Encouraging themes of optimism kick-started this year’s 25th annual Cayman Captive Forum.
Famed as being the world’s largest captive insurance conference, the Forum opened with a bang at the Ritz Carlton last week; stirring inspiration amongst its attendees with dynamic speeches and events.
Speakers included TEDx motivational speaker Mel Robbins, who took the stage with a rousing talk on self-empowerment: “Any time you feel uncertain, afraid, or overwhelmed, just take control by counting backwards from five to one. Then, move when you get to one.”
Similar words were echoed by IMAC Chair Erin Brosnihan. Ms Brosnihan delivered a poignant speech on the Forum’s history, and announced a bright future for Cayman as a world-renowned offshore jurisdiction.
“The steps we take today inevitably lead us to our destiny tomorrow,” said Ms Brosnihan. “Today, right now, we are making leaps and bounds into a destiny that looks bright.”
IMAC marketing committee chair Adrian Lynch further added to the good news in his prediction that Cayman can expect to see similar, if not greater captive formations 2018: “We are beginning to see a hardening in reinsurance rates, which means clients will revisit their captives in terms of their deductible spend and the attachment of their reinsurance. A hard market in 2018 will mean a greater number of formations for Cayman.”
This year’s Cayman Captive Forum was held from 28 – 30 November at the Ritz-Carlton Grand Cayman. Over 1,400 international captive directors and managers, CFOs, risk managers and service providers were offered three days of unique networking opportunities; including golf tournaments, poolside receptions, beach parties, and a fireworks display.
Ms Brosnihan expressed her delight with the outcome of the Forum’s 25th anniversary: “This was by far our best one yet. With this being Cayman Captive’s 25th anniversary, we wanted this one to be particularly special, and I don’t think we disappointed. For this we must thank our wonderful attendees and sponsors, as without them none of this would have been possible. Plans for next year’s Forum are already underway, and I look forward to seeing everyone again in 2018.”