Canada is a key market for Cayman Islands captives, according to Kieran O’Mahony, chairperson of the Insurance Managers Association of Cayman (IMAC).
The Cayman Islands captive insurance industry continues to build its position within the Canadian market, according to IMAC.
Industry professionals from the Cayman Islands will be attending the upcoming 2016 Risk and Insurance Management Society (RIMS) conference, being held in Calgary between 11 and 14 September, to explain the benefits of doing business in Cayman.
O’Mahony said: “With the 2011 tax information exchange agreement between the two countries, the strength of our legislative and regulatory infrastructure, and the extensive experience and expertise of our local service providers, Cayman offers Canadian companies a product that is well-tested and efficient.”
He added: “Our business cultures are similar and our laws are common law based, and with a number of Canadian captives already domiciled in Cayman we are excited to have this opportunity to continue the trend and to explore these synergies further.”
