The BVI Booth at the RIMS Conference in typically
Industry makes a big splash in San Diego
Insurance industry was present in force last week at the world’s largest event
for Risk Managers, the annual RIMS Conference, held this year in San Diego,
California. Over 11,000 professionals gathered there, and the BVI was
represented at a large and impressive booth. Mr. Michael Oliver, the Insurance
Regulator in the Financial Services Commission, gave a presentation to almost
100 people, at which he outlined the benefits of locating in the BVI.
The BVI is
rapidly becoming one of the world’s most important jurisdictions for Captive
Insurance, a specialist and growing branch of the industry. The majority of
clients for the BVI industry are medium US companies, with the Healthcare sector
being particularly well-represented.
“We are now the
world’s fourth largest Offshore Captive Centre,” explained Oliver, “and growth
is running at over 20% per year. Coming to an event such as RIMS means that we
are able to spread the word of our capabilities and facilities to a wide but
Managers from five BVI firms, along with representatives from the International
Finance Centre, Tourist Board and FSC were all present at the convention and all
reported high levels of interest from delegates.
business attractions of the territory for the Insurance Industry, Oliver
continued: “We are highly competitive and cost-effective, have great experience
and people and one of the best regulatory environments in the world. This
explains our rapid growth, which has continued in the early part of 2004.”
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