British Caymanian Insurance turns 25

British Caymanian Insurance, known to many as BritCay, celebrates its quarter century this year.

The company offers business and personal insurance and financial planning to employers and private clients.

It delivers health insurance and pension plans featuring flexibility and personal choice in determining best value products and services and offers life assurance and medium- to long-term investment plans via its Life Choices brand.

Staffed mostly by Caymanian employees, the company says it delivers products to match any available in the USA or Europe.

It has two branches in the Cayman Islands, one on Eastern Avenue in Grand Cayman and another at Kirkconnell Street in Cayman Brac.

The company started out as a property and casualty operation, mostly selling motor and property insurance in 1984.

BritCay has since expanded into a general insurance provider offering products in four main lines of business: property and casualty, life, pension and medical.

According to Melanie Hulse, the company’s marketing coordinator, BritCay was originally 60 per cent owned by Caymanians, with 40 per cent owned by Colonial Group International Limited.

However, since Hurricane Ivan in 2004, British Caymanian has been restructured with Colonial Group International, now owning 75 per cent and the remaining 25 per cent owned by Caymanians.

Colonial has its headquarters in Bermuda and also has operations and a physical presence in the Bahamas and the British Virgin Islands. 

Ms Hulse said: “While we don’t have a physical presence as yet, we also do a lot of business through brokers in Turks and Caicos and also some business in Barbados.”

 

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