Business Services Industry
Turks & Caicos Islands adding captives, managers.(Brief Article)
Business Insurance, February, 2002 by Mcleod, Douglas
PROVIDENCIALES, Turks & Caicos Islands-The are betting that the addition of new captive managers in the domicile will boost captive growth after a slow 2001. KPMG Insurance Managers Ltd., an affiliate of international accounting firm KPMG L.L.P., and Global Insurance Managers & Actuaries Ltd.
have opened offices in the Turks & Caicos, bringing the number of management companies operating there to five, reports Superintendent of Insurance Harold Wong. Although the hardening commercial property/casualty market will increase interest in captive formations, the quicker way to expand is to attract new management companies with existing clientele and worldwide contacts, Mr. Wong suggested. ``This is an area we are actively pursuing,'' he said. ``We anticipate...
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