BASSETERRE, ST. KITTS, OCTOBER 16, 2006 (CUOPM)
St. Kitts’ Financial Services received a significant boost world wide, when it was featured in the United States World Business Review on CNBC hosted by General Alexander Haig on Sunday.Captive insurance companies are established to serve specific needs within a larger, parent corporation. These companies’ insurance arrangements must be above-board and must distribute risks adequately. With no legislation to enable this, smaller captive insurance companies are at risk. New legislation and competent government providers can help.
Director of Marketing and Development explained, Shawna Lake said “since the closure of the sugar industry in St. Kitts our main natural resource is our people. Therefore the provision of efficient and effective services, particularly in the financial services and tourism sectors, is now the primary focus of the Government of St Kitts.”
Co-ordinating producer Robert Stalzer added, “When researching the latest developments in insurance legislation, St. Kitts Financial Services consistently came up as being in touch with the most current advancements in this area. They were a natural to appear on this edition of World Business Review.”
St. Kitts, one of the more recent international financial centres to emerge in the world, can offer every investor what he or she is looking for. This small tropical island in the heart of the Caribbean is the home of the Eastern Caribbean Central Bank and the Eastern Caribbean Stock Exchange, which are two important pillars of the regional financial sector.