NASSAU, BAHAMAS — Representatives of the Bahamas Financial Services Board (BFSB) along with managers of the Insurance Commission of The Bahamas and industry professionals attended the Captive Insurance Companies Association Conference (CICA) 2022 held in Tucson, Arizona earlier this month.
“CICA brings together the best captive professionals from around the world in a domicile-neutral setting to explore new uses of captives, to engage new talent, and to outline best practices,” read a BFSB statement.
“By design, the conference unites Captive Insurance companies, Captive owners, Potential Captive owners, Risk Managers and Regulators to network, promote global finance and update intermediaries on current captive insurance developments within their respective regions.”
Annually, the conference hosts over 500 Captive Insurance industry professionals, financial services professionals, and regulators.
Tanya McCartney, CEO and Executive Director of BFSB said: “It is important for us to participate in events such as this as we seek to raise the profile of The Bahamas as a captive domicile. We believe that there is tremendous value proposition for small and medium sized captives to consider The Bahamas. It also provides an opportunity for us to share details about our supervisory framework for captives.”
The Bahamas is also expected to be represented at the Risk Management Society (RIMS) 2022 Annual Conference and Exhibition in San Diego, April 10th-13th.
“More than ever, the world is looking to the global risk management community for ways to ease disruption,” read the statement.
“RIMS is the premier event for the risk management community. BFSB will once again use this opportunity to put the spotlight on The Bahamas as an attractive captive domicile as we seek to regain ground in this space. Some of the topics to be discussed at this event include: Captives as an Alternate Risk Financing technique; Risk Appetite Management; Duty of Care in a Post-COVID World; and the role of Strategic Risk Assessment Framework in Managing Emerging Risks.”
