07-Dec-2013

Incorporated Cell Legislation - New Opportunities for SPC Insurers

Paul Scrivener

It is, arguably, the most significant legal development for Cayman’s insurance sector since the introduction of SPCs in 1998. The Amendment Law, whilst now on the statute book, is not yet in force at the time of writing this article but will be brought into force once necessary amendments have been made to the underlying Insurance Regulations. These amendments will deal with administrative atters, such as additional forms and returns that  are required and also more substantive issues such as the capital and solvency requirements for incorporated cells.

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Captive Insurance generates $100m for Cayman's economy

Cayman’s captive insurance industry has generated a total of US $100 million for the island’s economy in 2016, with results from an economic impact survey having been recently released by the Insurance Managers Association of Cayman (IMAC). “Over the summer...

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