Captive insurers set up units in Cayman Islands

Posted On: Aug. 1, 2018 5:33 AM CST

The Insurance Managers Association of Cayman Islands said that 12 new insurance licenses were issued in the second quarter driven by new legislation that allows captive insurers to incorporate subsidiaries, Cayman Compass reported. The subsidiaries are referred to as "portfolio insurance companies." The number of international insurers registered in the Cayman Islands total 698, the association added.