A listless economy has meant $150 million trimmed from Bermuda’s budget, but a brighter outlook is expected later this year, according to Bermuda and U.S. officials.

At the Bermuda Captive Conference in Southampton, Bermuda last week, conference keynoter Robert H. Benmosche, president and CEO of AIG, sat down for an exclusive interview with NU to discuss public perception of his company and if he would change anything about the past.

An agreement between Canada and Bermuda on the exchange of tax information will take effect July 1, according to Paula A. Cox, Bermuda premier and minister of finance.

See what Robert H. Benmosche, president and chief executive officer of AIG, had to say at the Bermuda Captive Conference in this exclusive interview with PropertyCasualty360.

A tax agreement between Canada and Bermuda is generating interest in Canadian captive formations, according to a Bermuda official.

Public-entity risk managers around the country are being forced to deal with the ongoing—and often dire—effects of the financial crisis, which has led to job losses, pay cuts and cutbacks in coverage.

With the captive insurance industry at a relative crawl over the past few years, an upward trend reported by several domiciles in 2011, including Bermuda, has generated enthusiasm in the captive industry.

Captives in Vermont will enjoy greater protection of their assets now that a bill has been passed by the state legislature that will allow for the separation of risk within a captive cell.