Barbados introduces a new regulatory framework for its insurance industry, bringing in a risk-based capital regime through the Insurance (Amendment) Act, 2025. The legislation, passed by Parliament, marks a significant shift in the country's insurance regulatory landscape. The Financial Services Commission (FSC) has issued an Information Bulletin to inform stakeholders of the changes and the interim measures in place while the new standards are implemented. The key updates include strengthening statutory fund requirements and introducing a risk-based capital and solvency regime for all insurers. This move is central to the country's effort to enhance the stability and compliance of its non-bank financial sector. The new framework is intended to ensure ongoing compliance with Commission regulations and maintain good standing. According to the FSC, staying informed through these notices is essential for regulated entities and licensees. The Commission encourages all registrants and licensees to regularly review the regulatory notices section for the latest guidance
