CIMA to co-Host Insurance Seminar with Fitch Ratings

The Cayman Islands Monetary Authority (CIMA) will co-host a seminar with Fitch Ratings in the Cayman Islands next month. Fitch currently rates the securities of 92 different entities domiciled in the Cayman Islands, and considers it an important market.

Sponsors of the event include Cayman Islands Insurance Association, Greenlight Re, RBC Wealth Management, Cayman Islands Society of Professional Accountants (CISPA), Walkers and Knighthead Annuity.

Deputy Managing Director, Supervision, Mrs. Anna McLean, will make opening remarks on behalf of the Authority, while Fitch will be represented by Ms. Julie Burke, a managing director in the company’s North American insurance rating group; senior directors, Mr. Donald Thorpe and Mr. Jeff Mohrenweiser, and director, Mr. Brad Istwan.

Mr. Thorpe explains that a major objective of co-hosting the seminar is, “to increase the captive insurance industry’s awareness of Fitch Ratings having insurance rating capability, and in particular, the capability to rate captive insurance. We’ll cover our outlook for property insurance, life insurance, US health care and the reinsurance market. Coming just after Rendezvous in Monte Carlo, we’ll also share the latest developments coming out of that series of meetings, as well as regulatory trends globally and in the U.S.”

CIMA’s Managing Director, Mrs. Cindy Scotland, says “We are extremely pleased that Fitch Ratings has chosen the Cayman Islands for this event and we know that it will provide much value to participants. We believe that it reflects their confidence in the jurisdiction. We are grateful to our partners in Industry who have partnered with us to make the seminar accessible to the participants.”

The agenda will include topics such as a Fitch Company Overview, Market Perspectives, Reinsurance Market, Ratings Process/Criteria, Why Ratings?, the Insurance Regulatory Environment, and a Fitch/CIMA Panel Q&A.

The seminar is scheduled for 22 October 2014, at the Grand Cayman Marriott Beach Resort.

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