Insurance Industry Overview

According to the 2018 Financial Stability Report, insurance companies remain the second largest players in Barbados’ financial system with combined assets of $4.22 billion.

​

The Insurance Industry Regulators

The Insurance industry in Barbados is regulated by the Financial Services Commission (click here for website).

 

The Financial Services Commission (FSC) was established on April 1, 2011, pursuant to the Financial Services Commission Act, 2010- 21.  The FSC is an integrated regulatory body, and is run by a Board of Commissioners.

 

The FSC has taken over the responsibilities and functions previously discharged by the former Securities Commission, the Supervisor of Insurance and Pensions and the Cooperatives Department in so far as it relates to credit unions.

​

The functions of the FSC are set out in the  FSC Act.

​

​

​

​

​

​