Atlas Insurance Management has received approval from the Financial Service Commission of the British Virgin Islands to act as a resident insurance manager and will now expand its operations in the jurisdiction.

Atlas Insurance Management (BVI) Ltd has been formed as a joint venture between the principals of Bahamas based Atlas Insurance Management and Caribbean Insurers, the Territory's leading broker. The move is in response to strong demand for BVI captives.

Atlas's group Managing Director, Martin Eveleigh said: “The BVI is a well-regulated jurisdiction whose continuing popularity with captive owners and consultants makes it a place where we want to do business. Atlas will tailor its services to the needs of individual clients and will always aim to help captive owners and advisers maximize the benefits of having a captive.”