Does the insurance legislation include provisions for special categories of captives or Rent-A-Captives, Risk Retention Groups, etc.?

The Insurance Act, 2008 does not define categories of captives nor does it provide restrictions on the type of captives that can be formed. Therefore, rent-a-captives and risk retention groups can be formed.

Insurance SPCs may be formed under provisions contained in the BVI Business Companies Act, 2004.