International Insurance Center
Since 2005, the International Insurers and Reinsurers Division of the Office of the Commissioner of Insurance of Puerto Rico (OCI), or the International Insurance Center (IIC), propels Puerto Rico as an important member of the international insurance arena. Due to the many advantages, Puerto Rico is a logical portal for insurers and reinsurers from Latin American, Europe and other international markets.
The Government of Puerto Rico adopted this new initiative and incorporated it as part of economic agenda for the 21st Century. The International Insurers and Reinsurers Division is under the Supervision of the OCI. The Department of Economic Development and Commerce oversee the promotion of this facility and the extension of tax decrees, herein explained.
The experience offered by other jurisdictions close to Puerto Rico, has demonstrated that the development of international business centers, such as offshore venues, have provided viable opportunities for efficient and effective economic growth for countries and economies in search of these goals.
