BMA exec chair to receive captive pioneer Fred Reiss award
Jeremy Cox, the executive chair of the Bermuda Monetary Authority (BMA), will receive the fourth Fred Reiss Lifetime Achievement Award at this month’s Bermuda Captive Conference on June 11.
Cox began his career as an auditor and later served as the Bermuda government’s Registrar of Companies. He joined the BMA in 2002 and was named CEO in 2010, leading the regulator as it achieved full equivalence with Europe’s Solvency II regime.
He was named executive chair in January this year and is responsible for all the BMA’s supervisory activities, not only of insurance but of banks, trust companies, investment businesses and the Board of Directors.
The Fred Reiss award was launched in 2016 and is named after the man credited with creating the first captive insurance company in 1962. Fred Reiss’ concept of “self-insurance” was first applied to American steel companies before being pursued in Bermuda.
Bermuda is the world’s largest jurisdiction for captives, hosting more than 700 captive insurance companies, supporting primarily Fortune 500 corporations in the US and generating $40bn in annual gross written premiums.
Previous winners of the Fred Reiss award include Jill Husbands, former chairman and managing director of Marsh IAS Management Services (Bermuda); corporate lawyer Michael Burns; and Brian Hall, former director and president of Johnson & Higgins.
Cox will present the keynote speech at the Bermuda Captive Conference on June 12, with around 800 delegates expected to be in attendance.