ARTICLE · 20 OCTOBER 2000

Captive Insurance

Coverdale Trust

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British Virgin IslandsWealth Management

The British Virgin Islands Government has a very client-focused approach to the provision and regulation of financial services. The Insurance Act 1994, which governs all insurance-related business in the Territory, ensures the prudent supervision that is necessary to maintain the financial reputation of the BVI but also allows the greatest degree of flexibility in a captive’s business plan. The Act and the Insurance Regulations 1995 set out the obligations of those who own and operate captives but the flexibility of the legislation is such that the Act gives the Governor discretion to waive any provision of the Act or Regulations.

Some of the advantages of incorporating a captive in the BVI include:

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