Monkton Insurance Services Limited

Costs of establishing and operating a captive insurance company in Barbados

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Establishment Costs (in US Dollars)

Insurance Licence Application Fee            $2,500
 (and first year licence fee)

Legal and Professional Fees                  $4,750

Government Incorporation Fee                   $650

Total                                        $7,900

Operating Costs (in US Dollars)

Insurance Licence Fee                        $2,500

Audit Fee                                    $5,000

Corporate Secretarial Fee                    $1,250

Captive Management Fee (from)               $20,000

Local Director's Fee                         $1,000

Communications Costs                         $1,000

Annual Meeting Expenses                      $2,000

Total                                       $32,750