Bermuda Captive Network consultant steps down

Andrew Vaucrosson is stepping down as a consultant to the Bermuda Captive Network now that it is on a solid footing after being founded last year.

Vaucrosson, a former executive at Zurich Insurance, has been a consultant for the BCN since it was founded in February, 2022 as a result of a merger of captive industry groups.

A statement from the BCN said: “During the past 18-month growth phase, BCN engaged with Andrew Vaucrosson as a consultant to help develop BCN’s operations and membership base.

“Through his efforts, the membership has grown to over 150 persons and entities and he has also helped to establish improved communication and enhanced member advocacy with key stakeholders such as the Bermuda Monetary Authority, the Registrar of Companies, the Bermuda Business Development Association, and other Government departments and ministries.

“He has also assisted with drafting press releases and statements for international media organizations to assist the BCN with promoting Bermuda as a world-class domicile in the global risk market.”

She added: “Now that we have established a good base of operations, we have mutually decided with Mr. Vaucrosson not to extend our consulting relationship so that he can pursue other opportunities.  Mr. Vaucrosson’s last day at BCN will be August 15.”

Grainne Richmond, director of BCN, said: “Mr Vaucrosson is a seasoned professional with an extensive management background and provided the necessary foundation for us to build a reliable and productive operation behind this new membership organisation.

“We are truly grateful for Mr Vaucrosson's contribution to the development of BCN and we are very confident that he’ll be just as successful with any other enterprise who decides to hire him.”

BCN also serves as a membership-focused organisation providing education, business development and effective representation for Bermuda’s captive and managed insurance industry.