Cayman Islands: Offshore insurance soars

“…the Cayman Islands captive insurance industry hit an all-time high in the 2012-13 financial year.”

“…there were US$13.5 billion in total premiums and US$82.8 billion in total assets as at 30 June 2013.”

According to wikipedia “Captive insurance companies are insurance companies established with the specific objective of insuring risks emanating from their parent group or groups, but they sometimes also insure risks of the group’s customers.”

“Most captive insurers are based “offshore”, in places such as Gibraltar, MauritiusBelize,BermudaThe Cayman IslandsIrelandGuernseyLuxembourgBarbadosMaltaSingaporeAnguilla, the British Virgin IslandsQatar Financial Centre and Dubai International Financial Centre.”


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