Saint Vincent insurance company

St. Vincent and Grenadines Class V Captive Insurance Company

St. Vincent and the Grenadines has identified the international insurance sector as an excellent growth area. The present insurance regime offers a great deal of flexibility to insurers wishing to conduct international insurance business.

The sector is regulated by the International Insurance (Amendment and Consolidation) Act 1998 which came into effect on December 15, 1998 and, the International Insurance Regulations gazetted on June 22, 1999 . Together these laws set the legal framework for the high quality of regulatory and administrative processes necessary to foster and maintain market participation, transparency and confidence. The legislation governing insurance was updated in several aspects in 2006, however, and plans were afoot for further updates in 2007.

Class V license features

  • Name of license: Single
  • Type of Business allowed: General and long term
  • Other restrictions: Business must be with sole owner of insurer only
  • Audit required: No Capitalisation: $10,000

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