Does the insurance legislation include provisions for special categories of captives or Rent-A-Captives, Risk Retention Groups, etc.?

The Insurance Act, 2008 does not define categories of captives nor does it provide restrictions on the type of captives that can be formed.  Therefore, rent-a-captives and risk retention groups can be formed. 

Insurance SPCs may be formed under provisions contained in the BVI Business Companies Act, 2004. 

Contact Information

British Virgin Islands Financial Services Commission

Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.