Captive insurance companies (“Captives”) continue to be an extremely important element of the general insurance industry. There are over 7,000 captives globally with over 70 domiciles having captive legislation in place. Captives are an important part of the risk management toolkit for major corporations. Approximately 80% of the S&P 500 companies have their own captive subsidiary.
The Caribbean is home to two of the largest domiciles for captive insurance registrations in the world – The Cayman Islands and Barbados. As organizations’ understanding of risk deepens and their strategies become more sophisticated, companies have increasingly seen the benefit of adding captive insurance structures to their corporate risk management toolkit. RBC is proud to have supported the Captive industry in our markets for over 20 years. Serving over 200 clients, North American companies from across a wide cross section of industries, have turned to RBC to support their captive insurance companies in the Caribbean. From assisting with fronting requirements through letters of credit structures to banking and investment products, we have the resources, the expertise, and the experience to ensure that you are provided with a first-class holistic solution.