After a three-year hiatus due to the pandemic, Cayman Finance returned to New York to host a breakfast briefing and reinsurance roundtable events.
Cayman Finance held the briefing in partnership with the Ministry of Financial Services and Commerce, the Cayman Islands Monetary Authority, the Cayman International Reinsurance Companies Association, and members of the financial services industry.
The event was attended by over 150 representatives from a cross-section of the financial services industry, including more than 40 travelling from Cayman for the briefing.
Held at the Harvard Club, the breakfast included updates from the Cayman Islands government and CIMA.
Cayman Finance CEO Steve McIntosh said stakeholder engagement activities, like the breakfast briefing and the reinsurance roundtable, are important.
“One of the strategic priorities for Cayman Finance is the international promotion of our financial services industry. Events such as this one demonstrate the strength of the government/industry partnership, and how committed we all are to ensuring the continued success and growth of the financial services industry in Cayman,” he said in a press release.
Governor Martyn Roper, at the event, reiterated his personal support and that of the United Kingdom for the well-regulated, legally compliant, highly efficient and professional financial services industry in Cayman.
“As Governor it is important to signal to the international audience that the UK appreciates Cayman’s strong commitment to international efforts to promote transparency and cross-border cooperation on tax issues and to tackling illicit finance,” he said, in a message on social media. “I welcome the step up in proactive engagement by Minister [André] Ebanks with international counterparts to get Cayman’s positive message out more.”
In his keynote address, Ebanks, the Minister for Financial Services and Commerce, highlighted how important New York City is to the continued success of the industry.
“The New York / Cayman Islands relationship supports the vitality of the financial services industries in the US, and in our Islands. Moreover, it supports well-regulated and commercially viable financial services globally. And the Cayman Finance Breakfast Briefing is integral to this relationship,” he said in the release.
“Since its inception many years ago, this event represents taking friends – old and new – for breakfast to reaffirm our friendship, find out what’s new, and share plans. It’s been three years since we’ve held this briefing, and I’m delighted that we are back in New York to check in with each other, and to continue moving sound business forward.”
Attendees also heard from CIMA Managing Director Cindy Scotland, who provided a regulatory update, and from Chris Duggan, the newly appointed Cayman Islands government representative in Washington DC, whose office will officially open Thursday, 26 Jan.
The evening saw an expanded Cayman Finance Reinsurance Roundtable event, hosted in partnership with the Cayman International Reinsurance Companies Association. With more than 100 attendees, the networking event included two panel discussions focused on updates from the Cayman reinsurance sector and the benefits of doing business in Cayman.
CIRCA chairman Graham Mackay said in the release: “We are delighted to have worked so closely with Cayman Finance and the Ministry on this signature event. The Reinsurance Industry in Cayman is thriving, and we are proud to have this opportunity to showcase the benefits of the Cayman Islands to the reinsurance sector in New York.”
During the trip to New York, the Cayman delegation also took part in a variety of meetings with industry stakeholders.
Cayman Finance will be partnering with the Cayman Islands government and other organisations to host additional international events in 2023 and will be back in New York in 2024.
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