Why is Bermuda Still The Leading Domicile?

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Why is Bermuda Still The Leading Domicile?

• September 18, 2006

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Why is Bermuda Still The Leading Domicile?

• Moderator            David Ezekiel, President
  and Managing Director, International Advisory
  Services, Ltd.
•  Panelists            Lanette Frostestad,
  Director of Analysis and Risk Management,
  McKesson Corporation             Keith J. Ryan,
  Vice President and Chief Finance Officer, Lincoln
  Reinsurance Company of Bermuda Limited          
    William H. Baxley, Vice President, Treasurer
  and Assistant Secretary, Freeman

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Why is Bermuda Still The Leading Domicile?

• THE NUMBERS
• Bermuda 987
• Cayman 733
• Vermont 542
• BVI 383
• Guernsey 382
• Barbados 301
• Hawaii 158
• South Carolina 122
• Bermudas growth over the last 2 years is
  lagging behind its main competitors---cause for
  concern?

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Why is Bermuda Still The Leading Domicile?

• WHAT MAKES A GOOD DOMICILE ?
• PRIMARY ?
• Regulatory Framework - mature environmemt /
  regulatory pragmatism
• Tax Environment
• Infrastructure - Broad Range of Service Providers
  / High level of expertise
• Industry Support - Brokers, Reinsurers
• One-stop shopping
• Political Stability
• SUPPLEMENTARY?
• Legal Framework
• Safety/Quality of Life
• Vital Business environment
• Proximity to U.S. Markets
• A pleasant destination

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Why is Bermuda Still The Leading Domicile?

• ROOM FOR IMPROVEMENT ?
• Control on Costs
• Speed of Incorporation
• Airport Immigration Lines
• Hotel Availability
• Maintain Service Standards/Infrastructure
• Try and minimise Bad Publicity Respond suitably
  when it occurs

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Why is Bermuda Still The Leading Domicile?

• WHAT LIES AHEAD ?
• More Domiciles ?
• Onshore Challenges
• The impact of Rent A Captives
• Greater use of Bermuda Reinsurers?

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Why is Bermuda Still The Leading Domicile?

• September 18, 2006