A captive insurance company originated as one that only insured the risks of its parent. However, now the term refers to any insurance company set up in a captive jurisdiction and not regulated as a regular insurance company. The main types of captive are.
The procedure for formation and licensing of captive insurance companies can be straightforward. Once the decision is made to make use of CSI International the following are the typical steps to set up a captive insurance company in the Cayman Islands.
Captive Insurance companies are created/formed for both economic and risk management purposes. By forming a captive insurance company, a business can lower insurance costs in comparison to premiums paid to a traditional insurance company.
The role of the Insurance Manager in Cayman can be summarised as being responsible for the financial and business affairs of its client companies and also act as an extension of the insurance division of the Cayman Islands Monetary Authority.
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Follow this space for links to Industry and Business Partners as well as Cayman Islands Government and Regulatory Agencies
The procedure for formation and licensing of captive insurance companies can be straightforward. Once the decision is made to make use of CSI International Underwriting (Cayman) Ltd. (“CSI”) as Insurance Manager the following are the typical steps:
Captive Insurance companies are created/formed for both economic and risk management purposes. By forming a captive insurance company, a business can lower insurance costs in comparison to premiums paid to a traditional insurance company.
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The role of the Insurance Manager in Cayman can be summarised as being responsible for the financial and business affairs of its client companies.
The Manager will typically work in very close association with the Directors of the client company and their designated representatives.
Follow this space for updates on Captive Insurance, International Finance, Cayman Islands Financial Industry and related news articles.
Follow this space for links to Industry and Business Partners as well as Cayman Islands Government and Regulatory Agencies
Located across the road from the picturesque Seven Mile Beach in this world leading offshore financial jurisdiction, CSI International has been a licensed Insurance Manager in the Cayman Islands since 1982 and is one of the longest established captive insurance management offices in the Cayman Islands.
Regulated by the Cayman Islands Monetary Authority and Licensed under the Insurance Law our clients’ insurance and reinsurance activities include workers’ compensation, product liability, professional liability, environmental bonding, surety, warranties, annuity and life products.
CSI operates in association with Cayman Management Ltd., an affiliated companies management office representing over 500 Clients, providing general corporate management and other specialised services in a number of areas including the provision of independent directors for funds, shipping, yacht and aircraft registration and assistance with local property management.
As a medium sized, independent management office, our philosophy is to develop strong and enduring partnerships with our clients.
David Roberts
Managing Director