British Virgin Islands

 
Total number of active captives
Sign in to see more data
Number of active captives (pure)
51
Number of active captives (group/association)
16
Number of active captives (RRG)
3
Number of individual cells/cell participants
11
Total number of active captives, prior year
111
Types of captives allowed
  • Single parent captives
  • Association captives
  • Group captives
  • Protected cell/segregated portfolio companies
  • Special purpose captives
  • Special purpose financial captives
  • Microcaptives set up using 831(b) regulations*
Number of full-time employees in captive regulatory department
5
Annual fees
Sign in to see more data
Premium tax rate
Sign in to see more data
Premiums to surplus
Minimum solvency margin requirements: property/casualty insurers, (a) for less than $500,000 new written premiums - $100,000; (b) more than $500,000 but less than $5,000,000 - 20% of NWP; and (c) more than $5,000,000 - $1,000,000 plus 10% of the difference between NWP and $5,000,000. Life and health insurers: $250,000.
Minimum capital (broken out by type of captive)

Minimum capital requirement: property/casualty Insurers, $100,000; and life and health insurers, $200,000.

Applicable Acts/Enabling Legislation
Insurance Act, 2008; Insurance (Amendment) Act 2015; Insurance Regulations 2009; Insurance (Amendment) Regulations 2015; Regulatory Code 2009 and other regulatory and AML legislation.
Captive Administrator’s name and longevity in position and also within department
Sign in to see more data
Time given for application process
3 - 6 Weeks
Regulator
Sign in to see more data
Address and contact information of Regulatory Department
Sign in to see more data
Website Address
https://www.bvifsc.vg