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Puerto Rico adopted its International Insurance Center Legislation in 2004 under the regulatory supervision of the Insurance Commissioner’s Office. The latter is an NAIC-accredited regulator and a member of ASSAL (Asociación de Superintendentes de Seguro de América Latina). The legislation’s intent has been to attract specialty insurers and reinsurers of both US and non-US risks, by providing a flexible regulatory structure and a low tax environment analogous to that which is offered by traditional jurisdictions of choice for similar ventures.

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