Bermuda Report 2018

The Captive Review Bermuda report covers a broad range of topics and developments affecting the domicile in 2018.

As the world’s largest captive domicile, Bermuda has always been at the forefront of innovation.

Continuing in that spirit, the jurisdiction is developing an environment to facilitate blockchain, cryptocurrency, and initial coin offerings (ICOs).

This technology has the potential to disrupt and transform traditional business practices, including in the captive insurance industry.

On the regulatory side, contributors debate the impact of General Data Protection Regulation (GDPR) in Europe, along with Bermuda’s equivalent Personal Information Protection Act which will come into force in December 2018, and the high price of non-compliance.

Elsewhere in the report, we hear how the insurance-linked securities and climate risk solution product markets are developing, and how Tax Information Exchange Agreements with countries in Latin America are bringing more business to Bermuda’s shores.

This report should give our readers a strong understanding of Bermuda as a jurisdiction, and how it retains its position as a highly attractive, agile jurisdiction in which to domicile a captive.

Canadian owned captives migrating towards Bermuda

The Linamar Corporation is among two new Canadian captive owners in Bermuda this year, and the jurisdiction is confident more business will come from that market in 2018....
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California and Iowa clash over use of life reinsurance captives

Iowa’s insurance commissioner has defended the use of captive reinsurance subsidiaries by Accordia Life and Annuity Company, after the California Department of Insurance criticised their use while seeking...
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Bermuda’s regulatory sandbox a “safe space” for insurance innovation

The Bermuda Monetary Authority (BMA) is hopeful its regulatory sandbox and innovation hub, once legislated for, will provide an ideal environment for innovative (re)insurance companies and intermediaries. Speaking...
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CICA and ICCIE team up on career development initiative

The Captive Insurance Companies Association (CICA) and the International Center for Captive Insurance Education (ICCIE) will enhance their...
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