Cindy Scotland, managing director of the Cayman Islands Monetary Authority, explains how the Cayman captive sector is poised to benefit following the introduction of the US Affordable Care Act.
Formed to promote the development of the Cayman Islands financial services industry, Cayman Finance has been instrumental in the growth of the captives sector in Cayman in recent years—and also helped it overcome some of the challenges it has faced. Here, Jude Scott, chief executive of Cayman Finance, gives his take on the captive sector’s importance to Cayman and how collaboration has been key to its enduring success.
Between regulatory changes and promotional visits to international markets such as Canada, it has been a busy 12 months for the Insurance Managers Association of Cayman. But through working smarter and harder and through greater collaboration, the future is bright for the Cayman Islands captives sector, says its chairman Kieran O’Mahony.
The government and the financial industry, including the captives sector, are committed to furthering the fortunes of the Cayman economy and its residents, and doing it well, as the Cayman Islands’ Minister of Financial Services Wayne Panton explains.