Crum & Forster opens captive facility in Cayman

Specialty and commercial insurer Crum & Forster has set up a captive facility in the Cayman Islands through its health division.

The new entity, Crum & Forster SPC Captive, will allow the insurer to issue offshore insurance policies as well as facilitate reinsurance transactions.

This service will be provided for various clients including but not limited to policyholders, agents and managing general underwriters.

“We are very excited about this new legal entity and view it as a real opportunity to grow our business in the offshore insurance and alternative risk transfer market over the next several years and beyond,” said Gary McGeddy, president of accident and health.