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ARTICLE · 07 APRIL 2024

Insurance And Reinsurance 2024

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All persons carrying on or desiring to carry on insurance business (including reinsurance business) in or from within the Cayman Islands...

Cayman IslandsInsurance
John Dykstra
John Dykstra
Luke Stockdale
Luke Stockdale
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1. Regulatory

1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies?

All persons carrying on or desiring to carry on insurance business (including reinsurance business) in or from within the Cayman Islands need to be licensed under the Insurance Act (As Revised) ("Insurance Act"). In addition, provision is made for the licensing of insurance agents and brokers and those providing insurance management. Applications for licences are reviewed in detail and granted by the Cayman Islands Monetary Authority ("Authority"), which is generally responsible for the supervision and regulation of financial services. Information filed with the Authority pursuant to the Insurance Act is not generally a matter of public record.

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