The Cook Islands is rapidly gaining recognition as a premier jurisdiction for captive insurance in the Asia-Pacific region. Since the enactment of the Captive Insurance Act in 2013, the nation has established a robust legal framework that combines flexibility with stringent regulatory standards, attracting interest from corporations in New Zealand, Australia, and beyond.

Recent developments underscore this growth trajectory. Lockton Companies NZ Limited, a prominent insurance broker, has secured regulatory approval to operate as a captive insurance manager in the Cook Islands. This move enables Lockton to offer tailored risk management solutions to clients in the region, leveraging the Cook Islands’ favorable regulatory environment.

The jurisdiction’s commitment to international compliance is evident through its alignment with global standards such as FATCA, CRS, and BEPS. Innovative legislative measures, including the Income Tax Amendment Act 2021, have been implemented to ensure transparency while preserving client confidentiality. These efforts reinforce the Cook Islands’ reputation as a secure and compliant financial center.

As the global demand for customized insurance solutions continues to rise, the Cook Islands is well-positioned to meet these needs. Its strategic location, modern legislation, and dedication to regulatory excellence make it an attractive destination for businesses seeking effective risk management through captive insurance structures.

Read the Full Article Here >> Online PDF

Full Captive Insurance Publication Here >> Online Publication