Table of Content




1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions

2 GOVERNCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Persol accident and health insurance
2.4 Compulsory Insurance
2.4.1 Motor third-party liability (bodily injury) insurance
2.4.2 Liability for shipowners in respect of oil pollution
2.5 Supervision and Control
2.5.1 Intertiol Association of Insurance Supervisors
2.5.2 Central Bank of Curacao and St Maarten
2.6 Non-Admitted Insurance Regulations
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Pelties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Altertive dispute resolution (ADR)

3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData’s Services
3.5 Disclaimer



List of Figures



Figure 1: Curacao and St Maarten - Insurance Supervision and Control at Various Levels
Figure 2: Curacao and St Maarten - Insurance Regulatory Frameworks for Company Registration and Operation


List of Tables



Table 1: Insurance Industry Definitions
Table 2: Curacao and St Maarten - Insurance Regulatory Framework Key Features
Table 3: Curacao and St Maarten - Life Insurance Regulatory Framework
Table 4: Curacao and St Maarten - Property Insurance Regulatory Framework
Table 5: Curacao and St Maarten - Motor Insurance Regulatory Framework
Table 6: Curacao and St Maarten - Liability Insurance Regulatory Framework
Table 7: Curacao - Corporate Tax Rates for the Financial Year 2021
Table 8: St Maarten - Corporate Tax Rates for the Financial Year 2021