•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

Sean Moran, business development manager at the Bermuda Business Development Agency (BDA), said that family offices operating in Bermuda can enjoy the benefit of utilizing the different elements of financial service under one roof.

Moran told participants in the latest Opalesque Bermuda Roundtable, "We’ve been seeing more recently is the 'cross-pollination’ effect across what we usually think of as separate industry sectors. For example, family offices are clients that often look to utilize many different elements of service under one roof or in one jurisdiction."

He explained that family office don’t just require asset allocation or investment management services; they also require insurance, private wealth management and estate planning, trust structures for their family members, avenues for philanthropy and charitable giving, and so on. "All these products and services can all be provided in Bermuda," he said.

Moran added that Bermuda is also a leading center for captive insurance, and the island is seeing many different types of clients from various jurisdictions – not just insurance companies – setting up captives to self-insure. Also, fifteen of the world’s top 40 reinsurers are based in Bermuda, making up about 36% of the global reinsurance market based on property/casualty net premiums ear......................

To view our full article Click here