Captive business continues to grow globally with lots of potential arising from the Latin American market, in particular, Colombia.
These were some of the interesting facts coming from the recently held Captive Insurance Companies Association (CICA) 2015 International Conference in Orlando, Florida. Speakers at the conference also underlined the importance of the strength and responsiveness of the regulator in choosing a domicile.
At the event, representatives from Barbados showcased why the jurisdiction continues to be a preferred domicile of choice for captives. The Invest Barbados team engaged with several potential investors, mainly from the USA, who visited the Barbados booth during the three-day exhibition.
This year’s conference was well-attended with each individual forum attracting over 400 persons. CICA, a domicile neutral association, works with domiciles, captive owners, captive managers, service providers, and regulators, to advance the interests of the captive industry.
Barbados is ranked globally among the top ten captive domiciles, with approximately 54% of its active captives originating from Canada and almost 30% from the USA.