Insurer launches Cayman captive facility

Crum & Forster’s accident and health division has launched a captive facility in the Cayman Islands. 

The Crum & Forster SPC Captive will allow Crum & Forster to issue offshore insurance policies as well as facilitate reinsurance transactions for various clients including but not limited to policyholders, agents and managing general underwriters, according to a statement published on Friday.

"We are very excited about this new legal entity and view it as a real opportunity to grow our business in the offshore insurance and alternative risk transfer market over the next several years and beyond,” Gary McGeddy, president of accident and health, said in the statement.