Insurance domicile ‘grows amid pandemic’
Article by February 16, 2021
Even as the COVID-19 pandemic crippled economies and industries around the world in 2020, the insurance industry in Barbados grew, dominated by international firms, business experts revealed Monday.
The disclosure was made at the launch of the Barbados International Business Association’s inaugural Barbados Risk and Insurance Management (BRIM) virtual conference.
Last year they were 60 new entrants into the insurance industry in Barbados, said BIBA president Derrick Cummins, as he pointed out that Barbados continued to be one of the top markets for the world’s insurance business.
Cummins said: “Barbados continues to distinguish itself among the top 10 domiciles for captive insurance business globally and while we regret not being able to showcase in person all that Barbados has to offer to an international audience following on the heels of the highly successful virtual Global Bu