Economic Substance and Captives

Wednesday, July 22, 2020

Reserve Your Seat

Recording Date: Wednesday, July 22, 2020


After the introduction of the OECD’s 15 point Action Plan on Base Erosion and Profit Sharing (BEPS), many offshore jurisdictions passed legislation providing for enhanced economic substance requirements. Most captives in those jurisdictions have just completed their first year of compliance with the regulations. In this webinar we look at the impact of economic substance on captives, best practices for compliance and potential future developments. Specific topics covered include:

  • Base Erosion Profit Sharing (BEPS) and the OECD Action plan
    • Basic principles of coherence, transparency and substance
    • EU Code of Conduct reviews
  • Economic substance requirements
  • Application to captives and compliance activities
  • Best practices for operations
  • Future developments and impact on captive domiciles

This webinar is suitable for existing captive owners and captive advisors and anyone looking to understand the basics of BEPS and economic substance requirements as they affect captives.


Derek Bridgeman, Managing Director, Strategic Risk Solutions (Europe) Ltd.  Derek leads the firm’s consulting business in Europe, including the provision of captive feasibility studies, captive strategic reviews, technical consulting and risk financing consulting studies. He has over fourteen years’ captive management and consulting experience in Europe and previously led Marsh’s BEPS initiative in partnership with the Federation of European Risk Management Associations.

Michael Frith, Senior Counsel, Carey Olsen Bermuda and Managing Director of corporate services. Michael has particular experience advising on the formation and ongoing regulatory and transactional requirements of all types of Bermuda corporate and insurance structures. He has been a key advisor to the Bermuda Registrar of Companies and Ministry of Finance in relation to the development and implementation of Bermuda’s economic substance legislation and related guidance.

Richard Daley, Managing Director, Strategic Risk Solutions (Bermuda) will moderate the webinar. Richard oversees SRS’s clients and staff in Bermuda as well as new business development and relationship management for clients in the domicile. He was formerly President of JLT Insurance Management (Bermuda) and has over 18 years insurance management experience in Bermuda.

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