Eduardo Fox Receives Bermuda Captive Conference's Fred Reiss Award

Eduardo Fox is the recipient of the 2023 Bermuda Captive Conference Fred Reiss Lifetime Achievement Award for outstanding commitment and contributions to Bermuda's captive insurance industry.

Mr. Fox's career in the captive insurance space has spanned 30 years and has seen him playing a role in the development of the Latin American captive insurance market starting in the early 1990s.

Mr. Fox serves as consultant in Appleby's Corporate and Private Client and Trusts practice groups in Bermuda, as well as for the Latin American and Latin European team for the global law firm.

He has spent more than 25 years with Appleby, starting as manager of the Corporate Practice Group. Mr. Fox's duties were expanded in 1997 to include the management of the Trusts Practice Group and again in 2000 to include the management of the firm's global Latin America business development team. Since then, Mr. Fox has successfully participated in extensive business development exploration in major Latin American and Iberian economies such as Argentina, Brazil, Colombia, Mexico, Panama, Peru, Portugal, Spain, and Venezuela.

Mr. Fox was actively involved in the negotiation and signing of the Tax Information Exchange Agreements with Mexico, Colombia, Argentina, and Brazil, which effectively opened the doors to business development in the region. He was appointed a member of the government of Bermuda's international treaty team, and he is currently the official adviser to the government of Bermuda on Latin American affairs.

Mr. Fox was born in Mexico City and obtained his economics and certified public accounting post-graduate degrees at the Universidad Nacional Autonoma de Mexico, with further studies in international economics at the University of Maryland.

"It was a delightful surprise and a definite honor to receive such a prestigious recognition. I would like to profusely thank those who saw my contribution worthy of such high award, but I should like to mention that, like anything of this magnitude, it is due to the hard work and support by many in the industry and the country as a whole," Mr. Fox said in a statement. "I have been extremely lucky to be surrounded and assisted by so many great visionaries, who not only had the patience to listen to me but signed off on the great project of business—developing a new market of more than 600 million people."

"Both the Bermuda Captive Conference and the Bermuda Captive Network are thrilled to bestow this year's honored award upon an industry veteran who has devoted over three decades to the captive insurance industry and the broader international business community in Bermuda," Leslie Robinson, Bermuda Captive Conference chair and senior vice president—head of underwriting and claims at Willis Towers Watson Management (Bermuda), said in the statement. "We deeply appreciate his long-standing service and unwavering dedication, which have played a pivotal role in maintaining Bermuda's status as the preferred domicile for captives and other global business ventures."

The award celebrates Bermuda figures who have had an outstanding impact on and made valuable contributions to Bermuda's captive insurance industry. Launched in 2016, the award is named after Fred Reiss, who conceived of the idea of "self-insurance." In 1962, Mr. Reiss created the world's first captive as a dedicated subsidiary through which a corporation could manage its own risks. Starting with American steel companies, Mr. Reiss pursued the concept in Bermuda and the sector recorded exponential growth over subsequent decades, fueling the foundation of the island's global insurance market.

Mr. Fox is the seventh individual to receive the honor.

Mr. Fox is pictured above (courtesy photo).