Madison International
About Us
Madison International Insurance Company I.I. was formed in 2016 for the purpose of providing specialty property and casualty insurance solutions for small and middle-market businesses.
Madison International is a licensed and regulated International Insurer located in the U.S. Commonwealth of Puerto Rico. It is regulated by Puerto Rico's Office of the Insurance Commissioner, which is both an accredited member of both the National Association of Insurance Commissioners (NAIC) and the Asociación de Supervisores de Seguros de Latinoamérica (Assal). Act 399 and Act 400 in Chapter 61 of the Puerto Rico Insurance Code were adopted in order to establish the basis for the International Insurance Center (IIC), which provides a competitive environment for insurers and reinsurers to cover risks outside of Puerto Rico, under a secure and flexible regulatory system, with attractive tax benefits.
Madison International is proud to be one of nearly 400 domestic insurance companies and 20 international insurance companies within the burgeoning jurisdiction of Puerto Rico, contributing to a combined net written premium of over $12 billion.
Puerto Rico international insurance regulations provide the ability for non-locally owned insurance entities to offer international insurance from a NAIC accredited domicile. Under these regulations, the robust capital requirements needed in order to qualify as an international insurer are substantially higher than the amount required in most domestic mainland jurisdictions.