New York, NY — September 18, 2024: The Cayman Islands Reinsurance Companies Association
(CIRCA), in partnership with Cayman Finance and the Insurance Managers Association of
Cayman (IMAC), hosted a highly successful Reinsurance Roundtable Breakfast last week at the
prestigious Harvard Club in New York City. The event, which attracted nearly 200 attendees,
brought together a strong delegation from the Cayman Islands, alongside key representatives
from the US reinsurance industry, to discuss the jurisdiction’s growing reputation as a leading
hub for reinsurance.

Left to right – Kieran Mehigan (Chair, IMAC); David C. Self (Chair, CIRCA); Kara Ebanks (Head of Insurance Supervision Division, CIMA); Hon. André M. Ebanks, MP, Deputy Premier and Minister for Financial Services & Commerce; Steve McIntosh (Chief Executive Officer, Cayman Finance); Derek Stenson (Partner, Conyers)

Steve McIntosh, CEO of Cayman Finance, served as the Master of Ceremonies (MC) and also
moderated the panel titled “Why Cayman”. In his opening remarks, McIntosh highlighted the
extraordinary growth of Cayman’s reinsurance sector: “The reinsurance sector in Cayman is
experiencing extraordinary growth, bolstered by political stability, a favorable regulatory
environment, and our position as a global financial hub.”

In his remarks, David Self, Chair of CIRCA, emphasised the importance of the collaboration
between public and private sectors in the Cayman Islands, stating, “The growth we are seeing is
the result of a strong collaboration between the private sector, the Cayman Islands
Government, and CIMA. Our ability to work together effectively is truly the secret behind our
success.”

Left to right – David C. Self (Chair, CIRCA); Hon. André M. Ebanks, MP, Deputy Premier and Minister for Financial Services & Commerce; Greg Mitchell (Vice-Chair, CIRCA)

The keynote address was delivered by Cayman Islands Deputy Premier André Ebanks, who
reaffirmed the Cayman Islands Government’s commitment to the Cayman Islands being a
globally respected financial services centre of excellence and innovation.

“Our Government recognises the instrumental, sound role reinsurance has in global markets;
and recognises the intrinsic link forming with institutional investors, such as private equity fund
vehicles that are well-regulated in the Cayman Islands. As a result, the Cayman Islands presents
a viable, innovative, compliant centre for reinsurance business,
” he said.

Left to right – Kieran Mehigan (Chair, IMAC); David C. Self (Chair, CIRCA); Hon. André M. Ebanks, MP, Deputy Premier and Minister for Financial Services & Commerce; Steve McIntosh (Chief Executive Officer, Cayman Finance)

Kara Ebanks, Head of Insurance Supervision at CIMA, echoed these sentiments in her
presentation on regulatory updates, emphasizing the regulatory strength of the Cayman
Islands. “The Cayman Islands continues to set the standard for regulatory excellence in the
reinsurance industry. Our proactive and transparent approach ensures that companies can
operate with confidence, knowing they are in a jurisdiction that prioritizes both innovation and
compliance with international standards,” she said.

The event also featured two insightful panel discussions:

“Why Cayman” moderated by Steve McIntosh (CEO, Cayman Finance), with panelists:
Elena Coyle, Partner at Skadden
Ruwan Jayasekera, COO of Blue Ocean Reinsurance Group
Peter McKelvy, CEO of Northern Re

Hon. André M. Ebanks, MP, Deputy Premier and Minister for Financial Services & Commerce

The panelists provided valuable insights into why Cayman is an attractive location for global reinsurance companies.

“Setting Up a Reinsurer in Cayman” moderated by Derek Stenson, Partner at Conyers, with
panelists:

John Forni, Managing Director, Grant Thornton
Rob Hou, CEO, Third Point Re
Kieran Mehigan, Chair, Insurance Managers Association of Cayman

This panel delved into the practical aspects of establishing reinsurance operations in Cayman,
offering attendees a comprehensive overview of the processes involved and the jurisdiction’s
advantages for new entrants.

Attendees were encouraged to continue the dialogue at upcoming events, including CIRCA’s
flagship event, ReConnect 2025, scheduled for April 10-11, 2025, in the Cayman Islands, and
IMAC’s Cayman Captive Forum, taking place from December 3-5, 2024, which is recognized as
the world’s largest gathering of captive owners and service providers, attracting nearly 1,500
attendees annually.

About CIRCA
Founded in 2020, the Cayman International Reinsurance Companies Association serves as the voice of
commercial reinsurance companies in the Cayman Islands. The association is dedicated to promoting
collaboration, advocating for regulatory excellence, and driving educational initiatives in the Cayman
Islands’ thriving reinsurance sector. For more information, visit CIRCA online at www.circa.ky
About IMAC
The Insurance Managers Association of Cayman (IMAC) represents the international insurance
industry in the Cayman Islands. IMAC liaises with government and the regulator on the
industry’s behalf and promotes innovation and international competitiveness to maintain
Cayman’s advantageous market position. The Cayman Islands is the second largest domicile in
the world for captives and a dominant jurisdiction for healthcare captives, group captives,
catastrophe bonds and international reinsurance.
About CF
Cayman Finance, a non-profit membership organization, has served as the voice of the
Cayman Islands’ financial services industry since 2003. With a diverse membership comprising
over 100 entities, including 16 industry associations, it tirelessly safeguards the industry’s
reputation and promotes its growth through five strategic pillars: promotion, protection, member
engagement, community engagement, and product development. These pillars drive
collaborative efforts, foster community connections, encourage innovation in financial products,
enhance industry visibility, and ensure the sector’s integrity and security.