The Bermuda Business Development Agency is to put the spotlight on the island’s role as the world’s leading captive domicile at next week’s 2021 Virtual Business Insurance World Captive Forum.

The BDA is both a platinum sponsor and participant in the event, which runs next Wednesday and Thursday, and will facilitate meetings for those interested in knowing more about the jurisdiction via a virtual booth as well as hosting two live breakout sessions on how to set up a captive in Bermuda.

The organisation said the forum is a prestigious annual event providing in-depth, thought-provoking and informative content to risk managers, benefit managers and financial executives whose organisations have risks insured by a captive or who are exploring the formation of one.

Celebrating its 30th anniversary this year, the meeting will bring together leading providers of captive services, including captive management, legal, accounting, actuarial, claims, asset management and fronting, as well as regulators and representatives from global markets.

Jasmine DeSilva, business development manager for risk and insurance solutions at the BDA, said: “The captive insurance industry was born, raised and perfected in Bermuda – and we continue to build on that history of success as the market evolves.”

She added: “Despite the challenges presented by the global pandemic and the impact it had on the business decision-making process, figures from the Bermuda Monetary Authority show a number of new captives registered in 2020, and gross written premiums held firm at approximately $40 billion. For those interested in utilising captives as a key risk management tool, there is no better place than Bermuda.”

Speakers at the event include a number of industry leaders from Bermuda, including Timae Flood of the BMA; Nick Dove, chairman of R&Q Captive Management; Nick Frost, president of Davies Captive Management Ltd; Michael Woodroffe, president, Kirkway International Ltd; Lisa Willitts, owner, Captive Advisory Partners LLC; and Eduardo Fox, consultant – Corporate, Private Client, and Trusts and Latin America at Appleby.

Registration for the event closes on Friday at https://www.businessinsurance.com/conference/20wcf/2021/register. Registrants seeking to schedule a meeting during the event are advised to contact Ms DeSilva at jasmine@bda.bm.