29 September 2023news

Cayman insurance representatives to appear at ASHRM

Three leading industry and governmental organisations will jointly represent the Cayman Islands at the American Society for Health Risk Management’s (ASHRM) annual conference.

The Insurance Managers Association of Cayman (IMAC), Cayman Finance, and the Cayman Islands Monetary Authority (CIMA) will send a combined delegation to the event for healthcare risk professionals on October 1-4 in Minneapolis, Minnesota.

“Healthcare remains an important part of the captive landscape and as the world’s largest healthcare captive domicile Cayman continues to see growth in this area,” said Lesley Thompson, IMAC chairperson. “This combined delegation is an innovative approach to promoting the jurisdiction, providing opportunities for existing or new captive clients to access expertise from across the financial services industry as well as hear directly from CIMA about Cayman’s regulatory framework.”

Cayman Finance also remarked on its participation in this event reflecting its commitment to promoting the insurance industry in Cayman.

“Cayman Finance is proud to be representing the Cayman Islands at this premier event in the vibrant city of Minneapolis, Minnesota. At Cayman Finance, we are committed to fostering meaningful connections and driving discussions that shape the future of the insurance industry. Our presence at ASHRM's Annual Conference underscores this dedication,” said Brittany MacVicar, associate director – insurance, Cayman Finance. “This event holds immense significance for us as we come together with industry leaders to strengthen our presence in the insurance sector. We eagerly anticipate engaging with fellow professionals, sharing valuable insights, and forging partnerships that will further advance the insurance sector and promote the jurisdiction.”

CIMA said that this kind of conference attendance provides opportunities for growth possibilities for the jurisdiction, where healthcare already accounts for the largest percentage of class of business of international insurance companies.

“Partnering with IMAC and Cayman Finance on conference participation like ASHRM allows for CIMA to meet with prospective and current licensees and network with key service providers,” said Kara Ebanks, head of division, Insurance Supervision Division, CIMA.  “One of CIMA’s strategic objectives is this kind of stakeholder engagement, which helps us follow industry trends and challenges affecting the healthcare industry and allows us to stay ahead of any key challenges affecting growth and current licensees which CIMA would need to factor into the regulatory framework and approaches.”