Cindy Scotland, managing
director and a director of Cayman
Islands Monetary Authority, offers
a perspective on the successes
and landmarks for Cayman’s
captives sector—and some of the
challenges that await.
The Cayman Islands Monetary Authority (CIMA) is once again
pleased to contribute towards a successful edition of the
Cayman Captive magazine.
This year marks the 25th anniversary for the Cayman Captive
Forum which is hosted by the Insurance Managers Association of
Cayman (IMAC), and the authority wishes to extend its congratulations
to IMAC for reaching this significant milestone.
Each year, the forum provides an exclusive platform to share insights
into the latest developments of the insurance sector of the Cayman
Islands—an area where the industry has remained highly competitive
for many years.
State of Cayman’s insurance sector
With 839 insurance licensees, the Cayman Islands is the second largest
domicile of international insurers (733) and domestic insurers (28) as
of 30 September 2017. In addition, there are 31 insurance brokers and
46 insurance agents operating within the domestic market, and 29
insurance managers operating within the international market.
The domestic market comprises nine locally-incorporated companies
and 19 branch/agency operations of foreign companies.
cayman captive 2018 13
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