Cayman Finance welcomes Southport Re, which has migrated from a Class B captive insurer license to its new Class D open-market reinsurer license with a physical presence in the Cayman Islands.

“The recent changes to the insurance law increases the Cayman Islands’ attraction to reinsurers such as Southport Re, and we are very pleased to welcome them to having a physical presence in this jurisdiction” said Mr Gonzalo Jalles, CEO of Cayman Finance.

Mr Jalles explained attracting reinsurers means a positive impact on the local economy as this requires a physical presence with the necessary infrastructure.

“The Cayman Islands has always been one of the world’s top captive insurance domiciles, and with the recent changes, we can now push towards increasing the size of our reinsurance sector as well” he added.

See also iNews Cayman story published May 29^th 2013 “Southport Re Domiciles in Cayman at: http://www.ieyenews.com/2013/05/southport-re-domiciles-in-cayman/