Bermuda Captive Conference to explore ESG opportunities, global tax changes

8 September, 2022, Hamilton, Bermuda – ESG opportunities and international corporate taxation are among  key topics at the Bermuda Captive Conference this year – the 60th anniversary of the island’s globally leading captive insurance industry.

PwC Bermuda continues its longtime support of Bermuda’s largest industry event as a gold sponsor and host of the welcome reception on 12 September at the Hamilton Princess. 

“This year we reflect on Bermuda’s significant impact in the captive industry across the last six decades,” said David Gibbons, Captive Insurance Leader, PwC Bermuda. “PwC has been there since the industry’s beginnings and our dedicated  team of actuaries, tax, compliance and accounting professionals now work with over 150 captives to bring innovative solutions for captive optimisation.” 

Danielle Moniz, senior manager, PwC Bermuda, served as chair of the BCC Agenda & Speaker Committee. 

“Using Captives for ESG Initiatives is one of the discussion topics at this year’s conference,” Moniz said. “Sessions will explore the possibility of using captive insurance to mitigate climate change or uninsured risk. For example, captives can develop protection gap solutions for climate risks and consider insurance of transition risk.”

Crystal Pittendrigh, Tax Director in PwC’s team of captive specialists, is speaking on the panel: Navigating BEPS 2.0 and US Tax Reform. 

This session will include:

• Updates and refresher on latest considerations in the OECD’s Base Erosion and Profit Shifting ("BEPS") Pillar 2 initiative, including a basic overview on how the framework is structured; 

• An update on recent developments in the tax space including specific implementation roadblocks, applications to the captive industry and what’s coming next.

• A brief overview on the US Inflation Reduction Act of 2022 which was just enacted last month.

“It is as important as ever for captive owners to stay in touch with their tax teams and/or tax advisors as there are new local and global tax changes on the horizon. We are always happy to get in touch with captive owners and assist with a "health check" from a tax perspective,” Pittendrigh said.