IMAC works to keep the Cayman Islands as a domicile of choice for captive insurance companies by providing an environment of innovation, ensuring that as a jurisdiction we are responsive to market demands.
The Insurance Managers Association of Cayman is a non-profit organisation run for and by Cayman’s captive insurance industry, including insurance managers, Cayman captive insurance companies and service providers. The association is the unified representative of the captive industry, acting as a liaison with the Cayman Islands Government, the Cayman Islands Monetary Authority (CIMA) and the private sector, to ensure that its members’ interests are represented.
Mission: To promote the development of the Cayman Islands captive insurance industry through cooperation and engagement with local government, regulators, media and other organisations, to promote the integrity and intellect of the industry, and to encourage sustainable growth through innovation, education and international competitiveness.
IMAC’s elected Executive Committee is supported by five sub-committees:
The marketing committee’s responsibility is to promote the Cayman Islands as a quality domicile for captive insurance companies. They accomplish this through a variety of media – conference sponsorship and attendance, digital and traditional communications, public relations and hosting networking events.
Cayman Captive Forum
IMAC hosts the world’s largest captive insurance conference – the Cayman Captive Forum – which has been held annually since 1993. Read more about the Forum.
Legislative and Regulatory
Effective representation of the industry to the regulators and legislators enables the Cayman Islands to be the proactive and forward-thinking jurisdiction it has become. This committee provides substantive input into proposed changes of legislation and regulation.
Research and Development
The captive insurance industry is dynamic and sharing best practices and insights are important in fostering a jurisdiction of experts. Regular technical courses and seminars led by industry experts are held for IMAC members.
Education and Scholarship
IMAC initiated an Educational Scholarship Fund in 1994 that assists in providing post-secondary education to Caymanian students who would not otherwise be able to attend university.
CIMA Confirms New Fast-Track Approval for Cat Bonds
(Grand Cayman – Monday, 20 February 2017)
The Cayman Islands Monetary Authority (CIMA) has recently taken further steps to streamline applications for Catastrophe Bond Vehicles (Cat bonds) of Class ‘C’ insurers. This new regime will also make the registrati...