19 May 2014Cayman analysis

Cayman captive insurers attend RIMS 2014

Representatives from the Cayman Islands captive insurance industry made an impact at the RIMS conference in Denver, Colarado.

Members of the Insurance Managers Association of Cayman (IMAC) and members of the Cayman Islands Monetary Authority (CIMA) were out in full force to talk to conference delegates about the benefits a Cayman captive could afford their companies, and to provide answers on the practical and technical aspects of setting up and maintaining a captive in Cayman.

Robert Leadbetter, IMAC chairperson, states, "The annual RIMS conference is a wonderful opportunity to network with people from our largest captive market. We use this time to engage with our clients and colleagues, discussing industry trends and how Cayman can efficiently satisfy the needs of the market."

Lance Davenport, director of safety & risk management from Larry H. Miller Management Corporation was the lucky winner of the RIMS 2014 business card draw.

The prize consists of complimentary accommodation at The Ritz-Carlton, one complimentary full forum pass and one complimentary networking pass for a spouse or spousal equivalent to the Cayman captive forum.

The 2014 Cayman captive forum will run from December 2nd to December 4th. Last year’s forum played host to 1,300 specialists discussing issues most pressing to the captive insurance industry.

A team of IMAC representatives will next be attending the Canadian captives & corporate insurance strategies summit in Calgary, Alberta, from the 28th to the 29th of May. The Cayman Islands are increasingly becoming an attractive destination for Canadian corporations, which are able to take advantage of the robust regulatory environment, legislative infrastructure, and the quality and strength of the service providers who serve the industry.

With a Tax Information Exchange Agreement (TIEA) between Cayman and Canada firmly in place, Cayman is ideally situated to benefit Canadian companies as this agreement gives Cayman an advantage over other jurisdictions.