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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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BDA Strengthens Its Position with Two New Business Development Hires

Images of Jasmine DeSilva and Anastasia Slater Bermuda
February 03, 2020

The Bermuda Business Development Agency (BDA) has appointed Jasmine DeSilva and Anastasia Slater to help drive business development in the domicile.

As business development manager, Ms. DeSilva will drive initiatives in the insurance industry, working closely with key stakeholders and associations on behalf of the BDA.

With more than a decade of insurance industry experience, Ms. DeSilva previously worked as an assistant vice president at Sompo International and was a key underwriter with a large portfolio of Fortune 500 accounts focusing on transportation and energy risk.

"I am … excited to be building on the excellent work that has been done to date. Bermuda's standing as one of the world's most important insurance and reinsurance markets is something the whole island can be proud of and I feel privileged to be working with all those involved to make sure we continue to take advantage of new opportunities and are able to overcome any challenges," said Ms. DeSilva.

As business development coordinator, Ms. Slater will play a significant role in supporting the BDA's efforts across the insurance market in addition to focusing on the technology sector.

Ms. Slater is an AIR Institute Certified Catastrophe Modeler with experience working in the industry at Axis Capital (Bermuda) Ltd, Sirius International (Bermuda) Ltd, and Torus Reinsurance Ltd.

Ms. Slater said, "I'm very much looking forward to joining the BDA and have already been involved in discussions with the team about plans for this year. I hope to use my skills and experience to drive forward new business developments for the benefit of Bermuda."

Roland Andy Burrows, CEO of the Bermuda Business Development Agency, said, "We are delighted to welcome these qualified professionals to the BDA and I know they will add great value to the work we are doing. With these recent additions to the team, the BDA is in a great position."

Bermuda licensed 22 new captive insurance companies in 2019, allowing the offshore domicile to maintain its status as the world's largest captive domicile.

Those 22 formations were up slightly from 2018 when 19 new captives were licensed.

Bermuda captives wrote $40 billion in gross written premiums last year, about the same compared to 2018.

Article photos of Jasmine DeSilva (left) and Anastasia Slater (right) are courtesy of the BDA.

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