This episode is the first installment of the ‘Views from the Summit’ series of peer to peer discussions with leaders in the Captive Insurance Industry. John Howard, President of Summit Asset Management chats with today’s guest Wayne Fields, President of DGM Financial Group. Wayne talks about his long and successful career in the Financial Services industry in Barbados, what the industry means to him and his thoughts on the way forward. 

 

•   Wayne's career in accounting and now in international financial services

- Coopers and Lybrand to PWC and now DGM Financial Group

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•    What drives him to keep going - 3:23

- Importance of training and succession to providing excellent client service

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•   Leading an independent brand such as DGM - 6:00

- Market reach - Canada, US and UK

- Range of financial services, including insurance management

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•   Barbados as an option for UK clients - 8:12

- Name recognition - opportunity to raise awareness of local financial services

- Cost advantages versus other nearshore options

- Recognition of Barbados Stock Exchange by the London Stock Exchange

- Listing of digital assets

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•   The Barbados International Financial Services Experience - 10:35

- Benefits for clients

- Benefits for Barbadians

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•   "Captive Insurance" - What is it and what are the career prospects? 13:40

- Breadth of Insurance, beyond captive relationships

- Variety of industry roles - trust, accounting, etc.

- Day-to-day experiences

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•   Investment Management for captive insurance companies - 17:20

- Trend of outsourcing to investment advisors vs. in-house

- Importance of benchmarks and fees

- Variations in portfolio mix - mature vs new captives

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•   Wayne's views on opportunities for Barbados' captive insurance industry 21:35

- OECD substance rules

- Spreading the knowledge to key markets, collaboration between public and private sector