Hedge fund-backed Greenlight Re's strategic review process is not yet complete, according to CEO Simon Burton, as the reinsurer posted a loss for both the full year and Q4 2019.
The Cayman Islands Monetary Authority (CIMA) issued 33 new insurance licenses in 2019, matching the number of new licenses issued the previous year.
Accountancy, tax and advisory firm Grant Thornton has established a new tax practice in the Cayman Islands and appointed Chris Willemse to lead it.
Collas Crill Corporate Services (CCCS) has appointed Charlotte Cloete as managing director.
The Cayman Islands Monetary Authority (CIMA) has issued 13 new captive re/insurance licenses in the first quarter of 2019, and a further three to-date.
The Cayman Islands Monetary Authority (CIMA) issued 33 captive insurance licenses in 2018, and surrendered 26, bringing the total to 703.
Randall & Quilter has started 2019 by completing two new transactions relating to exit solutions in the self-insurance and captive markets.
The group captive sector in the Cayman Islands is growing, as more middle market companies leave the traditional insurance market in favour of these structures, as highlighted by Erin Brosnihan, chair of the Insurance Managers Association of Cayman (IMAC), speaking at the Cayman Captive Forum 2018.
Specialty and commercial insurer Crum & Forster has set up a captive facility in the Cayman Islands through its health division.
Captive insurers in Bermuda, the Cayman Islands and Barbados (BCIB) have persistently strong operating results that continued to outperform the US commercial market sector, according to AM Best.