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Published 30th April 2009, 10:47am

George Town, Grand Cayman - The Cayman Islands captive insurance sector welcomed a large number of visitors to its booth during the Risk Insurance Management Society (RIMS) 2009 annual conference and exhibition, despite reduced visitor numbers.

The three day event, held at the Orange County Convention Centre, Orlando, Florida from 20-23 April 2009 saw over 7,300 visitors ranging from risk and insurance management executives to brokers, insurers and service providers. With 120 educational sessions, keynote

presentations, specialist events and an exhibit, visitors flocked to see more than 400 speakers discuss areas of claims management, employment risks, ERM, finance, industry, insurance, international, legal legislation, loss control and risk management.

The Cayman Islands financial services delegation was 30 strong, comprising of individual representatives from industry, government and the regulator working in partnership. The booth, which was well placed near the main entrance managed to attract a large number of visitors, consisting of both existing clients and a large percentage of the 300 first-time registrants. Additionally, The Cayman Islands Monetary Authority (CIMA) took the opportunity to meet on the booth with other regulatory heads from Bermuda, British Virgin Islands, Vermont, Hawaii and Utah to discuss matters of cross-border co-operation.

Ron Sulisz, Chairman of the Insurance Managers Association of Cayman ("IMAC") said "Despite the number of attendees being down by 30% from last year, we were encouraged by the traffic to the Cayman Islands booth. We have a first-rate financial services industry with an excellent business infrastructure and I am confident that it contributes towards the continued development of our reputation as a leading financial services centre."

Gordon Rowell, Head of Insurance for CIMA added "Government has a distinct role in providing a secure legal framework, ensuring the regulatory regime is supportive and responsive to our leadership position. We believe that our private/public partnership is clearly defined and our philosophy helps ensure the continued stability, quality and integrity of our financials services sector. This is what keeps the Cayman Islands commercially attractive in an increasingly competitive environment."

 

For more information, please contact the Financial Services Secretariat at (345) 945-5819 or via email at financepr@gov.ky.