Latest Network Updates

Membership Updates

Here you will find the latest Network updates for all Bermuda Captive Network members. Please check back regularly for the latest news and activity.

July 25, 2023 – Good Governance Tips for Captives Webinar

This webinar provides an overview of the core aspects of good governance for Bermuda non-commercial (captive) insurers. Things you will learn:

  • a refresher on board fiduciary duties,
  • an update on the board’s obligations under the recently revised Insurer Code of Conduct (effective Sept 2023) and the Insurance Act (including the role of the principal representative and the insurance manager),
  • a consideration of ongoing economic substance obligations, and
  • a look forward to the application of Bermuda’s new privacy legislation expected to come into effective in Jan 2025.

The focus is to highlight the key statutory and fiduciary requirements applicable to captives and to help strengthen governance and ensure the board is appropriately overseeing the operations of the captive and managing the service.

Feb 23 – Special General Meeting

The Network hosted its first SGM on Thursday February 23. The session included organisational and membership updates, as well as an outline of the key activities and focus for the Network across the next 6 months.

The SGM recording is available to all members.