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ARTICLE · 15 AUGUST 2024

To NAIC Or Not To NAIC?

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Arguably the most notable takeaways from the [Re]Connect conference were the updates on the positive progress the Cayman Islands has made in its quest toward (hopefully) making a formal application to secure Qualified Jurisdiction (QJ) status with the NAIC.

Cayman IslandsInsurance
Derek Stenson
Derek Stenson
Philippa Gilkes
Philippa Gilkes
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Arguably the most notable takeaways from the [Re]Connect conference were the updates on the positive progress the Cayman Islands has made in its quest toward (hopefully) making a formal application to secure Qualified Jurisdiction (QJ) status with the NAIC. This is unquestionably an exciting prospect and would be a massive milestone event for our local industry. Whilst the public announcements have generated confidence in CIMA's progression as a reinsurance jurisdiction and keeps the jurisdiction on the "front foot" in terms of regulatory evolution, there is much speculation within the industry as to changes QJ status might bring, both positive and negative.

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