The Financial Services Commission of Barbados has launched a public consultation aimed at bolstering the jurisdiction’s position as a leading global domicile for captive insurance.
The initiative seeks to assess stakeholder perceptions of Barbados and identify areas where the regulatory and administrative environment can be improved to meet evolving market needs.
Barbados is currently ranked among the world’s top ten captive domiciles, supported by a wide network of double taxation agreements, favourable operational costs, and flexible solvency rules.
The consultation reflects the Commission’s broader ambition to modernise the regulatory framework, enhance service delivery, and align with international best practices in financial services.
It is also intended to support long-term economic growth by attracting new entrants and investment to the captive insurance sector.
The consultation document poses targeted questions on potential reforms, including legal recognition of alternative structures such as limited partnerships and protected cell companies.
Stakeholders are also invited to comment on whether current capital requirements may act as a barrier to new formations or expansions, and how licensing timelines and administrative procedures could be streamlined.
Suggestions are being sought on measures to improve cost competitiveness, clarify the application of the Insurance Act to captives, and introduce new resources or guidance to support market participants.
In addition, the Commission is examining the potential economic spillover benefits of an expanded captive insurance sector, such as increased demand for financial and professional services.
The consultation is open to existing captive owners and managers, prospective market entrants, insurance professionals, legal and financial advisors, and business associations.
Responses must be submitted by email to fsccaptiveconsultation@fsc.gov.bb by 30 September 2025.
The Commission will review the feedback and consider amendments to the current framework in line with stakeholder input.
 Captive Consultation Banner Ads 800x1200 MM.jpg)
