The 2018 Bermuda Captive Conference has been hailed by organisers and delegates as an impressive showcase of diversity and innovation that attracted more captive owners and risk managers than ever before in the industry event’s 14-year history.
The three-day conference registered over 800 attendees from the United States, Canada, Latin America, and the United Kingdom, as well as Bermuda. Participants included captive insurance managers, brokers and service-providers, plus more owners of captive insurance companies and corporate risk managers seeking captives than in previous years—a boost to both the event and the Bermuda market.
“Our 2018 programme has been very strong and sessions have been attractive to captive owners, in particular, who are our key audience,” said conference chair Mike Parrish. “The feedback so far has been uniformly positive, and we’ll continue to solicit opinions to enhance what we offer next year to make sure our event stays relevant.”
Alan Gier, GM’s global director for corporate risk management and past-president of the Bermuda Captive Owners Association (BCOA) said increasing numbers of captive owners and risk managers were a tribute to the evolution of the conference. “I’ve seen some Fortune 500 companies attending this time—a major defence company and a pharmaceutical company, for example. So, Bermuda is definitely of interest to large corporations setting up new captives or becoming more involved with their existing captives. It foretells a good future for this industry on the island.”
Moderated panels and roundtables this year focused on hot topics like insurtech, cyber-risk, climate change, investment strategies and healthcare liability, as well as the industry’s growing diversity around risk types, products and talent. Diversity was a central theme throughout the 2018 programme, reflected in speakers, sessions and related community outreach initiatives.
Deputy Premier Walter Roban officially opened the conference, welcoming delegates and saluting the Bermuda market as “a growing phenomenon to an increasingly wider segment of the world’s business community.” Strong delegate numbers “mean more corporations seeking solutions to their risk management needs are learning of Bermuda market opportunities,” he said.
The conference also celebrated this year’s inductees to the Bermuda Captive Hall of Fame, an honour awarded to companies committing at least 25 years to the island’s market. The list of 1993 incorporations included: GIG Reinsurance Company, XPO Bermuda Captive, Tyson International Company, Traders Insurance, Griffin Insurance Co, VMC Indemnity Company, Windsor Insurance Company, Pennsylvania Manufacturers’ International Insurance, Comerica Assurance, ICW, and Surrey Reinsurance Company.
“This year’s event has been hugely successful—it’s now reached a benchmark of maturity but is also keeping highly innovative and interactive,” said conference organiser Rhona Emmerson of AAC Saatchi & Saatchi. “This year we introduced an app offering delegates easier ways to connect, as well as live polling during industry sessions. Our sponsors stepped up with engaging offers. And more than ever before, we’ve seen a truly diverse group of attendees and real engagement with the greater community.”
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