Cayman Finance welcomed news the Cayman Islands captive insurance industry has reached an all-time high of US$82.8 billion in total assets and US$13.5 billion in total premiums as at 30 June 2013.
“Given 2012 was widely considered very successful for the captive insurance industry, we are particularly pleased to see the 2013 year-to-date growth rates exceeding the 2012 numbers,” said Mr. Gonzalo Jalles, CEO of Cayman Finance.
Jalles said the success of the captive industry demonstrates Cayman’s unique strength as an offshore jurisdiction, which holds leadership positions across several industry areas simultaneously.
“It goes to show the Cayman Islands continues to be a strong financial services centre with both breadth and depth, as our captive insurance industry remains one of the global leaders. Cayman Finance commends the industry professionals and government stakeholders behind this success as it establishes very clearly our commitment to first-class client service and balanced regulation is working,” he added.