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BFSB, ICB to attend captives conference in US

The 2015 Captive Insurance Companies Association International Conference is being hosted under the theme “Captives: The Strategic Advantage”. The annual event is scheduled for March 8-10 at the Loews Royal Pacific in Orlando. 

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TheBahamasInvestor.com
Thursday, February 19, 2015
Thursday, February 19, 2015

CICAThe 2015 Captive Insurance Companies Association (CICA) International Conference is being hosted under the theme “Captives: The Strategic Advantage”. The annual event is scheduled for March 8-10 at the Loews Royal Pacific in Orlando.

The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB) will have a presence at the conference, as delegates and exhibitors.


BFSB chief executive officer Aliya Allen says: “Since BFSB began refocusing on the promotion of the captives sector in 2012 we have achieved measurable results and The Bahamas is making strides to firmly position itself as a competitive domicile for captives and international insurance. Our participation in CICA along with ICB is a critical element of our strategic positioning – every domicile with captives is represented and it shows that we are serious about developing the sector.” BFSB has been attending CICA annually since 2010.

ICB superintendent Michele Fields adds: “Attendance at CICA is important for the commission as emerging issues regarding the captive insurance industry are discussed. The commission is pleased to support BFSB in the promotion of The Bahamas as a captive domicile.”

CICA president Dennis Harwick notes that this year’s conference is designed to explore the strategic advantages of captives related to a number of factors driving profound change in the sector – including technology and increased regulatory scrutiny.

“These and other top business issues such as increasing demands for transparency and changing tax laws are very much in focus,” according to the president.

CICA conference

AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of RoyalStar Assurance Ltd (Nassau, Bahamas). The outlook for both ratings is stable.

Prime Minster Perry Christie addressed the House of Assembly yesterday ahead of the 26th Inter-sessional Meeting of the Conference of the Heads of Government of the Caribbean Community to be held in Nassau towards the end of the month. Read his address here.

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