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Description: Both Bermuda and Cayman have thriving captive insurance industries which require the skills and experiences of qualified accountants. A "captive" insurance company is typically an insurance subsidiary of a large multi-national corporation. Due to their strong infrastructure and favorable regulations, Bermuda and Cayman are among the world leaders in captive insurance. Qualified accountants are hired on as "Account Managers" for captive insurance managers and assigned a portfolio of clients for which they become the regular point of contact. The diverse role of an Account Manager includes such responsibilities as regular preparation (monthly/quarterly) of financial statements for the parent company, liaison with third-party service providers such as auditors, actuaries, fronting insurance carriers, bankers, and lawyers. Due to the costs involved with finding and training new staff, companies require a minimum commitment of two years.
Qualifications: Qualified accountants to be considered must have experience in the preparation of financial statements, whether it be from an audit background or within industry. Strong communication skills are also a necessity for regular contact with the captive's multinational parent companies. Insurance experience is not a requirement, as full training is provided.
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