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The Anguilla Proposition
Classes of Insurance Licenses
Forming an Anguilla Insurer
Contact Person
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The Anguilla Proposition
Anguilla
enacted new insurance legislation in 2004 designed to appeal to those previously attracted to the other
overseas British territories of the Cayman Islands and the British Virgin Islands.
Building
upon the huge success of its on-line corporate registration system (ACORN), Anguilla sought to extend
its appeal to a broader and more added-value base by offering a new Insurance Act and a friendly approach.
With
two gateway routes (Puerto Rico & St Maarten) Anguilla is accessible and offers upscale hotels,
great restaurants and a championship golf course is under construction.
Highlights
include: - Common law British style
legal system
- Both US$ and the EC$ are official
currencies
- Low bureaucracy and highly accessible
regulator
- Eastern Standard Time + 1 hour (GMT
– 4 hours)
- No requirement for resident directors
- Flexible range of license classes with commensurate
required capital requirements
- General (property
& casualty) licenses may include life cover under 5 years duration
- Sensible
approach to admissible assets and solvency
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