BVI FSC Releases Updated Annual Return Forms For Insurance Sector

• Published date: 02 April 2024
• Subject Matter: Finance and Banking, Insurance, Financial Services, Insurance Laws and Products
• Law Firm: Harneys
• Author: Mr Aki Corsoni-Husain, Mirza Manraj, Ayana Hull and Kimberly Seagojo

On 16 January 2024, the BVI Financial Services Commission announced the release of updated annual return forms, in an effort to enhance reporting efficiency and compliance within the insurance sector.

The revised forms include the Domestic Insurance Business Annual Return, Captive Insurance Business Annual Return, Insurance Intermediaries Annual Return, and Insurance Manager Annual Return, all of which are mandated by the Financial Services (Prudential and Statistical Returns) Order, 2009.

Insurers, Insurance Intermediaries, and Insurance Managers are urged to take note of these updates and ensure compliance with the submission deadline. According to the FSC's...