Roland Andy Burrows, head of Commercial/Corporate Banking at Bank of Bermuda, explains, "It is important for us to really understand what the captive is all about and the factors that will lead to its success, so we can provide relevant and appropriate services and products.
This attention to detail and intimate industry knowledge is what sets Bank of Bermuda
apart from other competitors."
In fact, Bank of Bermuda
recognises that captives and their management companies require a full range of products and services to meet their specific needs.
These range from multiple currency payment and cash management products and services - which enable them to transfer and receive funds from around the world while optimising the return on their operating funds - to custody services for the safekeeping of their investment portfolios.
Each type of captive will typically require an entirely different approach to banking procedures.
explains, "As a captive service provider, it's important for us to keep abreast of changes in the industry, current audit hot topics and the regulatory framework in which the captive operates.
says, "We have grown with the insurance industry in Bermuda and have focused our energies in meeting the needs of our captive clients.