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17th of May 2012

Cayman boosts captive stats in 2011

Vicky Beckett 23/01/2012

The Cayman Islands reported having 739 captives at the close of 2011.
 
The domicile licensed 38 captives, but 37 licences were cancelled which left an increase of one captive throughout the year.
 
Across 2010, 25 new captives were licensed.
 
Total premiums were reported at an unprecedented $11.76bn on December 31, 2011, in comparison to $8.6bn the year before.
 
In December, the Cayman Islands Monetary Authority listed six newly registered companies.
 
These include Athenaeum Insurance on December 1, Grocer Re and Vitality Re III on December 15, Ibis Re II on December 29 and Exeter Reassurance and Yukon Re on December 30.
 
The Cayman Islands continues to be the leading jurisdiction for health care captives.
 
As at December 2011, health care was the primary line of business for 256 companies.
 
Workers’ compensation remained the second largest line of business with 161 companies providing this as their primary type of risk insured.
 
Out of 739, 669 captives are covering risks located in North America.
 
Out of 736, 416 are pure captives, 124 are segregated portfolio companies, 75 are group captives, 52 are association captives, 36 are special purpose vehicles, 32 are open market insurers and 1 is a rent-a-captive.

Tags: Captive, Cayman Islands, Cayman Islands Moneatry Authorit, Health care, Insurance, North America, Workers' compensation

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Michael 22/02/2012 8:16am

Sure Evette. WC pnateits are welcome to find great doctors here too! They may have to pay directly, but I see no reason not to once their C4 is in place.

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