increase programme flexibility at reduced costs during an unprecedented period of mergers and acquisitions, converge on the Hamilton Princess Hotel next month for Cambridge Health Resources First Bermuda Health Care Captive conference.

It is targeted at the US health care industry, as many health care provider networks are turning to captive insurance subsidiaries to harness their diverse risk management needs.

President of the Bermuda Insurance Management Association (BIMA), Alan Cossar, estimated that between 1993 and 1995, more than 120 captives were formed by US health care providers, with the majority being incorporated offshore in either Cayman or Bermuda.

New health care captives continue to be formed and the uses of existing captives are becoming more diverse. Most of the 45 people already signed up for the conference come from the US health care industry, he said.

It follows the highly successful IBC Captive Conference, late last month, which primarily focused on group-owned and rent-a-captive programmes, attracting over 110 delegates.

The two day health care captive conference on July 10 and 11 will bring captive insurance executives together with health care executives. It will key in on developing strategic risk management solutions through innovative uses of health care captives.

Brochures for the conference are available from the Bermuda Insurance Institute. Discounts are being offered for members of BIMA and the Bermuda International Business Association.

Finance Minister, E. Grant Gibbons, opens the conference and is followed by a keynote address by Roger Gillett of captive manager J&H Marsh McLellan, discussing developments in Bermuda and captive trends.

Other speakers include Registrar of Companies, Kymn Astwood and Mr. Cossar, the president and CEO of Aon Insurance Managers.

Mr. Cossar said the forum is market-driven and tailored to address the current needs of health care executives and provide discussion of the latest trends and developments in utilising captives to integrate risk financing and risk management.

Mr. Cossar added that innovative case studies, interactive panel discussions and information-packed presentations will show delegates how to gain a competitive edge in the marketplace.

He said: "Whether you are thinking of forming a health care captive or currently have one, this programme will highlight basic solutions and creative options for utilising a captive.'' Alan Cossar BUSINESS BUC HEALTH HTH