According to the Anguilla Financial Services Association (AFSA), the jurisdiction has experienced a very positive response from the insurance industry regarding its Insurance Act, which has been in place for nearly a year.
According to figures released by the Anguilla Financial Services Commission, in the last two months, Anguilla has registered ten new captives. Most of Anguilla's new captives are companies providing insurance services to medical professionals, which has quickly become a niche market.
The Insurance Act was passed by Anguilla's government in September 2004. The new Act covers the licensing and regulation of domestic insurers, offshore or foreign insurers, particularly captive insurers, and of insurance intermediaries i.e. agents, sub-agents, brokers and insurance managers.
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