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BVIIA Appoints Conor Jennings as New President

FOR IMMEDIATE RELEASE
8 June 2004

The British Virgin Islands Insurance Association is pleased to announce the appointment of Conor Jennings as its new President.

Conor Jennings has worked in the insurance industry for over twenty years having lived and worked in Dublin, London, Hong Kong, Singapore and Guernsey. Before he left Guernsey in 2002 he was the Vice President of the Guernsey Insurance Captive Managers Association. He is a Fellow of the Chartered Insurance Institute and a Fellow of the Institute of Risk Managers.

With well over 300 insurance companies registered and managed in BVI, the Insurance Association recognizes the importance of working closely with BVI’s Financial Services Commission (FSC) on regulatory issues and with the International Finance Centre (IFC) on promotional activities.

The recent dramatic success and growth of BVI as a major captive domicile (it is the fourth largest captive offshore domicile in the world after Bermuda, Guernsey and Cayman) has meant that more and more people are beginning to appreciate the many competitive advantages of establishing captives or segregated portfolio companies in the jurisdiction.

This rise in international profile means that BVI will continue to attract more business, and one of the main aims of the Association is to ensure that the managers and the FSC have the necessary resources and systems in place to process new companies’ applications speedily and to ensure that international pressure from outside parties does not impede future growth.

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