Local and international insurers and reinsurers will gather in Grand Cayman this week for the island’s first dedicated reinsurance conference.
The [Re]Connect conference, organised by the Cayman International Reinsurance Companies Association (CIRCA), will be held on Thursday and Friday at The Ritz-Carlton, Grand Cayman.
Organisers say the inaugural conference will bring together industry leaders, regulators, executives, cedants and other stakeholders.
Deputy Premier and Minister for Financial Services and Commerce André Ebanks will make the opening address, which will be followed by panel discussions on topics such as strategic opportunities for reinsurance in the Cayman Islands in both the life and annuity, and property and casualty sectors.
There will also be a conversation between two prominent individuals from leading asset managers – Paul Forestell, managing partner of Brookfield Reinsurance, and Raj Krishnan, partner and chief investment officer of Ares Insurance Solutions – exploring key characteristics of the reinsurance market that make it attractive generally, and specifically in the Cayman Islands.
Kara Ebanks, head of the insurance supervision division at the Cayman Islands Monetary Authority, will join the Emerging Regulatory Topics panel.
“As the Cayman Islands continues to expand its role in a global regulatory framework, Ms. Ebanks will provide an update on CIMA’s reinsurance activities, including CIMA’s efforts to keep Cayman at the forefront of international standards,” a press release about the conference noted.
It continued, “A growing number of reinsurance companies are choosing to establish operations in the jurisdiction, which begs the question ‘Why Cayman?’. A panel of experts will break down the key elements in terms of the licensing and application process, Cayman’s business-friendly environment, and explain how insurance managers can help with the process, as well as covering critical matters including legal, tax and actuarial considerations, for a thriving reinsurance business.”
Emerging opportunities in Insurtech will be another area of discussion, as new developments and technology enable more efficient and effective risk transfer, the organisers said.
“As the Cayman Islands has positioned itself at the lead of Insurtech’s rise, [Re]Connect brings together a number of CEOs in the sector to see how they are improving the value proposition for partners and accelerating business,” the release stated.
CIRCA says, with strong support from the local business community and government, the [Re]Connect conference “is poised to become a landmark event for the Cayman Islands and a cornerstone of the international reinsurance conference circuit”.
Steve Papciak, CIRCA marketing committee chair, said in the release, “As we look forward to welcoming delegates to the inaugural [Re]Connect conference, I’m particularly excited about the calibre of the speakers that will provide both an international perspective and local insight into Cayman’s reinsurance offering.
“The overwhelmingly positive response we have received towards [Re]Connect highlights the potential for the future of this event and the industry as a whole.”
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