CAPTIVE INSIGHT
THE REALITY IS ACTUALLY VERY DIFFERENT,
WITH CAYMAN BEING RECOGNISED BY THE
OECD AND OTHER SIMILAR AGENCIES AS
ADOPTING A LEGISLATIVE AND REGULATORY
STRUCTURE THAT MEETS THE VERY HIGHEST
OF INTERNATIONAL STANDARDS AS A MEANS
OF COMBATING MONEY LAUNDERING AND
TAX EVASION.
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Moreover, and with specific regard to the insurance industry,
to maintain its position as a leading captive, reinsurance
and ILS domicile, it is imperative that Cayman’s Insurance
Managers must continue to evolve and diversify our product
offering.
Long regarded as the premier destination for US healthcare
business, Cayman has more evolved into a high-class
international insurance and reinsurance center. This is
borne out of a harmonious blend of Government support
and the regulators constant dialogue and collaboration with
the private sector to continuously enhance the jurisdiction.
Cayman’s private sector in itself is extremely diversified
- with a wealth of internationally experienced lawyers,
accountants, bankers and investment managers. Again,
turning to the insurance sector, Cayman offers a plethora
of expert Insurance Managers, ranging from the large,
broker owned firms, to independent, boutique practices,
specialising in new solutions and program design.
As a whole, the services providers in Cayman are
integral to why the jurisdiction remains preeminent in the
global insurance industry. Cayman’s insurance sector
is complimented by one of the world’s largest global
investment fund industries, a strong trust and fiduciary
sector, vibrant private banking landscape and burgeoning
company incorporation numbers. As a result, the Cayman
Islands continues to strive by providing its clients with access
to value-added by-products that enhance our offering.
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