One of the main ingredients of the Cayman Islands’ success as an international financial services centre is this jurisdiction’s regulatory framework. Cayman’s growth into the second largest off-shore captive insurance domicile, the premier jurisdiction for hedge fund formation and a major domicile for banking services is testament to this fact.

Our captive insurance licensees and their service providers can attest to Cayman’s robust, yet responsive, regulatory regime. It is a framework designed to enhance the safety and stability of the financial sector and to hold licensees to the highest regulatory standards, without stifling business.

As regulator of Cayman’s insurance, banking, fiduciary, and investments and securities services, part of the mission of the Cayman Islands Monetary Authority (CIMA) is to foster a thriving and growing, competitive, and internationally recognised financial services industry, through appropriate, responsive, cost-effective and efficient supervision.

In carrying out its mandate, CIMA is responsible for licensing/registration; monitors regulated entities and, where necessary, takes enforcement action for non-compliance. It also reviews and develops industry measures; advises the government on regulatory and related matters; provides assistance to overseas regulatory authorities and represents the interests of the Cayman Islands in the international regulatory arena.

Individually, and collectively through IMAC, Cayman’s insurance managers have a critical role in helping to ensure the integrity, high standards and competitiveness of the insurance sector. CIMA values IMAC’s commitment and continued contribution to the development and success of Cayman’s captive insurance sector and the jurisdiction as a whole.