Cayman Touts Insurance Industry Offering In America

Cayman Touts Insurance Industry Offering In America: "A delegation from the Cayman Islands insurance industry attended the 50th Annual Risk and Insurance Management Society conference held last month, to promote the jurisdiction' position as a growing domicile for captive insurance companies.

The Risk and Insurance Management Society (RIMS) conference and exhibition is the largest gathering of risk professionals in North America. This year, the event saw over 10,000 visitors from all around the world, ranging from risk and insurance management executives to brokers, insurers and service providers.

Although already established as an insurance company domicile, the Cayman Islands announced at the start of this year that it would seek to challenge Bermuda's supremacy as the leading domicile for insurance companies serving the US market. Unlike Bermuda the Cayman Islands will not seek equivalence with the EU Solvency II Directive, meaning that the territory will in theory attract insurers looking to circumvent the stringent capital buffer requirements."

'via Blog this'