Maples announces partner promotions
Maples and Calder, the Maples Group’s law firm, has announced five partner promotions in its Cayman Islands office.
They are Adam Huckle (financial services regulation, dispute resolution and insolvency), Christina Gordon (funds and investment management), Nick Herrod (dispute resolution and insolvency, finance), Sophia Scott (corporate) and Stef Dimitriou (funds and investment management).
The appointments are effective immediately and form part of the law firm’s annual global promotions. This year, 17 new partners and of counsel were appointed across seven of the firm’s international offices.
AM Best affirms Coralisle Group’s credit rating
AM Best has removed Coralisle Group’s subsidiaries from their status as being ‘under review with developing implications’ and affirmed CG’s credit rating following its acquisition of Barbados-based Massy United Insurance Ltd on 4 May 2022.
AM Best affirmed CG’s financial strength rating of A (Excellent) and the long-term issuer credit ratings of “a” for the Group’s life/health and property/casualty subsidiaries. The outlook assigned to these credit ratings is stable.
At the same time, the rating affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of United Insurance with a positive outlook.
United Insurance now operates within the Coralisle Group as CG United Insurance Ltd.
AM Best noted that, with the addition of United Insurance operations in 14 new jurisdictions, CG now expands its presence across the Caribbean with potential for cross-selling complementary health products, additional scale in its growing property business and synergies in revenue and expense components of the combined income statement.
Civil Aviation Authority exhibits at aviation conference
After a hiatus of two years, the Civil Aviation Authority of the Cayman Islands (CAACI) will exhibit at the European Business Aviation Conference & Exhibition (EBACE) at the PALEXPO in Geneva, Switzerland from 23–25 May 2022.
The CAACI delegation will promote the Cayman Islands Aircraft Registry.
Financial Services Minister André Ebanks; the ministry’s Parliamentary Secretary Katherine Ebanks-Wilks; as well as Gene DaCosta and Deborah Bodden, the government’s representatives in Asia and Europe, respectively, will also attend, together with Cayman Enterprise City CEO Charlie Kirkconnell.
EBACE showcases future aviation technologies, including everything from high-tech small aircraft through ultra-modern intercontinental jets, advanced air mobility and eVTOL (electric vertical take-off and landing) aircraft.
RBC Royal Bank invests CA$200 million in employees
RBC Royal Bank announced a global investment of CA$200 million in its employees to help them achieve both life and career goals in a changing world.
The investment includes a mid-year base salary increase of 3% for employees, where base salary represents a higher percentage of their overall compensation, to address market pressure and the rising costs of living.
It also encompassed more rewards to support employees’ life goals, flexible and personalised work options and work-integrated learning, re-skilling and mentorship.
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