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Study: Captive Insurers Generate $174M A Year

Sep 14, 2017
Study: Captive Insurers Generate $174M A Year
From: Bernews, September 10, 2017

A new research study conducted by PriceWaterhouseCoopers for the Bermuda Insurance Management Association [BIMA] has found the captive insurance industry contributes an estimated $174 million every year to the island’s economy, the Bermuda Business Development Agency [BDA] said.

“The sector directly employs at least 557 people in Bermuda, the study indicated, and generates minimum fee income of some $139 million every year,” the BDA said.

“An additional $35 million is contributed annually by captives to the Bermuda government, regulators, local suppliers and commercial property owners, as well as hotels and other business hospitality vendors.

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