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BFSB briefing highlights insurance industry

The Bahamas Financial Services Board recently hosted a half-day insurance industry briefing in collaboration with the Insurance Commission of The Bahamas, the Ministry of Financial Services and the Insurance Institute of The Bahamas. 

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TheBahamasInvestor.com
Wednesday, December 3, 2014
Wednesday, December 3, 2014

The Bahamas Financial Services Board (BFSB) recently hosted a half-day insurance industry briefing in collaboration with the Insurance Commission of The Bahamas, the Ministry of Financial Services and the Insurance Institute of The Bahamas.

Peter Strauss, managing member of the South Carolina-based Strauss Law firm, spoke to “Captives Post Formation,” focussing on the operations of a captive insurance company.


He also spoke to The Bahamas’ advancement in the captive space to a position of 23rd in the world by number of captives.

Michele Fields, superintendent of the Insurance Commission of The Bahamas, provided a regulatory environment update on the external insurance sector, and the ongoing risk-based supervision (proportional regulatory regime) undertaken by the commission. She stressed the opportunity for innovation arising from developments both locally and internationally, coupled with a changing regulatory environment.

Guillaume Bouffard and Paul Cooper, co-founders of Premium Life Insurance Ltd addressed BFSB members and guests on the “Fertile Life Insurance Environment for High-Net-Worth Individuals (HNWIs),” speaking to life assurance as an essential piece of this jurisdiction’s wealth management toolkit.

Prime Minister Perry Christie officially launched the Junkanoo Carnival, which will take place in spring in Freeport and Nassau. See pictures of the Grand Bahama launch here.

Deputy Prime Minister and Minister of Works and Urban Development Philip Davis underscored the government's commitment to bring about reform of the Bahamas Electricity Corp as he addressed the Bahamas Energy Security Forum December 3.

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