Forming an Anguilla Insurer

In common with most jurisdictions, Anguilla requires its licensed insurers to observe some basic standards that ensure quality control. These include:

Ownership & Directors

Anguilla insurers must be an Anguilla incorporated company and may be owned by individuals, corporations or a trust.  There must be at least two individual directors but they need not be insurance experts – the company simply has to have some insurance expertise available to it.  We’ll provide the necessary expertise.

Capital & Solvency

Requirements vary according to who’s going to own the insurer and how broad its base of policyholders is going to be.  The wider its market, the higher the required capital will be.  The separate classes of license are described fully on the next page.

Insurance Managers, Auditors, & Registered Agents

Each insurer must have some professional service providers accountable to the local regulators that look after the company and file the necessary reports under the Insurance Act.  ATU is licensed to provide the insurance management and corporate formation and agent services, but the audit firm must be independent and they file an audit report each year.  Insurers don’t generally need an actuary unless they are writing life business.

Downloads

Below you’ll find a set of specimen license application forms and a copy of the Insurance Act, 2004.  Since each application is different, we help put everything together on an individual basis.
The downloads are given here only as a guide to familiarize you with some of the principal requirements.

All applications have to go through a licensed Insurance Manager anyway.

                                                           
                      Specimen License                           Insurance Act 2004
                      Application Form
                     PDF-File (112 Kb)                            PDF-File (210 Kb)

Fees Required

As each application is different, we quote for each proposal on individual merit.  Please contact us for an individual consultation.

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