Bermuda Captive Insurance License
- Insurance cover is only available to the parent and affiliates of the captive
- Its owners/participants are usually not insurance companies
- It is a licensed insurance company and operates under a different regulatory system than commercial insurers
- Insureds generally require less policyholder protection than the general public
Legal Requirements
Requirements |
Description |
General |
|
|
Protected Cell Company (PCC) |
|
No |
Share capital or equivalent |
|
|
USD 120,000 to USD 4,000,000 |
Directors |
|
|
1 |
|
Yes |
|
No |
Shareholders |
|
|
1 |
|
Yes |
|
No |
Service Providers Required |
|
|
No |
- Largest captive domicile
- Robust yet flexible regulatory environment
- 3rd largest insurance centre worldwide
- Blue chip offshore financial centre
- One stop shop – access to insurance and reinsurance markets
- Professional infrastructure and quality of workplace
- Legal System
- Tax neutrality and Tax Exchange Agreements
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers