The Bermuda Captive Network and consultant Andrew Vaucrosson have mutually decided to part ways, the organisation has announced.

BCN said: “During the past 18-month growth phase, BCN engaged with Mr Andrew Vaucrosson as a consultant to help develop BCN’s operations and membership base.

“Through his efforts, the membership has grown to over 150 persons/entities and he has also helped to establish improved communication and enhanced member advocacy with key stakeholders such as the Bermuda Monetary Authority, the Registrar of Companies, the Bermuda Business Development Association and other government departments and ministries.

“He has also assisted with drafting press releases and statements for international media organisations to assist the BCN with promoting Bermuda as a world-class domicile in the global risk market.

“Now that we have established a good base of operations, we have mutually decided with Mr Vaucrosson not to extend our consulting relationship so that he can pursue other opportunities.”

Mr Vaucrosson’s last day at BCN was August 15.

Grainne Richmond, director of BCN, said: “Mr Vaucrosson is a seasoned professional with an extensive management background and provided the necessary foundation for us to build a reliable and productive operation behind this new membership organisation.

“We are truly grateful for Mr Vaucrosson’s contribution to the development of BCN and we are very confident that he’ll be just as successful with any other enterprise who decides to hire him.”

Formed in February 2022, the BCN emerged from the synthesis of the former Bermuda Insurance Management Association, the Bermuda Captive Owners Association and the Bermuda Captive Conference.

It is a membership-focused organisation providing education, business development and representation for Bermuda’s captive and managed insurance industry.