The chief executive officer of the Financial Services Commission in Barbados, Warrick Ward, says while Canada continues to be the main source market accounting for 51 per cent of captive insurance companies, Barbados' attractiveness as a global hub for captive insurance companies continues to grow.
He says with the United States accounting for 25 per cent of the global market, Barbados has been able to secure almost $50 billion in assets under management up to September 2024, while another $123.8 billion in other classes of insurance are managed on the island.