ARTICLE · 08 JULY 2020

Bermuda Captive Market: Moving From Maturity To Innovation And Growth

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Bermuda's captive industry is widely recognised as a mature market with access to excellent insurance talent, top tier service providers, leading (re)insurers and a robust....

BermudaInsurance

Bermuda's captive industry is widely recognised as a mature market with access to excellent insurance talent, top tier service providers, leading (re)insurers and a robust, yet commercially minded insurance regulatory framework. As one of the oldest captive domiciles and with many of its captive owners' large Fortune 500 companies and multinational enterprises, Bermuda is considered the global leader, with more than 700 captives generating an estimated US$40 billion in gross written premiums annually.

But, is the jurisdiction evolving in order to remain the leading captive domicile and attract prospective captive owners – how is it staying relevant?

Embracing innovation

The advent of Insurtech in the global (re) insurance industry has not gone unnoticed in Bermuda, and the Bermuda Monetary Authority (BMA) has actively sought to fold this modernisation into its insurance legislation.

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