Finance & Banking

The TCI offer a well-defined regulatory framework within which to operate a comprehensive range of financial activities including banking, insurance, trusts, mutual funds, investment dealing companies and partnerships to the international business community. TCI is home to reputable, international financial services brands such as Scotiabank, CIBC and Royal Bank of Canada along with many other financial service providers.

The insurance market is an important sector and a growth area in the TCI financial services industry. The TCI has developed a niche market for captive insurance companies known as “credit life” or “producer owned reinsurance companies” (PORCS). The TCI insurance legislation provides for these low cost reinsurance companies to be licensed and used by direct writers that are regulated by the regulatory authorities in the United States.