Captive Insurance Handbook
With a wealth management pedigree unmatched in the region The Bahamas is strategically nurturing captive insurance as an important addition to its growing and impressive array of financial services. The Bahamas, which marked 40 years of independence in 2013, offers a number of advantages as a jurisdiction of choice to captive insurance companies.
Given today’s unpredictable insurance market, historically low interest rates and increased regulations, it is not surprising that captives are coming into their own as an attractive risk financing option. Fortunately, starting and operating a captive has never been more straightforward, particularly in The Bahamas. With almost 40 years of experience in the sector (and over 80 in the financial services sector as a whole), an internationally-lauded regulatory and legal framework, an exacting yet supportive regulator, and a world class talent pool of professional service providers, including auditors, bankers and lawyers, The Bahamas is a jurisdiction that is second to none.
The Bahamas has been a major player in international financial services since the 1930s. With its historic commitment to providing high quality services to families that span the globe, The Bahamas is one of the world’s foremost wealth management centres. It services a global client base with a full range of private banking, estate planning, asset management, and insurance and fund administration services.
KPMG in The Bahamas, a provider of captive focused in audit, tax and advisory services as well as an investor in the development of the captive insurance industry, has teamed up with the Bahamas Financial Services Board (BFSB) to release this comprehensive overview.
Captive Insurance in The Bahamas is designed not only to provide general and useful information about captive formation, ownership and ongoing management, but also to share with you specifics of The Bahamas as a jurisdiction for entities looking to establish a captive.