Congratulations! Despite the volatile market conditions
permeating the business world, you may have acquired a business in
continuation of the growth of your operations. You have an existing
Cayman Islands captive insurance company (having discovered the
multiple benefits arising from having such a vehicle in your group)
but your new acquisition also has a captive insurance company,
providing similar or complementary insurance to that of your
existing captive. Alternatively, at some point you may have
established a second captive for a particular program or other
reasons but the rationale for a separate captive has now fallen
away.
What can you do? Often, one of the captive insurance companies
can be put into run-off ("Sub A"), thereby reducing
regulatory fees, and you can transfer programs and insurance
policies into the still active company ("Sub B").
However, frequently Sub A still has outstanding liabilities under
its former insurance programs. This requires Sub
