A major conference for the captive insurance industry has been hailed a success.

The three-day Bermuda Captive Conference, which attracted a record-breaking number of more than 800 delegates, ended yesterday.

Conference chairman David Gibbons said: “From the number of attendees, the number of companies represented, the number of business meetings that took place and the strength of both the social events and educational sessions, we have received nothing but positive feedback.

“It’s evidence of renewed growth in our sector and it sets us up very well for next year’s event.”

More than half the audience at the conference, held at the Fairmont Southampton, came from the US, Canada, Latin America and Britain.

A total of 147 captive insurance owners, 70 sponsors and 49 vendors were represented at the event.

Michael Dunkley, the Premier, opened the conference and told attendees: “You already know that you are doing business with the finest captive professionals in the world — not just the excellent captive and insurance managers, but also the accountants, lawyers, bankers, brokers and other individuals who make up our industry.

“Our leading insurance professionals are known for their innovation and exceptional service and you can be assured that you are part of a vibrant Bermuda market.”

The island is the top global captive jurisdiction, with nearly 800 captive insurance companies which support mostly Fortune 500 firms in the US and generate more than $48 billion in annual gross written premiums.

Rhona Emmerson, the conference organiser, said: “We have enjoyed the very positive attitude at this year’s event.

“People were genuinely excited to be here, happy to meet their Bermuda peers and company partners and share in the camaraderie.

“We extended our family plan so many delegates brought their spouses and we were able to take advantage of discounts.

“Our vendors have also been incredibly upbeat and we have already been able to confirm vendors for next year’s event.

The conference will move to September next year to avoid a clash with the America’s Cup.