Marsh gets new captive licence in Cayman Islands
The Cayman Islands Monetary Authority (CIMA) has issued a licence for Mangrove Insurance, Marsh’s new segregated portfolio facility in the Cayman Islands. With this move, Marsh aims to provide diverse risk management solutions with a composite licence covering both general and long-term business opportunities. The firm offers a variety of cell captive facilities under the Mangrove brand, located in different domiciles. These facilities allow clients to experience the advantages of an owned captive without assuming the administrative, capital, and governance costs of a single-parent captive.