Alden McLaughlin became the Cayman Islands’ first premier to ring the opening bell for NASDAQ on Tuesday in New York City’s Times Square, introducing a local company as a publicly traded entity.
Oxbridge is a Cayman Islands exempted company that was organized in April 2013 to provide reinsurance business options, primarily to property and casualty insurers in the Gulf Coast region of the United States. Oxbridge’s licensed reinsurance subsidiary, Oxbridge Reinsurance Limited, writes fully collateralized policies to cover property losses from specified catastrophes.
During the ringing ceremony, David Wicks of NASDAQ said Oxbridge chose to domicile in the Cayman Islands because it has a stable political, economic and banking climate; it has pro-business legislation and tax initiatives; there is modern infrastructure, transportation and communication systems; and there is a highly educated and motivated people in the country.
“All of these factors have combined to make the Cayman Islands a destination for businesses around the world and home to residents from over 100 nations,” Mr. Wicks said.
The premier’s appearance at NASDAQ was used as a promotional opportunity for the Cayman Islands financial services industry.
“This is another excellent opportunity for the Cayman Islands to tell its positive story of providing sound financial services based on modern laws and regulations in a politically stable and business friendly environment,” Mr. McLaughlin said.