Business Services Industry
Turks & Caicos reorganizes regulatory structure.(Spotlight)
Business Insurance, March, 2003 by McLeod, Douglas
Byline: DOUGLAS McLEOD GRAND TURK, Turks & Caicos Islands-The Turks & Caicos Islands saw further growth in its captive insurance sector last year as the government revamped its regulatory structure, the islands' insurance regulator reports. The number of captives registered at year-end 2002 grew to 143 from 134 registered at the end of the previous year, according to Albert P.
Smith, the domicile's superintendent of insurance. The totals do not include more than 2,000 credit life insurers licensed in the Turks & Caicos. The Turks & Caicos government last year reorganized its financial services regulatory functions to follow recommendations in a KPMG L.L.P. study of regulation in Caribbean domiciles. Among other things, the government created a Financial...
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