The Insurance Division

The Insurance Division is responsible for the supervision and regulation of insurance business conducted in or from within Barbados, as authorised by the Financial Services Commission Act, 2010-21; and the Insurance Act, Cap. 310.

The Division’s specific duties include:

  • assessing persons who apply to be licensed as insurance companies; insurance intermediaries such as agents and brokers; holding companies; and insurance management companies to determine if they are fit and proper and meet the criteria to be licensed
  • supervising and regulating licenced entities
  • monitoring licencees for compliance
  • providing statistical and other information to the FSC’s stakeholders


The Financial Services Commission is a member of the following insurance related regional and international organisations:

  • Caribbean Association of Insurance Regulators (CAIR)
  • International Association of Insurance Supervisors (IAIS); and
  • Group of International Insurance Centre Supervisors (GIICS).