With domiciling and redomiciling becoming easier for captives as
Any comparison of modern business practices with those
of a century ago would very quickly show some massive
differences. It’s not simply a question of technology—
some concepts are very different indeed. One of these is
the ease in which companies can redomicile.
Many countries and US states have been looking at captive
insurance companies for some time, and then working out the
most efficient way of attracting them to those jurisdictions. Captivefriendly
laws and regulations have been written and voted into place
in all kinds of places.
This has created the kind of environment in which redomiciling is
easier to do than it has been before. Which brings up the question:
could redomiciling be a threat to Cayman’s position as a domicile
Looking at Cayman, its position is indeed a strong one. According
to Rob Humphries, an attorney at legal firm Solomon Harris,
Cayman’s appeal as a leading captives domicile now extends well
beyond its traditional client base of US healthcare captives.
There are currently about 730 insurance-related licensees
conducting international business from Cayman. At 31 June 2017
there was a total of 701 class B, C and D insurance companies, and
29 licensed insurance managers to service their needs.
Total premiums across the board came to $13.5 billion and
total assets were $57.9 billion. Pure captives and group captives
represented the two main categories, with 327 and 117 companies
respectively; 145 of those companies have been set up as
segregated portfolio or ‘cell’ companies (SPCs) with 603 segregated
38 cayman captive 2018
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