Anguilla Finance has released a fast-track application process for eligible insurance managers, as published by the Anguilla Financial Services Commission (AFSC).
The new process allows for the issuance of insurance licenses to captive insurers within one business day for eligible insurance managers approved by the AFSC.
To be eligible for the fast-track programme, insurance managers should be licensed for at least three years by the commission, have a proven track record of meeting regulatory requirements, a track record of managing captive insurance companies, and the insurance manager and the captive insurance companies under its management should have an acceptable compliance record.
Steve Garlick, CEO of Anguilla Finance, commented: “We firmly believe that the AFSC has the ability in quality and quantity to provide the level of highly efficient service without any fear of a reduction in regulatory standards that we have been well known for.”
He added: “I would also expect that this initiative will be attractive to many large and small captive managers out there who find the current inability to process applications in a timely manner through the system, affects their ability to service their clients.”
