Risk managers are responsible for managing every risk an organisation
faces by ensuring the company’s risks are identified and controlled in
line with the company’s strategic direction.
Although immunisation and asset matching strategies are essential for
captive insurance portfolios so as to minimise business risk, central
bankers have forced bond yields to such artificially and historically
low levels that returns on fixed income portfolios have been
How many captive owners realise that their actuary, more than many service providers, can spell the difference between survival and ruin in the financial life of the captive?
One of the most disguised dangers to any company or organisation is
growth for growth’s sake. Corporate graveyards are littered with
companies that grew fast, doing all things for all customers and never
really finding their focus or a unique way of delivering that focus to
an identified and willing market.
The Bermuda Monetary Authority has to find the
right balance to allow business to thrive while
maintaining international credibility at the cutting edge in
growth markets such as insurance linked securities.
On 1 June, 2011 Canada and the Cayman Islands entered into a Tax Information Exchange Agreement, which, it is anticipated, will help forge far deeper links between the two countries as far as the financial services industry is concerned, and in particular, the captive insurance industry.
On 2 September, 2011 the Insurance Managers Association of Cayman (IMAC) held its Annual General Meeting at The Ritz-Carlton, Grand Cayman.
As the only open market reinsurance company domiciled in the Cayman Islands, Greenlight Re’s view of the risk and rewards of the reinsurance industry is as unique as our headquarter’s location.
Captive insurance is a prominent sector within the Cayman Islands
financial services environment with its well developed infrastructure to
promote, develop and maintain this business. Given our geographical
proximity, a very substantial portion of this business originates from
The more things change, the more they stay the same. This phrase has been used to describe a number of situations over the years. The current environment in the US healthcare industry regarding the relationship between healthcare systems, hospitals and their physicians is certainly one of them.
President Obama has signed into law the Private Fund Investment Advisers
Registration Act of 2010 as part of the broader Dodd-Frank Wall Street
Reform and Consumer Protection Act, which enacts sweeping changes to the
US financial regulatory system intended to address both the causes of
the recent financial crisis and other perceived gaps in US financial
Cayman has long been known as one of the premier captive domiciles in the world. With over 750 captives registered, it is certainly one of the largest. The expertise offered captive owners is unparalleled.
Having audited captive insurance companies for many years now, most of
which fall into the category of being small-or-medium enterprises, I
have been witness to the pains that most of these companies have
experienced in keeping up with and adopting the numerous changes in
accounting standards over the past few years.
The use of captive insurance companies in risk management has steadily increased over the past decade. However, despite the steady growth of captive insurance companies and the benefits they offer, the captive industry still remains mysterious and not easily understood by those not involved in it.
Regulation should have clear well-founded objectives and the methods
used must be finely-tuned to the specific features of the market place.
Responsiveness to external factors that are of concern to potential and
existing clients is important because the environment does naturally
Catastrophe bonds are no longer ‘the next big thing’. They have arrived,
made their presence known and are here to stay. And we can be extremely
proud in the Cayman Islands that the jurisdiction has astutely
positioned itself as the premier offshore domicile for these
In today’s challenging economic climate, corporate executives are
examining the value of every dollar spent, including those spent on risk
and insurance. As a result, risk management departments that
effectively control the cost of risk are viewed as invaluable and key
strategic partners within their organisations.
In the aftermath of the financial crisis that impacted global markets
over the past two years, a number of captive insurance companies
experienced losses in their investment portfolios and are now
contemplating strategies around...
Cayman Financial Review invited Cindy Scotland, managing director of the
Cayman Islands Monetary Authority, Len Goldberg, managing director of
Cayman-based reinsurer Greenlight Re and the chairman of the Insurance
Managers Association of Cayman Ron Sulisz to debate the latest
regulatory developments and their impact on ...
A captive insurance company is one which has been set up primarily to
insure the risks of its parent company. In other words, it’s like having
your very own insurance company, so that when you pay the insurance
premiums, you’re paying yourself rather than somebody else.