We were delighted to be a part of this year’s Bermuda Captive Conference, held 10-13 September on, of course, the beautiful island of Bermuda – the world’s leading captive insurance domicile.
This year’s event was the 13th of its kind and the number of registrants, totalling more than 750 and having risen progressively since 2005, is endorsement enough of its relevance and benefits.
It’s certainly an important time in our calendar, being the one event of the year where all Bermuda Captive managers and service providers gather. Many captive owners also attend, combining the trip with board meetings – owners of note for this year included GM, Nike, Levis and Microsoft.
For us, the event provides a unique opportunity for us to talk in both a formal and informal manner to the industry, gain insight on the development of the captive market and add perspective and context to today’s financial trends.
Each year, the conference is packed with informative, insightful and entertaining sessions which gently steer participants to consider broader options to grow their captive business – this year followed suit.
The Premier of Bermuda and Conference Chairman, the Hon David Burt, officially opened proceedings and welcomed delegates. His session, and the conference at large, showcased the strengths of Bermuda – which has long stood as a symbol of excellence to corporations around the world, and plays a central role in the global insurance sphere.
Whilst Bermuda faces the challenges of many competing captive domiciles – particularly the US – it maintains the largest concentration of the biggest captives globally. This is because Bermuda offers the complete package of captives, commercial insurers and professional support.
Of course, the recent and devastating Atlantic hurricanes spurred discussion and further highlighted the value of the industry through billions of dollars of claim payments, which allowed communities and businesses to begin recovering and rebuilding in the wake of catastrophic events.
Tuesday lunchtime saw an entertaining presentation from Keynote Speaker, Philippe Max Rouja PHD, Principal Scientist – Marine Heritage and Ocean Human Health, Bermuda Government, which centred on Bermuda shipwrecks. Weaving folklore and facts of Bermuda’s past, plus demonstrations of 3D underwater videography, the talk was most enjoyable.
But Wednesday, the closing day of the conference, was our busiest with two of my colleagues invited to speak on industry expert panels.
Peter Downey, Corporate Investments, joined the panel for ‘Investments – an insight into innovation and trends with a global perspective on market developments, institutional responses, client requirements and risk appetite’, which made for an insightful and well-received session.
Shortly afterwards ‘The Economists view – G7/G20, Davos, Basel III, Brexit, NAFTA, Global Political Stability/Instability – What happens next?’ was delivered by Henk Potts, Director of Global Strategy at Barclays, with Ryan Wang of HSBC Securities, and was noted as a highlight of the conference.
Bringing the event to a close, we were proud to sponsor a fantastic closing party on the beach. The fun-filled evening included a cocktail reception, dinner, dancing and fireworks, and was the perfect ending to a thoroughly enjoyable event.
On behalf of the team, I can say we very much enjoyed this year’s conference and look forward to be being back in 2018.