1 October 2014Actuarial & underwriting

CIMA to host seminar with Fitch

The Cayman Islands Monetary Authority (CIMA) has teamed up with Fitch Ratings to co-host a seminar to raise the captive industry’s awareness of Fitch’s rating capabilities.

Fitch currently rates the securities of 92 different entities domiciled in the Cayman Islands.

Scheduled for October 22, 2014, the seminar will include topics such as a Fitch company overview, market perspectives, reinsurance market, ratings process/criteria, the insurance regulatory environment, and a Fitch/CIMA panel Q&A.

Sponsors of the event include Cayman Islands Insurance Association, Greenlight Re, RBC Wealth Management, Cayman Islands Society of Professional Accountants (CISPA), Walkers and Knighthead Annuity.

Anna McLean, deputy managing director, supervision, will make opening remarks on behalf of the Authority, while Fitch will be represented by Julie Burke, a managing director in the company’s North American insurance rating group; senior directors, Donald Thorpe and Jeff Mohrenweiser, and director, Brad Istwan.

Thorpe said that a major objective of co-hosting the seminar is “to increase the captive insurance industry’s awareness of Fitch Ratings having insurance rating capability, and in particular, the capability to rate captive insurance. We’ll cover our outlook for property insurance, life insurance, US health care and the reinsurance market. Coming just after Rendezvous in Monte Carlo, we’ll also share the latest developments coming out of that series of meetings, as well as regulatory trends globally and in the US.”

CIMA’s managing director, Cindy Scotland, added: “We are extremely pleased that Fitch Ratings has chosen the Cayman Islands for this event and we know that it will provide much value to participants. We believe that it reflects their confidence in the jurisdiction. We are grateful to our partners in Industry who have partnered with us to make the seminar accessible to the participants.”