IMAC, Cayman Finance, CIMA to jointly represent Cayman as world’s largest healthcare captive domicile at the American Society for Health Risk Management Conference
Lesley Thompson, IMAC Chairperson
IMAC, Cayman Finance, CIMA to jointly represent Cayman as world’s largest healthcare captive domicile at the American Society for Health Risk Management Conference
George Town, Grand Cayman, September 28, 2023 – Three leading industry and governmental organizations will jointly represent the Cayman Islands at the American Society for Health Risk Management’s (ASHRM) Annual Conference. The Insurance Managers Association of Cayman (IMAC), Cayman Finance, and the Cayman Islands Monetary Authority (CIMA) will send a combined delegation to the premier event for healthcare risk professionals on October 1-4 in Minneapolis, Minnesota.
“Healthcare remains an important part of the captive landscape and as the world’s largest healthcare captive domicile Cayman continues to see growth in this area,” said Lesley Thompson, IMAC Chairperson. “This combined delegation is an innovative approach to promoting the jurisdiction, providing opportunities for existing or new captive clients to access expertise from across the financial services industry as well as hear directly from CIMA about Cayman’s regulatory framework.”
Cayman Finance also remarked on its participation in this event reflecting its commitment to promoting the insurance industry in Cayman.
Brittany MacVicar, Associate Director – Insurance, Cayman Finance
“Cayman Finance is proud to be representing the Cayman Islands at this premier event in the vibrant city of Minneapolis, Minnesota. At Cayman Finance, we are committed to fostering meaningful connections and driving discussions that shape the future of the insurance industry. Our presence at ASHRM’s Annual Conference underscores this dedication,” said Brittany MacVicar, Associate Director – Insurance, Cayman Finance. “This event holds immense significance for us as we come together with industry leaders to strengthen our presence in the insurance sector. We eagerly anticipate engaging with fellow professionals, sharing valuable insights, and forging partnerships that will further advance the insurance sector and promote the jurisdiction.”
CIMA noted that this kind of conference attendance provides opportunities for growth possibilities for the jurisdiction, where healthcare already accounts for the largest percentage of class of business of international insurance companies.
“Partnering with IMAC and Cayman Finance on conference participation like ASHRM allows for CIMA to meet with prospective and current licensees and network with key service providers,” said Kara Ebanks, Head of Division, Insurance Supervision Division, CIMA. “One of CIMA’s strategic objectives is this kind of stakeholder engagement, which helps us follow industry trends and challenges affecting the healthcare industry and allows us to stay ahead of any key challenges affecting growth and current licensees which CIMA would need to factor into the regulatory framework and approaches.”
Kara Ebanks, Head of Division, Insurance Supervision Division, CIMA
Cayman itself will be host to the 30th annual Cayman Captive Forum from 28th to 30th 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/.
IMAC anticipates partnering with Cayman Finance for participation in future conferences to enable further Cayman-related discussions, with attendance at World Captive Forum and the Captive Insurance Companies Association (CICA) conferences in the first quarter of 2024 already planned.
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.
