Nevis Insurance Companies
International insurance companies may be established in Nevis under the International Insurance Ordinance 2004. This Act provides a licensing regime for long-term insurance, general insurance, reinsurance and captive insurance companies.
Capitalization requirements for insurance companies are as follows:
- Long Term and General Insurance - US$185,000
- Reinsurance - US$ 75,000
- Single owner captives - US$ 10,000
- Less than 5 owners captive - US$ 20,000
- More than 5 owners captive - US$ 50,000
Other key features of the insurance regime include:
- Minimum margins of solvency for each type of insurance business.
- A requirement for appointment of a Nevis resident insurance manager (although the Registrar of International Insurance may, application, approve a non-resident insurance manager).
- Lodgment of audited accounts with the Registrar on an annual basis.
- Long-term insurance companies must file an actuarial valuation of assets and liabilities every three years.
Please follow the links below for more information on Nevis companies:
Nevis Limited Liability Companies