Premier pledges Bermuda's continued support of Captive Insurance sector

Premier Michael Dunkley pledged continued support of the Captive Insurance sector while speaking at the Bermuda Captive Conference on Monday.

The Bermuda Captive Conference is currently taking place at the Fairmont Southampton and is considered one of the foremost events for industry professionals.

Premier Dunkley said: "I understand that you have a record number of room nights booked here at the Fairmont Southampton this year, and without question this event serves as an excellent boost for our economy by generating significant revenue for our hospitality and business sectors."

The Premier also went on to impress the importance of Bermuda's captive sector to the Island. He touted the fact that Bermuda is an innovative, experienced and mature jurisdiction.

"For more than 50 years, Bermuda has been at the forefront of global finance, and we have come a long way since our humble beginnings. Our business institutions are among the world’s best, and as a place to do business, Bermuda is still viewed as a destination with an excellent capacity for innovation with a very sophisticated business culture.”

The Premier closed out his welcome by pledging to work with all industry partners to grow and strengthen the economy and reinforced the fact that Bermuda continues to be open for business, saying: "I feel quite confident that Bermuda is poised to succeed in the global arena despite increased competition in a fluctuating economic environment.

"We are a competitive, efficient, and stable financial centre operating with integrity and we are open for business.”