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Cayman Islands Premier and Minister of Finance with delegates at the Cayman Islands Financial Services Booth, RIMS 2011, Vancouver, BC, Canada.

Published 12th May 2011, 4:53pm

George Town, Grand Cayman — Over 30 delegates from public and private sector attended the Risk and Insurance Management Society’s (RIMS) Conference and Exhibition in Vancouver from 1-5 May.

RIMS has the largest attendance of any North American risk management conference, and Cayman has been an exhibitor for over 10 years. This conference facilitates meetings and potential new business by private sector insurance managers and the Cayman Islands Monetary Authority (CIMA). It also presents an opportunity to meet with delegates of other jurisdictions and reinforce those important relationships.

Cayman Islands Premier and Minister of Finance, the Hon. McKeeva Bush, also attended the conference. He noted, "Throughout the years, the Cayman Islands presence at RIMS has enabled us to showcase our jurisdiction as the domicile of choice for captive insurance companies. But it also gives us an opportunity to speak about new developments in our insurance industry, which has been a market leader for many years."

At the Cayman Islands reception, Mr. Bush addressed over 200 attendees on the Insurance Law, 2010, and increased regulatory powers as well as publicly thanking existing clients for placing their risk management needs in our the hands; the Insurance Managers for providing quality services that allow the Cayman Islands to compete and succeed globally, and CIMA for their commitment to the highest regulatory standards.

In attendance on behalf of the Cayman Islands were IMAC Chairperson, Mrs. Monique MacDonald; CIMA’s Deputy Head of Insurance Supervision, Mr. Dwight Merren, as well as representatives from over 20 private sector companies, including banks, insurance managers and auditors.

Commenting on the overall experience at RIMS, Mrs. MacDonald said, "This year’s conference and exhibition was well received. Vancouver was a great venue for RIMS 2011 and exhibiting there provided us with the opportunity to meet risk managers and other delegates from various market segments."

"Conference attendees experienced a taste of the Cayman Islands with the ever-popular Tortuga Rum Cakes, as well as having an opportunity to meet with our representatives and discuss captive insurance business," Mrs. MacDonald added.

 

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