Barbados licensed a total of 13 captives in 2016, according to
the Barbados Financial Services Commission.
The new captives come from the finance, energy, retail and
healthcare sector.
In total, Barbados now has 246 active captive insurance
companies.
The island's captive insurance legislation was introduced in
1984 when the Barbados-US tax treaty was signed.
Last year, London & Capital, a wealth and asset management
company, reported continued growth among its network of Caribbean
clients and professional advisers.
The company's Caribbean office, located in Barbados, had
seen a significant increase in demand from captives in the region
over the last 10 years.
In April last year, Lisl Lewis, executive director and head of
the London & Capital Caribbean office, said: "The
Caribbean captive and institutional market has grown significantly
in importance to London & Capital over the last decade, and we
are pleased to demonstrate our commitment to our regional
