30/01/24

Guiding Captives Through Global Developments

Bermuda formed the first modern captive in 1962 and remains the leading offshore captive domicile, with approximately 700 licenced captives on its register. Bermuda’s captive industry has remained resilient in the face of unprecedented events, including the COVID-19 pandemic, experiencing recent growth due to the current hard market, and a growing trend for increased diversification to write emerging risks such as climate, cyber and employee benefits given the current lack of suitable solutions in the commercial market. Increasingly, however, captives are required to further evidence the value they provide as a necessary risk management strategy, given changes driven by the shifting regulatory landscape in the name of global transparency.