Reinsurance News
Cayman Islands
Cayman starts 2024 with strong growth issuing 11 new insurer licences in Q1
19th April 2024
The strong growth in the number of new licences the Cayman Islands Monetary Authority (CIMA) has issued in the first quarter of 2024 is encouraging, as it demonstrates the region continues to attract new reinsurers, recent statistics have revealed. Between January and March 2024, CIMA issued eleven new international insurer licences ... Read the full article
Cayman Islands sets record for new international insurance licenses in a single year
26th January 2024
The Cayman Islands Monetary Authority (CIMA) has confirmed the issuance of 40 new international insurance licenses, the largest number of licenses issued in a single year in more than a decade, according to its quarterly insurance sector licensing statistics. Kieran Mehigan, Chairperson, The Insurance Managers Association of Cayman (IMAC), commented, “Despite ... Read the full article
Cayman Islands’ insurance industry continues to thrive in Q3’23: CIMA
15th November 2023
The Cayman Islands Monetary Authority (CIMA) has released the latest licensing statistics for the insurance sector, indicating a robust performance in the captive insurance industry. In the third quarter of 2023, CIMA granted eight new insurance company licenses, maintaining the momentum observed in the preceding quarters. Year-to-date figures for 2023 reveal a ... Read the full article
Northern Re launches as Caymans collateralized reinsurer
18th April 2023
Cayman Islands-based Northern Reinsurance has announced its launch as a new collateralized reinsurance company, with an initial capitalisation of $25 million provided by a private investment group. This tranche of capital comes as the first of a multi-phase process through which Northern plans facilitate its growth, which will focus on helping ... Read the full article
Cayman Islands issues 33 new re/insurance licences in 2022
29th March 2023
New figures released by the Cayman Islands Monetary Authority (CIMA) show that the regulatory agency issued 33 new licences for firms in the insurance and reinsurance industry last year. At this level, the figure represents the highest number of new licenses issued in a single year since 2013, CIMA notes. The regulator ... Read the full article
Bermuda, Cayman & Barbados captives still outperforming commercial peers: AM Best
22nd November 2022
Rated Bermuda, Cayman Islands and Barbados (BCIB) captive insurance companies have continued to outperform US commercial casualty peers, with a combined ratio approximately 13 percentage points better over the most recent five-year period, suggests a recent AM Best report. The report notes that the present hard insurance market has provided growth ... Read the full article
Ludlow Re launched as $1bn reinsurer by Hildene Capital
21st November 2022
Ludlow Re, a new Class B(iii) insurance company based in the Cayman Islands, has been launched by Hildene Capital Management, LLC, a diversified institutional asset manager. According to the announcement, Ludlow Re will offer reinsurance to the global insurance market and, as part of its inaugural transaction, will reinsure approximately $1bn ... Read the full article
AM Best finalises ratings for Brookfield’s Cayman reinsurer
4th February 2022
AM Best has finalised its financial strength and credit ratings for North End Re (Cayman), a segregated portfolio company owned by Brookfield Asset Management. The rating agency assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to the unit, in line with Read the full article
Corporate tax minimum would be negative for re/insurers: industry snapshot
25th June 2021
57% of industry participants we approached feel the introduction of a global minimum corporate tax rate would negatively impact the insurance and reinsurance landscape. Important to note are the limitations of our approach, which was one designed to capture the industry’s opinion quickly and at low resolution. As a result, we cannot ... Read the full article
Cayman Finance responds to G7 global corporate tax minimum talks
8th June 2021
The Cayman Islands’ financial services association has responded to news of a global minimum corporate tax rate being agreed upon by G7 leaders, highlighting its international commitments to protecting against tax evasion. An accord was reached on Saturday that backed the creation of a global minimum corporate tax rate of at ... Read the full article
Cayman Islands forms 36 new insurers in 2020
23rd February 2021
In 2020 the Cayman Islands formed 36 new insurance companies, making it the largest annual increase since 2017. Accompanying the new licenses were 12 new portfolio insurance company approvals and a new insurance manager. Although Q1 and Q2 2020 figures ... Read the full article
Cayman Islands reinsurers set up industry group
30th December 2020
A group of reinsurance companies located in the Cayman Islands have announced the formation of a new industry group, called the Cayman International Reinsurance Companies Association (CIRCA). The founding members of CIRCA include Aureum Re, Barents Re, CIBC Cayman Reinsurance Ltd., Greenlight Re, Knighthead Annuity & Life Assurance Company, Nassau Re ... Read the full article
“Dire consequences” should Cayman Islands remain blacklisted: Premier McLaughlin
21st May 2020
Cayman Islands Premier Alden McLaughlin foresees “dire consequences” should the European Union fail to remove the financial centre from its blacklist According to reports from Caribbean News Global, McLaughlin underlined the severity of the blacklisting even relative to the consequences being faced as a result of the global COVID-19 pandemic. “I am ... Read the full article
Cayman Islands blacklist status will be temporary: Conyers
19th February 2020
International law firm Conyers has said that it is expecting the status of the Cayman Islands on the European Union’s tax blacklist to be temporary, with the jurisdiction already looking to begin the removal process. The EU confirmed today that the Cayman Islands had been added to its list of ... Read the full article
Cayman Islands to join EU tax blacklist as UK loses sway
17th February 2020
The Cayman Islands is set to be blacklisted by the European Union (EU) for failing to comply with good governance standards on tax, according to reports from the Guardian. The decision regarding the British overseas territory comes just two weeks on from the UK’s official departure from the EU, and may ... Read the full article
- ← Previous
- 1
- 2
- 3
- Next →
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
