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The Anguilla Proposition
Classes of Insurance Licenses
Forming an Anguilla Insurer
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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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