Yesterday (June 10), the Hon. Jason Hayward JP, MP, Minister of Economy and Labour delivered the opening remarks at the 2025 Bermuda Captive Conference, reinforcing Bermuda's position as the world's premier captive insurance domicile and emphasizing the importance of innovation, talent development, and global collaboration in reimagining risk.

Speaking under this year's conference theme, "Reimagining Risk: The Next Frontier," Minister Hayward welcomed local and international delegates from across the captive insurance ecosystem, including owners, risk managers, service providers, regulators, and emerging leaders.

“Bermuda stands proudly as the world's leading captive insurance domicile, home to more than 650 captives managing billions in assets," Minister Hayward said. "For over 60 years, we have pioneered tailored, innovative, and resilient risk solutions, helping global organisations respond to an increasingly complex risk environment. This leadership is no accident. It is the product of Bermuda's robust regulatory framework, deep industry expertise, and our relentless pursuit of excellence and adaptability."

Minister Hayward acknowledged the evolving nature of risk, driven by climate change, geopolitical tensions, technological disruption, and regulatory shifts. "Captives must be more than responsive. They must be proactive, strategic, and digitally enabled," he said. Highlighting Bermuda's role at the forefront of this transformation, the Minister noted the industry's use of artificial intelligence in underwriting, parametric tools for protection gaps, and commitment to ESG-aligned enterprise resilience.

The Minister also underscored the Bermuda Captive Conference's role as a vital global platform for dialogue and partnership. With over 65 expert speakers and 15 sessions covering geopolitical risk, climate resilience, regulatory developments, and emerging markets, the event continues to drive knowledge exchange and industry innovation.

Minister Hayward emphasised the Government's commitment to workforce development and inclusion within the captive sector. This year, a new internship programme will launch in collaboration with the Bermuda Captive Network and KPMG, creating meaningful opportunities for young Bermudians. He also highlighted ongoing mentorships, scholarship initiatives, and the presence of overseas students from the University of Calgary, further cementing Bermuda's status as a centre of excellence for risk management education.

“As we embark on three days of discussion, connection, and celebration, I encourage all delegates to fully engage with a sense of curiosity, boldness, and collaboration," the Minister concluded. "Bermuda remains committed to nurturing an environment where the captive sector can thrive, innovate, and lead globally. Let's reimagine risk and the future together."

As part of this year's conference, Minister Hayward had the honour of presenting the 2025 Fred Reiss Lifetime Achievement Award to the family of the Late Senator Leslie Robinson. This recognition celebrates her unparalleled service and enduring impact on Bermuda's captive insurance industry. 

A true visionary, Senator Robinson was a tireless advocate, mentor, and unifying force. As a former Chair of the Bermuda Captive Conference and a founding Strategic Director of the Bermuda Captive Network, she helped steer the industry through pivotal moments, championing inclusion, promoting education, and elevating Bermuda's global stature. Beyond her professional achievements, she was a respected Senator and devoted mentor, inspiring countless individuals to find their voice and pursue meaningful careers in insurance.