Our company was originally domiciled and incorporated in Belize, Central America, in May 2006 (Record # 52.339) under the International Business Companies Act—Chapter 270, and our license to operate international reinsurance was issued under the International Insurance Act—Chapter 269 (Docket No. INT.INS / 62 /15 /11).
After 5 years of continuous, successful, and profitable growth, we decided to relocate operations to Barbados, in the West Indies, to continue serving our clientele from a more robust insurance and reinsurance legislation, and the supervision environment and international business environment necessary to improve the reliability of our operations. We obtained a Certificate of Continuance No. 36565, covered under Section 356.2 (1) of the Companies Act, issued and authorized by the Financial Services Commission of that country under reinsurance License No. 532, granted under Section 8 (1) of the Exempt Insurance Act (CAP 308A).
The international legal structure of Barbados, as well as its international business practices and ambiance, and dual taxation treaties with many of the countries with which Ocean Re conducts business, coupled with its country risk rating, will improve our business and facilitate our services, while maintaining our cost base and operational flexibility.