From the Bahamas Financial Services Board newsletter, May 25th, 2016

Associates in Captive Insurance (ACI) Designee

The Bahamas has its first ACI Designee. Anastasia Campbell, Partner at Graham Thompson, has completed the globally recognised and respected Associate in Captive Insurance (ACI) designation programme offered by the International Center for Captive Insurance Education (ICCIE).

In 2013, the Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas partnered to provide full scholarships for the ACI designation. The initiative was introduced in collaboration with the Ministry of Financial Services, the Bahamas Insurance Association and the Insurance Institute of The Bahamas, who also participated on the evaluation committee for selecting scholarship recipients. At that time, BFSB announced that it was targeting those persons interested in the captives sector and who intend to work in or to assist the industry. ICCIE was chosen as a partner because it was the first comprehensive captive insurance education programme in North America, and its courses were considered relevant to any domicile around the world.

Anastasia Campbell, then an Associate in the Corporate & Financial Services Group (including the insurance sector) at Graham Thompson was one of the first two scholarship awardees for the introductory programme. Now a Partner at GT, Anastasia’s practice areas include Banking & Finance, Corporate, Commercial & Securities, Immigration & Naturalization, Insurance, and Private Clients, Trusts & Estates. She says, "The ICCIE program was comprehensive and, at times, quite rigorous. I am absolutely elated to have completed the program and receive the ACI designation. Apart from the personal achievement, I trust my designation contributes to The Bahamas to enhance expertise within the industry. Certainly as more Bahamians attain the ACI designation, The Bahamas will continue to re-remerge as a top domicile for captives, boasting a well regulated environment and proficient and accessible service providers."

Mitch Cantor, ICCIE Executive Director says, "Here at ICCIE we applaud both Anastasia’s achievement and the BFSB’s commitment to the highest standard in captive insurance professionalism. The Bahamas’ scholarship programme for students entering the Associate in Captive Insurance (ACI) programme is a clear sign of the domicile’s commitment to excellence in the industry."

The ACI designation was created by ICCIE after feedback from industry experts made it clear that a captive insurance education designation should be available through a comprehensive programme of study.

"We commend Anastasia on her accomplishment," BFSB CEO Tanya McCartney says. "The ICCIE scholarship programme is indicative of The Bahamas’ renewed committed to creating an environment that is conducive to the growth of the captive sector." Michele Fields, ICB Superintendent adds, "We also congratulate Anastacia on her achievement. We encourage other professionals who are now involved or wish to be involved in the captive insurance sector to pursue such accreditation that will further inspire confidence regarding the relevant expertise available in The Bahamas".

There currently are 3 other BFSB/ICB scholarship students completing the designation programme, with two other scholarships to be awarded in 2017. BFSB’s CEO confirms, "A key 'Bahamas Advantage' always has been our highly skilled professionals. We are committed to increasing capacity as it relates to captives as we see this as a key market opportunity with significant potential for the financial services sector. Further, The Bahamas Financial Services Board will continue to collaborate with The Insurance Commission of the Bahamas and International Center for Captive Insurance Education as we seek to ensure that The Bahamas continues to meet standards of international best practice."

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