BFSB and the Insurance Commission of The Bahamas (ICB) collaborated with KPMG on a Captives benchmarking exercise including a travel cost and time analysis. Also included is a summary of regulatory requirements and costs across jurisdictions.
Note: The Bahamas is the closest destination to Miami International airport with travel time of approximately 52 minutes at an average cost of $397. Miami is the gateway to South America and therefore a convenient travel hub to The Bahamas. Captives based in The Bahamas benefit from low travel cost and travel time, which reduces operating costs.