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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Barbados: “Gateway to Latin America” and Its Concerns for the Future

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May 11, 2015

The Barbados International Finance & Business 2015 edition has several excellent captive-related articles recommended for reading.

In the article titled "Barbados—the Gateway to Latin America,” author Dustin Delany outlines how Barbados has effectively entered into double taxation agreements (DTAs) with numerous Latin American countries. Barbados has 34 DTAs that have helped it attract 189 active exempt insurance companies and 42 active qualifying insurance companies—55 percent of which originate from Canada and 26 percent from the United States. “The Barbados Government recently announced the prospect of entering into negotiations with Guatemala, and it is felt that this trend will continue as Barbados continues its quest for hemispheric integration, building upon its role in the globalisation of the world’s economy,” Mr. Delany states in the article.

The G-8, G-20, and Organisation for Economic Co-operation and Development (OECD) agendas are of great concern to captive domiciles worldwide. The 2015 issue includes an article written by Ben Arrindell about their impact on Barbados. He argues, “There is a concern that this latest initiative, together with the work of the Global Forum on Transparency and Exchange of Information, will have a significant negative impact on Barbados.” His concern is negated somewhat by the fact that, as an International Finance Centre (IFC), Barbados has never relied on the absence of information exchange or double taxation agreements. “However, it is expected that the continued international focus on IFCs will make it more difficult in the future for Barbados to obtain DTAs with OECD countries," Mr. Arrindell's article states.

See Barbados Insurance Licensing and Registration requirements.

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