Cayman Captive Forum celebrates 30 years of success
The Cayman Captive Forum has formally opened at the Ritz-Carlton, Grand Cayman, celebrating its 30th anniversary.
Welcoming delegates to the 2023 Cayman Captive Forum, Lesley Thompson, managing director (Cayman Islands) at WTW and chair of the Insurance Managers Association of Cayman (IMAC), said that 2023 had flown by and that it had been a great year for Cayman.
Thompson also used her opening comments to confirm that Kevin Poole has been appointed general manager of IMAC, replacing William “Willie” Forsythe, who retired this year after nearly 15 years of service to the jurisdiction’s captive insurance industry.
She confirmed that the 2023 Forum had around 1,500 delegates registered for the event and that it was going from strength to strength as it celebrated its 30th anniversary.
Thompson also pointed out that International Center for Captive Insurance Education (ICCIE) is celebrating its 20th anniversary and praised the work that it does. She also pointed out that a number of sessions at the forum qualify attendees for ICCIE credits.
Thompson said that Cayman continues to be the domicile of strength for captives and had seen growth over 2023. Growth down to people on the islands – depth of strength in the business community from actuaries to lawyers. She said that the elements were present for future growth.
André Ebanks, Minister for Financial Services & Commerce, Cayman Islands Government, also welcomed delegates, saying that it was amazing that a country as small as Cayman now hosts one of the biggest captive conferences in the world. Ebanks thanked delegates for coming to Cayman again and again and bringing so much business to Cayman.
Ebanks said that the size of the captive market is now huge and spans the globe. He added that insurance, and especially healthcare insurance, is a vitally important area for so many people all over the world.
He also stressed the work that Cayman is doing to keep it at the forefront of the captive insurance industry, and as a business centre, with an increasingly global presence.