Top 10 global captive destination Barbados will continue to look to set standards and build on its flexibility, attendees at an Ottawa reception hosted by Invest Barbados heard last week.
“As we look ahead, we are committed to continuously enhancing our capabilities, refining our regulations, and fostering an environment of strengthened collaboration and increased knowledge exchange,” High Commissioner of Barbados to Canada H.E Gline Clarke told attendees.
“We see a future where Barbados remains a trailblazer in the captive insurance industry, setting new standards and exemplifying the potential that emerges when nations work together toward a common goal.”
Barbados has traditionally been an attractive destination for Canadian captives. There were 308 active captive insurance companies in Barbados as of December 31, 2021, with Canadian and US captives making up around 74% of these, according to figures from the Financial Services Commission of Barbados (FSC).