The 21st annual Cayman Captive Forum, believed to be the world’s largest captive conference, has sold out with just shy of 1,400 participants taking part in a week of educational sessions, information sharing and networking.
As the conference officially opened Wednesday morning, keynote speaker Jordan Belfort spoke to a standing room only crowd, describing his past life on Wall Street, his extravagances and wayward behaviour and how he now values a life of integrity.
The Insurance Managers Association of Cayman (IMAC) chairperson Rob Leadbetter lead the delegates through the state of the Cayman industry, highlighting not only the issues facing Cayman, but how the jurisdiction has rallied together over the past year to face ongoing changes within the industry – for example the introduction of new legislation including the new provisions relating to Portfolio Insurance Companies (PICs), the adaptation and introduction of new regulations, and the evidence of the success of these new initiatives resulting in a 17 percent increase of gross written premiums over the last year, namely US$13.8 billion this year up from US$11.83 billion as at 31 December 2012.
Cayman Islands dignitaries, including Premier Alden McLaughlin, Honourable Ministers Marco Archer, Osbourne Bodden, Kenneth Jefferson and Councilor Winston Connolly were all on hand to congratulate the IMAC on another successful conference and to update the delegates on the state of the industry, Government’s latest contributions and efforts on international regulatory initiatives, and Cayman’s co-operation with those initiatives.
New additions to this year’s Cayman Captive Forum include a full agenda app, which has had over 5,400 page views and the launch of Captive Insight, IMAC’s own issues-based magazine.
The 2014 Cayman Captive Forum is being held 4th – 6th December at the Ritz Carlton, Grand Cayman.