Being in first place certainly has its advantages. First place
means you have won the race, reached the pinnacle, accomplished the
objective. But, despite being one of the top financial centres in
the world, the Cayman Islands is ranked as only the second-largest
captive insurance domicile.
Perhaps, then, it is because of this second place ranking that
the Cayman Islands continues to innovate, streamline and enhance
efficiencies in the captive business. With a robust and sound
regulatory environment, the Cayman Islands provides an ideal
platform on which to conduct business within the captive insurance
industry.
Pillars of this platform include:
Legislative Innovations
The new Insurance Law, 2010 of the Cayman Islands enhanced the
application of a risk-based approach to the regulation of different
types of captives. This common sense and practical method allows
factors such as the amount and degree of third party risk to be
taken into consideration by the
