10 September 2016Cayman analysis

Cayman to build presence at RIMS conference

The Cayman Islands captive insurance industry will attend the 2016 Risk and Insurance Management Society (RIMS) Canada Conference which is being held in Calgary, September 11 to 14.

A team of members from the Cayman-based insurance managers, law and audit firms and investment and banking institutions will be explaining the benefits of doing business in Cayman.

With more than 600 delegates expected to attend RIMS this year, it is an opportunity for Cayman to reinforce its status within the captive insurance arena.

Kieran O’Mahony, chairperson of the Insurance Managers Association of Cayman (IMAC), said: “Canada is a key market for Cayman Islands captives. With the 2011 tax information exchange agreement between the two countries, the strength of our legislative and regulatory infrastructure, and the extensive experience and expertise of our local service providers, Cayman offers Canadian companies a product that is well-tested and efficient.

“Our business cultures are similar and our laws are common law based, and with a number of Canadian captives already domiciled in Cayman we are excited to have this opportunity to continue the trend and to explore these synergies further.”