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Insurance Overview



The Insurance Ordinance 1998, CAP 16.06 and the Insurance Regulations 1999, CAP 16.06, herein referred to as the “Insurance Ordinance,” governs insurance business. The Insurance Ordinance covers the licensing and regulation of companies undertaking domestic insurance business, international insurance business, and intermediaries involved in insurance business.


No business or person can undertake insurance business in or from within the Islands without a licence granted under the Insurance Ordinance. These are a number of different licences that may be granted under the Insurance Ordinance, the type of which is based on the nature of the applicant’s business. Types of licences include:

Domestic Insurance

  1. Insurance Company Licence
  2. Agent Licence
  3. Broker Licence
  4. Sub Agent Licence
  5. Principal Representative

International Insurance

  1. Producer Affiliated Reinsurance Company
  2. Captive Insurance Company
  3. Insurance Manager’s Licence


All persons and businesses wishing to obtain a licence to carry on the business of insurance should ensure they meet the licensing requirements as set out by the Insurance Ordinance prior to the submission of an application. Applications for an insurance licence should be made to the Commission on the approved forms applicable, along with the required documents.