Why Cayman Islands?
Reputation & Stability
The Cayman Islands is a premier global financial hub, well known and trusted by clients and domestic regulators. Cayman is positioning itself as a leading reinsurance destination. It is the second largest domicile for captive insurance companies and home to over 70% of the world's hedge funds.
Cayman is a British Overseas Territory with a legal framework based on UK common law. Moody's has assigned a credit rating of Aa3 with a stable outlook and AM Best have concluded that there are "low levels of economic, political and financial risk."
Cayman is recognized for meeting the highest global standards. In 2017, the Organisation for Economic Co-operation and Development provided Cayman with the same rating for transparency and exchange of information as some of the best regarded G20 member countries. Cayman's continued focus on balancing regulatory and commercial priorities with its adherence to the highest global standards has helped fuel continued growth of its financial sector.
Similar to US regulators, Cayman has not adopted the EU based Solvency II model which is not relevant for companies with a North American focus. This has given it a competitive advantage over jurisdictions such as Bermuda.
The Cayman regulator (CIMA) also recognizes the need for reinsurance companies to align with our clients and hence we have adopted U.S. statutory accounting principles and NAIC Risk Based Capital requirements. Given our focus on transparency and ease of understanding, Cayman offers a perfect environment for our business.
Talent and Infrastructure
Cayman has a diverse, experienced pool of local and international professionals who benefit from a strong financial services economy, career opportunities, and the Cayman Kind spirit.
We have also found the Cayman Islands to be attractive because of its natural beauty and sophisticated infrastructure. In 2017, we completed the re-fit of our new office in Camana Bay, considered the most impressive business district in the Caribbean. We are delighted with the office and feel it reflects our commitment to the island and our employees. Our staff and their families are very happy to be part of the community and our clients love to visit.