Nevis

Nevis

Nevis is a well-adjusted and regulated domicile highlighted by proper licensing criteria, efficient processing and responsive staff all based on a unique legislation that adheres to the international standards of insurance supervision. This jurisdiction allows for each company to be regulated accordingly through a risk based supervision model.

[Last updated: 21/07/16]
Regulatory contact:
Phil Jones
Registrar of International Insurance
Regulation & Supervision Department
Nevis Financial Services
Ministry of Finance
Main Street, Charlestown
Nevis, West Indies
Telephone Number
1-869 469-1469
Email Address
pjones@nevisfsrc.com
Website
http://www.nevisfsrc.com/



Name of Captive Legislation
Nevis International Insurance Ordinance Cap 7.07(NIIO)
 
Year Legislation Passed
2004
 
Recent Amendments
Nevis International Insurance (Amendment) Regulations 2014
Nevis International Insurance (Amendment) Ordinance 2009
 
Do you allow Cell Captives?
No
 
Total Number of Licenced Captives 
292
 
Number of Cell Captives
N/A
 
Number of licences granted in the past year (2015 calendar year)
38
 
Approximate (or Average) length of time to process a new captive 
Between 10 and 14 working days
 
Captive tax rates
N/A
 
Minimum capitalisation rate
$10,000 - $50,000
US$10,000           Single-Owner Captive
US$20,000           Less than 5 Owners Captive
US$50,000           5 or more Owners Captive
 
Licencing fees 
$3,400 flat rate
 
Industry sectors best represented in the domicile 
Healthcare
Food
 
Top 5 uses for captives in the domicile
General liability
Contingent business interruption
Administrative actions
Litigation expenses
Loss of key employee
 
 
Total premiums received by the Captives
$296 Million
 
Total value of assets under management
$1.3 Billion
 
Captive Insurance Managers registered to conduct business in the domicile
Active Insurance Management Limited
Alternative Risk Management Services, Inc.                       
AMS Insurance (Nevis) Limited                 
Artex Risk Solutions, Inc.             
Atlas Insurance Management (Nevis) Limited                    
Blue Water Insurance Management, LLC              
Cambridge Management Limited            
Fidelis Management, Inc.
Gibraltar Trust Co. Ltd.  
Heritor Management Ltd
Hyperion Insurance Management (Nevis) Limited           
Lighthouse Captive Management Ltd    
Occidental Insurance Management, LLC               
Risk International Captive Managers Inc.
Risk Management Advisors, Inc                
RMC Consultants Ltd                     
Spectrum Management & Consulting Ltd.           

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