented.

 

The Bermuda Captive Network exists to serve the interests of its members and valued stakeholders by:

Representing all aspects and demographics of the Bermuda captive industry

Reflecting the collaborative approach of the Bermuda captive market

Reinforcing the innovation and energy of this growing market via its comprehensive membership portal

OUR FORMATION

March 2021

Merger Feasibility Study Conducted

Pwc commissioned to determine potential for merging BCC, BCOA, BIMA; create "one voice" for Bermuda Captive Industry

March 2021

May 2021

Feasibility Study Report

Encouraging opportunities and recommendations for moving forward with the merger, based on feedback from a range of industry stakeholders

May 2021

Sept/Oct 2021

Merger Strategy Development

Designated leadership from the current three organizations ("Strategy Team") developed merger strategy and plan, facilitated by Objective Consulting

Sept/Oct 2021

Nov 2021

Merger Strategy & Action Plan Implementation Begins

Strategy sets out the new entity's purpose, leadership profile, intended value to members and four strategic goals; implementation timeframe: 2021-2024

Nov 2021

Bermuda is the largest global hub of captive insurance

Bermuda is the world's largest captive domicile with over 700 active captive insurers on its roster. Celebrating 60 years since the set up of the first captive in 1962, Bermuda continues to be a global leader in the captive insurance space, earning international recognition as the world's risk capital as a global leader in insurance and reinsurance products.

Bermuda is the largest global hub of captive insurance

Bermuda is the world's largest captive domicile with over 700 active captive insurers on its roster. Celebrating 60 years since the set up of the first captive in 1962, Bermuda continues to be a global leader in the captive insurance space, earning international recognition as the world's risk capital as a global leader in insurance and reinsurance products.

Bermuda: A Market Leader

Bermuda's excellence in global risk management solutions continues to make the island a jurisdiction of choice for traditional insurance, reinsurance and captive insurance solutions, as well as alternative structures. The Bermuda market is well-supported by service providers that include legal and accountancy, brokers, insurance managers and domiciled captive owners, making it a compelling jurisdiction and one-stop-shop for captive insurance solutions.

Bermuda is also home to a corporate and regulatory culture that has fostered exceptional innovation, along with a business-friendly approach. Its industry-leading insurers and reinsurers stand ready to help captive insurers understand the market and the opportunities it provides. With US-Qualified Jurisdiction Status and full equivalency under Solvency II, Bermuda is the domicile of choice for captive owners.

$bn
Annual Gross Written Premiums
+
Captive Insurance Companies
+
New Captives in 2021

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STRATEGY TEAM

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Tom McMahon

Executive Vice President

Davies Captive Management

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Leslie Robinson

Senior Vice-President - Head of Underwriting & Claims

Willis Towers Watson Management (Bermuda)

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Grainne Richmond

Executive Vice President – Head of Captives

Aon (Bermuda)

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Nicola Hallett

Director of Captive & Commercial Insurance

Artex Risk Solutions

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Scott Reynolds

President & CEO

American Hardware & Lumber Insurance

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Robert Paton

Director of Advisory Services

Details Management

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William Wood

Senior Vice President

Price Forbes & Partners (Bermuda) Ltd