Domicile Captive Insurance Businesses
A captive insurance business is an insurance company that is wholly owned and controlled by the insured. The company’s objectives are to provide themselves with better insurance coverage at lower costs (by avoiding the commercial insurer’s expenses and profit margins).
Cayman Islands is a leading offshore domicile for captive insurance companies as it has modern straightforward insurance laws, user-friendly regulation, low minimum capitalisation requirements, an accessible regulator, and experienced insurance professional service firms.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2