Cayman captive industry continues promotional tour in Latin America

Following the attendance of this month’s 2016 Risk and Insurance Management Society Canada Conference in Calgary, Alberta, and the more recent American Society for Healthcare Risk Management annual conference in Orlando, Florida, the Cayman Islands captive insurance industry is taking its message to the RIMS Risk Forum Latin America 2016.

Cayman is sending a team of experienced representatives from captive insurance industry service providers to meet and talk with approximately 300 conference attendees.

The Cayman Islands’ effort to promote Cayman as the premier jurisdiction for captive insurance companies is being spearheaded by the Insurance Managers Association of Cayman.

Association board member JS de Jager, who is part of the Cayman delegation, said Latin America is an important market for Cayman captives.

“With various tax information exchange agreements with Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, to name a few), the strength of our legislative and regulatory infrastructure and the extensive experience and expertise of our local service providers, Cayman is able to offer Latin American companies a product that is well-tested and efficient,” he said.

“We have a number of Latin American captives domiciled here in Cayman already, and we are optimistic about the opportunities to spread the word to motivate more Latin American businesses to follow their example,” Mr. de Jager added.

The Cayman Islands will have a high profile as a platinum sponsor at the event, which is being held in Bogota, Colombia, on Oct. 3 and 4.

The Cayman Islands has a 40 year history in the captive insurance business and a range of service providers and expertise which has enabled the jurisdiction to attract more than 700 captives as of June 30, the Insurance Managers Association of Cayman noted. In addition, Cayman has 33 licensed insurance managers and a range of specialist professional service providers – including investment managers, lawyers, bankers and auditors.

IMAC will once again host the world’s largest captive insurance-centric conference, attracting approximately 1,500 attendees from Nov. 29 to Dec. 1 at The Ritz-Carlton, Grand Cayman.