Barbados Boosting Investor Offering

Barbados is taking steps to strengthen its position as a domicile for captive insurance through modernised legislation and improved business efficiency. These goals were highlighted at the launch of the Barbados Risk & Insurance Management Conference 2026 (BRIM 2026) by BIBA and its partners.
Financial Services Commission (FSC) Chief Executive Officer, Warrick Ward, and BIBA president, Marlon Yarde, said efforts are ongoing to ensure Barbados maintains its position as a leading market for insurance investors, including the captive niche. This includes revamping legislation and working with partners such as Invest Barbados to target specialised investment areas.
Ward noted that while there is still strong global interest in captive insurance and reinsurance, there remains a knowledge gap about how captives function, even in mature markets like Canada. He stressed the importance of stronger marketing and education efforts to attract the right investors and raise awareness of Barbados’ offerings.
Yarde emphasised that Barbados is globally competitive from a cost perspective but must continue improving operational efficiency. Initiatives through Business Barbados are aimed at streamlining processes so the jurisdiction can attract more international business and enhance competitiveness.
BIBA executive director Carmel Haynes highlighted opportunities for local entities, including cooperatives, to pool resources and establish captives or similar risk-sharing funds. She noted that while such models are common overseas, Barbados can adopt similar approaches to keep pace with global trends. She welcomed continued sponsorship support from firms including RBC Wealth Management, USA Risk Group, Summit Asset Management and WIM Wealth & Insurance Management, among others¹.

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¹Concorde Bank, Worldwide Reinsurance, DGM Captive Management Inc, Financial Services Commission, Active Re, Aon, SRS, Great Pacific and PricewaterhouseCoopers.

(Source: Nation News)