The Insurance Managers Association of Cayman (IMAC), the nonprofit organization representing Cayman’s captive and alternative risk management insurance industry, has announced the launch of its new brand identity, name, and tagline for use when it is promoting this industry to the world.
IMAC will use “Cayman International Insurance – The Better Alternative” for external communications and marketing, while locally and with reference to the association itself, it will still be known as “IMAC.”
“We are no longer an association trying to develop our industry – we have become the face of our industry,” IMAC Chair Erin Brosnihan said. “Having said that, it’s also important to note IMAC will not vanish. It will still exist as a member organization and an inward-facing entity. What has changed is our global promotion of Cayman as a domicile, which is where I am eager to see how Cayman International Insurance will unfold and develop.”
Ms. Brosnihan said the name change was required to appropriately promote Cayman’s multipronged insurance industry, which now includes reinsurance and insurance-linked securities.
The brand was revealed to members on Sept. 15 at the annual Black-Tie Gala, a fundraising event hosted by the association for its scholarship.
Six new students were awarded scholarships this year, bringing the total number of current, full-time students to 20. Since its inception, the scholarship fund has assisted 48 students.
The IMAC Educational Scholarship Fund was formed in 1994 by insurance managers and industry service providers. The fund has raised over US$3.9 million to date to support post-secondary education for Caymanians who would not otherwise have the financial means to attend.