Bermuda is the world’s leading captive domicile, being managed there and over 75% of the Fortune 100 companies having a presence. The level of expertise in Bermuda is considered to be amongst the best in the world in terms of service provision.
Alternative Risk Management (Bermuda) Limited is a licensed Bermuda Insurance Manager and is perfectly placed to assist with either the formation of a conventional captive company or a segregated account, the latter being housed in ARM Insurance Ltd, a Bermuda-regulated Class 3 Segregated Account Company
Bermuda is a group of islands in the western Atlantic about 600 miles east of South Carolina and approximately 750 miles southeast of New York City. The main islands, connected with bridges or causeways, are about 22 miles long with an average width of between one half and one mile. The population of Bermuda is approximately 60,000.
LICENCE APPLICATION PROCEDURES
No application procedures, only Board approval. Application fee $500.
There is no fixed minimum for a segregated account, so long as parent undertakes to make good any shortfall. For good governance, though, cells usually maintain solvency margin equivalent to 20% of net earned premium.
Bermuda has no taxation on profits, dividends or income, nor are there any capital gains or gift taxes. The only form of taxation imposed on insurance and reinsurance companies is annual registration and licensing fees.