George Town, Grand Cayman, 21 April 2015
A 30-strong Cayman delegation is heading to New Orleans to the annual Risk Management Society (RIMS) conference April 26 – 29 to talk to the thousands of risk managers that will be in attendance about the benefits of domiciling their captive insurance companies in the Cayman Islands.
The Insurance Managers Association of Cayman (IMAC), the private sector industry body that has responsibility for promoting Cayman’s captive insurance industry to its target markets around the world, has been sending representatives to this particular conference for many years. IMAC Chair Kieran O’Mahony will be one of the attendees. “As one of the largest events of its kind, RIMS is a key event for us. We are able to speak to hundreds of people about what captives are, how they work, what types of risk they are particularly useful for and of course about Cayman’s leadership in this area and why it makes clear business sense to use our commercially-minded products”.
Earlier this year, Cayman implemented the Portfolio Insurance Company (PIC) regulations, which has already received the nod of approval from the market as illustrated by the interest in the structure with the first PIC launching within a month of the regulations coming into force.
Representatives from the Cayman Islands Monetary Authority will also be on hand to meet with potential and existing Cayman captive owners to discuss their business plans.
The representatives invite RIMS attendees to drop by their booth #813 to discuss how domiciling in the Cayman Islands will benefit their captives.