L – R: Maggie Papadopoulos, Kevin Poole, Leonna Saintvil, Brittany MacVicar, Roderick Henry, Kara Ebanks, Ron Sulisz, Richard Maparura

George Town, Grand Cayman, November 03, 2023 – The three leading industry and governmental organizations who represented the Cayman Islands at the American Society for Health Risk Management’s (ASHRM) Annual Conference last month found their joint participation provided valuable connections for the industry and jurisdiction. This event was the first time the Insurance Managers Association of Cayman (IMAC), Cayman Finance, and the Cayman Islands Monetary Authority (CIMA) sent a combined delegation to an international event.

“It was good to be back on the conference circuit after a few years of enforced absence and the choice of attending the conference as a combined industry and government delegation proved to be incredibly valuable,” IMAC’s Kevin Poole commented. “Our joint participation at ASHRM allowed our full delegation to connect with many existing clients and friends of Cayman and reinforce why the Cayman Islands is a preferred jurisdiction for insurance businesses.”

Cayman Finance also remarked on its participation in this event reflecting its commitment to promoting the insurance industry in Cayman.

“Cayman Finance’s mission is to enhance the success of our members, clients and people and this conference was an opportunity to deliver on that, connecting with new and current industry stakeholders — several of whom will be in attendance at the upcoming Cayman Captive Forum,” said Brittany MacVicar of Cayman Finance. “ASHRM confirmed the strategy of joint industry-government participation worthwhile, provided an opportunity to promote our world-class products, and allowed us to emphasise the value and benefits of doing business in the Cayman Islands.” 

Connection was also one of CIMA’s key takeaways from the event, with conference providing opportunities to support continued growth in a key insurance sector.

“CIMA enjoyed the opportunity to connect with key industry stakeholders and clients,” said Kara Ebanks, Head of CIMA’s Insurance Supervision Division. “Cayman remains an important and growing Health Care captive domicile, and our attendance helped to reinforce this in support of the Cayman delegation.”

Given the success of this first combined delegation for an international event, IMAC anticipates partnering with Cayman Finance for participation in future conferences such as the World Captive Forum and the Captive Insurance Companies Association (CICA) conferences in the first quarter of 2024.

Cayman itself will be host to the 30th annual Cayman Captive Forum from 28th to 30^th November at the Grand Cayman Ritz Carlton. This is the largest captive-related conference in the world, with more 1,400 attendees expected in person for three days of educational content and networking opportunities. Online content also will be available after the event to registrants. For more information, visit https://caymanintinsurance.ky/captive-forum/. 

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.

Cayman Finance has served as the voice of the Cayman Islands’ financial services sector 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.

The Cayman Islands Monetary Authority is a steadfast cornerstone that provides responsible oversight of the Cayman Islands’ financial services industry. As the chief regulator, and with over 27,000 entities under its remit, CIMA plays a crucial role in protecting the integrity of the financial industry and currency of the Cayman Islands through its four principal functions: monetary, regulatory, cooperative and advisory. These factors help to ensure that the reputation of this jurisdiction as a leading financial services centre, and responsible member of the global financial community, remains unassailable.