With a responsive government, a solid infrastructure, a great location and $444 billion total assets–$72 billion captive-related–Bermuda's insurance industry, the “gem in Bermuda's crown,” is still attracting risk managers, said industry experts and members of Bermuda's government here.
The insurance and captive destination remains popular in spite of domicile competition and a soft market, they said.
“We're seeking to make sure our regulatory framework stays ahead of the game and to be responsive,” said Deputy Premier and Minister of Finance for the Government of Bermuda, Paula A. Cox, in San Diego for the Risk and Insurance Management Society conference where Bermuda is a regular exhibitor. “When there are legitimate issues raised about how we can further enhance, we seek to accommodate and move fairly quickly.”
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