More than 150 overseas delegates have registered to attend next month?s first annual Bermuda Captives Conference.

Roger Gillett, chairman of the Insurance Development Council and of the conference, said the overseas numbers are a solid start for the conference in its first year, prompting him to hail the event as a success in advance.

?It may reach as many as 200 coming to the conference and a good number of those are in fact the owners of captives which is a vast improvement on any previous conferences that we have held on captives here in Bermuda,? he said.

The conference will open on September 12 with a Healthcare Track: Growing Your Health Care Captive.

The final two days of the conference will offer a forum on issues of interest to captive owners, prospective owners and market professionals.

Organisers have scheduled plenty of panel discussions to offer debate of technical issues rather than just pure presentation, Mr. Gillett said, adding taxes are one area where there will be some focus because of the many changes that have taken place in recent months.

Mr. Gillett said now is the time for local lawyers, accountants, captive managers and bank representatives to register to attend.

?I would encourage them not just from the standpoint of meeting clients and prospective clients but also in the context of continuing education because when you network at such an event there is a fantastic education opportunity,? he said.

Organisers also aim to use the momentum of the conference to encourage clients to found a Bermuda Captive Club and develop activities to give captive owners a forum to discuss opportunities for their captives as well as other topics.

While there has been some concern voiced that Bermuda is losing ground to other captive domiciles such as Vermont and Cayman, Mr. Gillett said such comparisons often forced the Island to defend itself needlessly

?We are the largest captive domicile in world by large measure. That has has not changed and there is no indication that will change anytime in the near future,? he said. ?What has happened here is because of the fantastic success of the other elements of reinsurance and insurance industry the captive sector has become a little overshadowed which completely downplays both its importance and relevance in the risk management world.

?We are largest captive domicile and that has not changed and we are continuing to grow.?