Hugh Rosenbaum, a retired consultant with Tillinghast-Towers Perrin, speaking at the 10th Annual World Captive and Alternative Risk Financing Forum, sees recent Bermuda legislation as increasing the use of offshore captive insurance vehicles.
Rosenbaum, who was recently named a member of the European Risk Management Hall of Fame, indicated that Bermuda’s adoption of segregated account legislation would make the use of such companies easier and more attractive.
“Segregated account companies are like rent-a-captives since both provide non-owned captive insurance services,” said the announcement from T-TP. Bermuda joins Guernsey and the Cayman Islands in providing for the formation and operation of these types of companies.
Rosenbaum indicated that the “captive-owner market seems to have stabilized in the U.S.,” and that “the era of the non-owned captive insurance company service has come into its own.”
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