Financial services association Cayman Finance, the Insurance Managers Association of Cayman (IMAC) and the Cayman Islands Monetary Authority (CIMA) are jointly attending the Captive Insurance Companies Association (CICA) annual conference in Scottsdale, AZ, on March 10-12 to promote the Cayman Islands insurance industry.
CICA brings together captive professionals from around the world in a domicile neutral setting to explore new uses of captives, to engage new talent, and to outline best practices.
Educational sessions will provide advice to delegates on the formation and uses of captives, as well as market updates and industry hot topics presented by industry experts.
Last year the three industry and government organisations sent a combined delegation to ASHRM (American Society for Health Risk Management) in a successful collaboration. Attendance at CICA will build on the momentum generated by the joint participation at ASHRM in 2023.
Cayman Finance Associate Director Brittany MacVicar said: “I am excited about our united front at the CICA International Conference, building on the success of our collaborative efforts at ASHRM. The strength of our joint delegation with IMAC and CIMA reinforces the ‘Why Cayman’ initiative, highlighting our world-class products and emphasizing the unparalleled value and benefits of doing business here. I look forward to sharing insights with industry stakeholders, engaging with attendees from across the captive industry and others seeking innovative solutions, and showcasing the Cayman Islands’ position as a dynamic hub for cutting-edge captive insurance solutions.”
Kevin Poole, general manager of IMAC, said “IMAC look forward to attending CICA this year and are pleased to be back exhibiting in conjunction with Cayman Finance and CIMA. Should anyone want to learn more about the Cayman Islands and why Cayman is experiencing significant growth in numbers of licensees as well as discuss both the Cayman Captive Forum and/or the first ever CICA Connect reinsurance conference please see us at booth #401.”
Kara Ebanks, head of CIMA’s Insurance Supervision Division, said “Partnering with IMAC and Cayman Finance on conference participation like CICA allows for CIMA to meet with prospective and current licensees and network with key service providers. One of CIMA’s strategic objectives is this kind of stakeholder engagement, which helps us follow industry trends and challenges affecting captives. Given the growth of captive formations in the jurisdiction, it also allows us to stay ahead of any key challenges affecting growth and current licensees, which CIMA would need to factor into the regulatory framework and approaches.”
Cayman’s international insurance sector has experienced significant growth in recent years. CIMA issued 41 new international insurance licenses in 2023 – the largest number of licenses issued in a single year in more than a decade. In each of the preceding seven years, Cayman added more than 30 new international insurance licenses.
Visit the Cayman Finance booth 401 to speak with members of the Cayman Islands delegation.
