Barbados FSC launches consultation on captive insurance regulation

Barbados’s Financial Services Commission (FSC) has launched a global public consultation inviting feedback on potential improvements to the regulatory and administrative framework governing captive insurance in Barbados.

In a statement the FSC said that as global demand for captive solutions continues to rise, it is set to engage directly with stakeholders on a plan to ensure Barbados remains an attractive destination for captive formation and management. 

This consultation is part of a broader move to enhance Barbados’ role as a hub for international business services, with Barbados currently ranked among the top ten captive insurance jurisdictions worldwide. 

Board chairman Oliver Jordan has emphasised that this consultation is an opportunity to listen to the industry and ensure the FSC’s framework remains aligned with the industry’s needs. “We are expecting to hear from existing captive owners and managers, prospective market entrants, insurance professionals, legal financial advisors, and relevant industry associations across the world,” Jordan added.

The FSC added that it is committed to maintaining a regulatory environment that is modern, transparent, and aligned with international best practices. Barbados is globally recognised for the simplicity of its regulatory approach, its legal and political stability, and its favourable business environment. “Being involved in this process will help us to continue to deliver the best service to you”, Jordan encouraged.

The consultation document is available at www.fsc.gov.bb/consultations and will remain open for responses until 30th September 2025, after which, the FSC will analyse the feedback shared.

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