Cayman captures market share of captives

| 20/12/2015 | 0 Comments

(CNS Business): The Cayman Islands Monetary Authority revealed that Cayman’s market share in captives, despite greater competition among other domiciles is on the up. Speaking at the 23rd annual Cayman Captive Forum the regulator’s Deputy Managing Director of Operations, Patrick Bodden said that of the 742 international insurers regulated by CIMA as at September 2015, there were 679 Class Bs, 31 Class Cs (special purpose vehicles) and 1 Class D.

At the end of the third quarter of 2015, the total premiums of international insurers were US$12.5 billion, total assets were US$58.1 billion and the net income represented US$1.8 billion.

With an audience of more than 1500 delegates, the CIMA insurance expert joined a line-up of speakers who ‘millennials’ and the social, economic and professional impact on society, cyber-crime threatening the captive sector such as employee targeted email phishing and social engineering.

Cayman Captive Forum chairperson Erin Brosnihan said the goal was to deliver a quality, education-based conference. “We were fortunate to have a roster of the industry’s most well-respected experts and top-notch keynote speakers, all wrapped up with excellent networking opportunities.  The feedback has been outstanding and we are already looking at new ideas for next year,” she said.

For more information on the Forum and Cayman’s captive insurance industry, visit www.caymancaptive.ky.

Category: Uncategorized

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