This is the place for viewpoints from the practitioners of the Cayman insurance industry. Some are light-hearted and some are serious, but all are thought-provoking. Sign up for our newsletter so that you never miss a post.



“And the more the Grinch thought of this Who Christmassing, the more the Grinch thought 'I must stop this whole thing!'"  - Dr Suess, How the Grinch Stole Christmas  Last December – exactly two days before Christmas Eve – the Trump administration's US tax reform snuck in like a Grinch in the night.   Industry professionals and service providers collectively spat out their eggnog as the holiday festivities screeched to a halt.   But just as the Whos in Whoville were unfaz...

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US Tax Reform

Written by Andrew BlevinsSenior Tax Manager, KPMG Introduction For those who have never lived, worked, or done business in the Cayman Islands, it’s nearly certain their first comments when meeting someone who has goes something like, “So you have money hidden there?” or “Isn’t that where Tom Cruise hid his money in that movie, ‘The Firm’”? They probably have a hard time believing much, if any, legitimate business can get done in a place with so many palm trees and beautiful beaches.  ...

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Onshore or Offshore?

“The fastest way to kill something special is to compare it to something else.” - Unknown Say you are purchasing a car. A Subaru Outback and an Aston Martin DB11 are both fine models to choose from, but you are obviously aware that these vehicles are in two entirely different categories. You wouldn’t expect to see an Outback out on a NASCAR track. Neither would you criticise a DB11 for its lack of off-road capabilities. Subaru and Aston Martin not only have different backgrounds, but also ...

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When the magic starts, it's just the beginning

You may not believe me when I say I work for a mouse. Yes, I’m talking about Mickey Mouse at Walt Disney World located in Orlando, Florida. I started working here on July 12th, 2017. This is where I am currently carrying out my one-year International College Program. It involves working full time at Magic Kingdom Tomorrowland attractions for the first six months, with the remaining six months to be spent in merchandising. I am also registered in online classes with Central Michigan University...

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Change on the horizon: blockchain and cryptocurrencies

“You can’t stop change any more than you can stop the suns from setting.” - Shmi Skywalker Each day we wake up to new ideas, new visions, and a new way of doing things. There is always another way to look at what is “tried, tested and true”. 2018 is only a month in, and there is already a buzz of excitement over changes the world will see this year. Ford is making its move into electric cars, announcing that 40 hybrid and electric vehicles are coming our way by 2022. Intel revealed a maj...

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Cayman: A powerful domicile with a consistent credit rating

“The economy is the start and end of everything.”  - David Cameron  Truer words have not been spoken, as Cayman’s economic strength and political stability consistently receives top marks by the international credit rating agency, Moody’s.  With a fantastic Aa31 rating for bonds issued by the Cayman Islands Government in a foreign currency, and Aa22 rating for long-term foreign currency ceiling bonds and notes, Cayman has once again proved itself as one of the world's leading and top perfo...

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Why Cayman?

It has been said that the greatest leader is one who “knows the way, goes the way, and shows the way” – and Cayman is no exception in captive insurance. With over 40 years’ experience under its belt in captive formation, operation, and regulation, this jurisdiction has proven that it is more than capable of being the world’s leading captive insurance domicile. It is no surprise then, why leading financial institutions, Fortune 500 companies, and private and public businesses from across the ...

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Groups are “Captive-ating” - 6 Reasons You Could Benefit from a Group Captive

“No man is an island,” said John Donne.  Humans are conditioned to gather together because togetherness feels good on all levels.  Even prehistoric people banded together for comfort, camaraderie and safety.  It was always a lot better to have a bunch of friends around when it came time to defend against a rival tribe or a rogue wildebeest. Humans have not changed.  And because corporations comprise humans, they also have personalities and can experience benefits from getting together into g...

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Nick Leighton Retires

The end of this May (2016) witnessed the retirement of Nicholas John Leighton, one of the leading personalities of the Cayman captive management industry and Managing Director of Atlas Insurance Management since 2006. He began his insurance management career in Guernsey with Willis prior to his first spell in the Cayman Islands in the early 1990's before returning to Guernsey with Aon becoming Director of “White Rock” the world's first rent-a-captive to convert to a cell captive structure. Re...

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Why Cayman Loves Canada

By:  Kay Carter, Senior Associate, Solomon Harris and JS DeJager, Senior Vice President CSI International Canada – the behemoth country to the north, frozen for half the year – and the Cayman Islands – the tiny speck of an island sizzling in the Caribbean sunshine – might seem unlikely bedfellows, but the synergies of a great relationship are all present. In 2012 when the governments of Canada and the Cayman Islands signed a tax information exchange agreement (TIEA) that formalised the proc...

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Art Schooling

Conor Jennings,  managing director of Captiva Managers The 2008 financial crisis was a harsh reminder to many investors of the instability of global financial markets and the risks associated with owning stocks and shares. High net worth individuals (HNWIs) appreciated – perhaps for the first time – the true value of owning valuable collectables with no correlation to the financial markets. This has encouraged a surge of interest in the acquisition and collection of fine art, classic cars, ...

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Two Ways to Treat the Reinsurer

By Larry Walters, Aon The mark of a mature and successful captive is the “stand alone” nature of its operation, both regarding the exposure that it underwrites, and its ability to spread risk through reinsurance. This article illustrates two distinctly different ways that a captive might address these objectives. Reinsurance Relationships Two captive insurance companies were domiciled in the Cayman Islands – Integrity Insurance Company and Haphazard Insurance Company*. These captives were ...

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How Captives Should be Managed

By: James Rawcliffe FCA, Vice-President – Sagicor Insurance Managers Ltd. You are at the beginning of the captive formation journey and a key decision upcoming is your choice of insurance manager. The Manager represents a key relationship with you on the captive team of service providers, who you will rely on in several ways, the key two being the interface between you and the Cayman regulator, and to assist you to ensure the overall governance of your captive remains on course, akin to the ...

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Cayman Islands: Well-Positioned

By Rob Leadbetter, USA Risk “The world as we have created it is a process of our thinking, it cannot be changed without changing our thinking”.  Albert Einstein Albert Einstein may have been suggesting that with the determination with which people, and particularly groups of people, hold on to their precious thoughts and opinions, it often takes someone or event of great significance to shake an ingrained philosophy.  This has been and remains the challenge of the Cayman Islands financial s...

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Wolf of Wall Street Comes to Cayman

The infamous and reformed ‘Wolf of Wall Street’ Jordan Belfort will be the keynote speaker at the 2013 Cayman Captive Forum. Some may consider Belfort an interesting choice - he is the epitome of a 'bad character' and has done all of the things that in the Cayman Islands we stand most strongly against.  But, Jordon's story is a bit different and ultimately, it has a happy ending and a message. Jordan Belfort’s story is a wild ride of his $1 million per week earnings, the extravagant lifesty...

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Cayman Islands. Clearly Better Business

Clearly Better for Business, Cayman Island is Open for Reinsurance   The initiative to develop reinsurance business in the Cayman Islands recently took a big step forward November 1, 2012 when the Cayman Islands New Insurance Law came into effect along with its supporting Regulations on December 20th 2012 thus paving the way for separate categories for Insurance Linked Securities as class C licensees and Commercial Reinsurers as class D licensees. These two classes of now have separate sect...

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Quarterly Update from the Chair

by Rob Leadbetter, USA Risk Where does the time go, it has already been six months since I have taken over the chairpersonship of IMAC and it seems like only last week Clayton was talking me into the position!  I must say it has been a whirlwind introduction to the inner workings of the entire IMAC Executive, sitting on just one committee over the years didn’t quite give me the appreciation for all that goes on! That being said I believe it has also been a very productive six months and the...

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An Old Rerun - "The Redomiciliation Trend"

By Denise Gower, Fountainhead Some people never tire of watching the same old TV re-runs. Personally, I love Harry Potter movies and I confess to having watched each of them scores of times. There is just something mind-numbingly comforting about the familiarity of these wonderful fairy tales of witches and wizards and the search for truth, that I just can’t resist them when I am tired and need a mental break. I think the same must be true for those who keep trying to re-run the story about...

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Bermuda - Centre for Global ILS Business? Perhaps Not

by James Rawcliffe, Sagicor I read with interest an article dated October 12, 2012 in Hedgeweek in which the Bermuda Insurance Regulator was discussing Bermuda’s increasing rise as a centre of the global special purpose insurer and insurance linked security business. This was considered here in Cayman not worthy of a formal response, as it would give credence to Bermuda’s claim. Instead the vehicle of the Cayman monthly blog is an appropriate means of poking back at such nonsense. In the bor...

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Solvency II - Twist or Stick?

By James Rawcliffe, Sagicor It is interesting to observe the positions taken by the two leading offshore captive domiciles – the “old world” Bermuda and its keen rival “new world” Cayman Islands when considering the merits or otherwise of Solvency II. There is Bermuda keen to embrace Solvency II equivalency with the veiled hint that Cayman is somewhat recalcitrant in taking its time to consider Solvency II’s relevancy to the captive insurance model. It is understandable that Solvency II feat...

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Healthcare conference goers use Cayman app

The American Society for Healthcare Risk Management’s (ASHRM) annual conference concluded last week. Delegates from around the world gathered to discuss the challenges and issues they face in the management of the healthcare industry and to learn more about...


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