A team of industry and regulatory experts from Bermuda will travel to Toronto to tell Canadian corporations about the benefits of captive insurance companies on the island.

The informative executive forum, a Bermuda Business Development Agency initiative, will be held on May 10 at the Shangri-La Hotel.

Representatives will outline the advantages of Bermuda-based captive insurance companies to self-insure a variety of risks, from healthcare and employee benefits to cyber disruptions.

“Bermuda offers Canada corporations a pragmatic, cost-effective solution in a blue-chip jurisdiction to manage the many complex risks facing today’s global businesses,” said Jereme Ramsay, BDA business development manager.

“We hope this presentation will highlight Bermuda’s strengths as a partner jurisdiction, and we welcome questions or requests for one-on-one meetings while we’re in Toronto.”

Bermuda has been of growing interest to Canadian corporations following the June 2010 signing of the Canada-Bermuda Tax Information Exchange Agreement, which allows Bermuda subsidiaries of certain Canadian corporations with international operations to be eligible for Canadian tax benefits, including the tax-free repatriation of certain dividends to Canada.

The forum will feature two sessions, moderated by Joe DaSilveira, senior vice-president of Liberty Mutual Management.

The first session, titled Captive Solutions and Strategies, will explain what a captive insurer is, a captive’s structure, key reasons to set up a captive, along with common risks insured, citing several case studies. A second session will focus on tax and regulatory considerations.

Oceana Yates, vice-president of captives at R&Q Quest Management, who will be one of the panellists, said: “Canada and Bermuda have a longstanding relationship, which has resulted in many successful Canadian entities establishing a Bermuda presence.

“As such, we are delighted with the opportunity to share our experience and present about captives, addressing critical issues and highlighting some of the benefits that Canadian corporations typically look to achieve with a captive.”

She added: “The well-established historical ties between Canada and Bermuda were reinforced by the signing of the Canada-Bermuda TIEA, and this has further enhanced business opportunities between the countries.”

Other industry speakers attending the forum include Mark Allitt, director, advisory, KPMG (Bermuda); Leslie Robinson, assistant director, corporate authorisations with the Bermuda Monetary Authority; Christiane Kenny-Post, corporate manager, consultant, Compass Administration Services/ASW Law; and David Downie, partner, tax, financial services with KPMG (Canada).

To register for the forum, go to: http://conta.cc/1VdNmfk