On 16 January 2024, the BVI Financial Services Commission
announced the release of updated annual return forms, in an effort
to enhance reporting efficiency and compliance within the insurance
sector.
The revised forms include the Domestic Insurance Business Annual
Return, Captive Insurance Business Annual Return, Insurance
Intermediaries Annual Return, and Insurance Manager Annual Return,
all of which are mandated by the Financial Services (Prudential and
Statistical Returns) Order, 2009.
Insurers, Insurance Intermediaries, and Insurance Managers are
urged to take note of these updates and ensure compliance with the
submission deadline. According to the FSC's directive, returns
for the 2023 reporting period must be submitted no later than
31 March 2024, utilising the newly amended and
updated forms.
