Delegates at the 2017 Cayman Captive Forum have been officially welcomed on behalf of the Cayman Islands Government, with a speech from the Right Hon Roy Mctaggert, Minister of Financial Affairs.
The 2017 Cayman Captive Forum has opened with Erin Brosnihan, vice chair of IMAC, welcoming attendees. She said that that she was proud and excited to recognise the milestone of 25 years of the conference, which has gone from its inaugural event where a few dozen attended, to now attracting over 1400 delegates. Brosnihan claimed that this year’s forum was the biggest yet, making it the leading attended captive conference in the world.
Artex Risk Solutions has announced the acquisition of Chandler Insurance Management for an undisclosed sum.
The Cayman Islands insurance industry has issued 23 new insurance licenses so far in 2017, as of October 9.
AM Best has affirmed the financial strength rating of A (Excellent) of Castle Harbour Insurance, Harrington Sound Insurance and Colliers Bay Insurance.
Ratings agency AM Best has affirmed the financial strength rating of A (Excellent) of Spirit Insurance Company and, based in Vermont, and Radius Insurance Company, based in the Cayman Islands. The outlook of these ratings is stable.
Randall & Quilter (R&Q) has completed a novation of reinsurance policies issued between 2006 and 2011 from a group captive domiciled in the Cayman Islands.
Recent natural disasters have shone a spotlight on captive insurance, which can play an important role in helping organisations defray some of the related financial losses, according to Anne Marie Towle, executive vice president and captive consulting practice leader at JLT Insurance Management.
One of the strengths of the Cayman Islands as a domicile is its team approach to captives, according to Julie Robertson, partner and chair at Honigman Miller Schwartz and Cohn.
Cayman Finance CEO Jude Scott has finished a two week visit to London to promote the Cayman Islands financial services industry and its role within the global financial economy.