Barbados’s Financial Services Commission (FSC) has launched a global public consultation aimed at refining the regulatory and administrative framework for captive insurance in the country. This move reflects growing global demand for captive insurance solutions and Barbados’s commitment to maintaining its status as a premier captive insurance jurisdiction.
Currently ranked among the world’s top ten captive insurance hubs, Barbados is seeking input from a wide range of stakeholders—including existing captive owners and managers, prospective entrants, insurance professionals, legal and financial advisors, and industry associations worldwide. FSC Board Chairman Oliver Jordan highlighted the consultation as a crucial opportunity to align regulatory policies with industry needs.
“We are expecting to hear from all relevant parties to ensure the FSC’s framework remains modern, transparent, and in line with international best practices,” Jordan said. He added that Barbados’s reputation stems from its straightforward regulatory approach, political stability, and favourable business environment, all of which make it an attractive destination for business insurance formation and management.
The FSC is committed to fostering a trustworthy insurance environment by continuously enhancing its regulatory standards. Feedback from this consultation will help Barbados sustain its competitive edge in the international insurance market.
Related topic:
Former Nippon Life Leader Tsutsui Takes Helm of Japan’s Top Business Lobby
PureHealth’s Daman Expands into Property and Casualty Insurance Market
Singlife Adds Turbulence Injury Payouts to All Travel Insurance Plans
