Most Trusted Insurance Regulatory Enabler – The Bahamas 2025
The Insurance Commission of The Bahamas (ICB) is the independent regulatory authority responsible for supervising and regulating the insurance industry in The Bahamas. Established under the Insurance Act, 2005, the Commission promotes the growth, integrity, and stability of the sector by ensuring sound business practices, protecting policyholders, and enforcing legislative compliance. The Commission oversees the licensing and regulation of domestic and international insurance companies, intermediaries, and salespersons. It also administers the External Insurance Act, 2009, and enforces standards in areas such as solvency, corporate governance, anti-money laundering, and market conduct. The ICB is led by Superintendent of Insurance Dana Munnings-Gray, under the direction of a Board of Commissioners appointed by the Minister of Economic Affairs. Dr. Keith Major is the Chairman, and Dwayne Mortimer is the Deputy Chairman. The leadership team brings decades of experience in insurance supervision, financial regulation, and law and is committed to advancing regulatory excellence and innovation. As an active member of the International Association of Insurance Supervisors (IAIS) and other key international and regional bodies, the Commission works to ensure that The Bahamas remains aligned with evolving global best practices. Through principled regulation, industry engagement, and a forward-looking approach, the ICB supports the continued development of a resilient and competitive insurance market.
