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British Virgin Islands

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British Virgin Islands

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s British Virgin Islands Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for the British Virgin Islands includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for the British Virgin Islands can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials

Country Information

Time-zone
Capital city
Currency
Population
latest GWP (USD
GMT-4
Road Town
USD
0.03
184.93

The BVI consists of over 50 islands, islets and cays, all of which except Anegada are volcanic in origin and rise precipitously from the sea. The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on financial services and tourism.

Non-life gross written premiums (excluding personal accident and healthcare) of USD 121.63mn in 2018 represented 65.77% of the total market figure. Property was the major line of business.

In October 2020 there were 37 licensed domestic insurance companies, split broadly evenly between those majoring in non-life business and those covering life and health classes.

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