The captive insurance industry has generated$338,000,000 in corporate income tax revenue since the establishment of the captive programme, according to Steven Baker, president of Micronesia Registration Advisors (MRA).
Baker made the comments at a breakfast meeting during the 2026 Federated States of Micronesia (FSM) captive insurance seminar in Tokyo, which was also attended by Wesley Simina, president of the FSM.
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