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Industry Briefs
BARBADOS SET TO HOST SECOND ANNUAL RISK & INSURANCE CONFERENCE IN MARCH
BIBA President Derrick Cummins

BIBA , the Association for Global Business, will host the second annual " Barbados Risk & Insurance Management" (BRIM) conference, March 21-22, 2022, in a hybrid format at Hilton Barbados Resort.

The international summit is already generating significant interest in Canada, the United States, United Kingdom, and the Cayman Islands, as well as other countries and territories in the region. 

Derrick Cummins , President of BIBA, said, "Barbados remains one of the seven largest captive domiciles globally, recognized for local captive management and a captive friendly regulatory environment, which has contributed to this jurisdiction continuing to outperform some of the larger global captive domiciles."

As the country prepares to host BRIM 2022, Cummins revealed that the island nation was continuing to attract new business, especially from its mainstay Canadian market. "At the end of 2021, Barbados had a total of 308 total captives as opposed to the 279 at the end of 2020," he reported. Of these, 154 were from Canada, 75 from the United States, 30 each from Latin America and the Caribbean, and about 20 from European and other countries. There are 13 holding companies and 21 management companies on the island.

The BIBA President added that as Barbados continues to stamp its place among the world's global business domiciles, "we look forward to the BRIM 2022 conference bringing together local, regional, and international thought leaders on insurance, risk management and global business."

He said 150 industry professionals can be accommodated at Hilton Barbados while still enforcing social distancing policies, but as a hybrid conference, all sessions will be streamed live via the Whova conference event and conference app, which can accommodate up to 500 registrants.

Topics to be examined during the conference include Risks, Ransomware and Cybersecurity; Regulatory Changes in Key Latin American Markets; AML Regulation of the Barbados Insurance Industry; the Global Minimum Corporate Tax Rate; Captive Fundamentals in Business Planning; Hot Topics in Captives; The Macroeconomic Outlook; IFRS 17; and Private Placement Life Insurance for High Net Worth Individuals.

BRIM has secured the sponsorship of major players in the financial services sector, including RBC Dominion Securities Global Limited; USA Risk Group, Inc.; London & Capital; Strategic Risk Solutions; Clarity Life Insurance; Invest Barbados; Summit Asset Management; CIBC FirstCaribbean Bank; Sagicor Life Inc, and Integrity Managers.

To register, contact the BIBA Secretariat at biba@biba.bb; +1 246 537-2422 or visit brim.biba.bb .

About BIBA

BIBA is a nonprofit private sector organization comprising companies engaged in global business from within and through Barbados, and companies which are otherwise strategically associated with this sector. It provides a network for meetings and exchange. BIBA serves as a voice for the development of global business in Barbados and has over 140 member firms. BIBA has repositioned itself as the Association for Global Business to align with the vision of Barbados being a global business hub.

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