Group captives—captive insurance companies owned by multiple organizations—represent approximately 19% of all insurance companies in the Cayman Islands. As of Q4 2024, they manage total premiums of approximately $4.9 billion and total asset value of approximately $13.7 billion. Establishing a group captive insurance program provides the flexibility to customize coverage to fit your specific needs…. Read more »
James Trundle Discusses Board Self-Assessments in Captive Insurance Times
In 2023, Cayman Islands Monetary Authority (CIMA) instated the Rule on Corporate Governance, which requires governing bodies to self-assess the performance of the governing body as a whole and individuals. GCM Vice President James Trundle explains how captive insurance companies can utilize this to assess relevant areas and risk management strategies. Self-reflection is an opportunity… Read more »
Is Now the Time to Choose Captive Insurance?
As we near the end of the financial year, it’s a good time to look ahead to 2025 and factors that could impact the global insurance market. Should you be making a change to your insurance? Perhaps! Premium Rate Predictions Following the recent and long-awaited cuts to the Federal Fund rates in September and November… Read more »
Owning Our Outcomes Through Community Outreach
At GCM, we believe in the power of community engagement and the importance of contributing beyond our regular 9-to-5 roles. Our employees are passionate about giving back, and their dedication to various volunteer organizations showcases their commitment to making a positive impact. We’re excited share the inspiring stories of some of our team members and… Read more »
Why Choose GCM
At GCM, we truly love what we do and who we do it with. When you ask our leadership and team why they love working for GCM, the message is clear – our people. When you work for GCM, we care for your career, culture, mental health, and work-life balance because your success is our… Read more »
Meeting Season Cultivates Connection with Insurance Captives
It’s not uncommon to hear the first few months of the year referred to as the “busy season” as we kick off a new year and dive into the first quarter. While busy seasons or quiet seasons differ by person, industry, and role, I have personally found the beginning of the year to be a… Read more »
Employee Experience Helps Own Our Outcomes at GCM
Changing jobs is never easy. There are many unknowns when you transition positions and companies, but it always opens your eyes to new possibilities and perspectives. At GCM, our employee experience is just as important as supporting our Captive insurance partners. “Own Your Outcomes” is a phrase you’ll hear often when working with us, and… Read more »
The Evolving Role of the Insurance Manager: Part Two
This blog is part two of a series by James Trundle, Vice President at Global Captive Management Ltd. (GCM), and Barbara Fawcitt, Assistant Vice President at USA Risk Group (Cayman) Limited. Read part one on the GCM website. Prioritizing Due Diligence Managers must conduct initial and ongoing due diligence to ascertain the fitness and probity… Read more »
The Evolving Role of the Insurance Manager: Part One
The Captive industry has a robust history in the Cayman Islands, with the first Captive established there in 1976. Nearly 50 years later, much has changed – especially the role of the Insurance Manager. The Insurance Manager is the principal service provider of this industry, a role that includes extensive expectations. The primary expectation is… Read more »
The Rule and Statement of Guidance on Reinsurance Arrangements
In May 2023, the Cayman Islands Monetary Authority (CIMA) issued new legislation that will impact all captives, including Portfolio Insurance Companies or PICs, who use outward reinsurance. The legislation was published in May 2023 and will become effective on May 26, 2024, by which point all captives who purchase reinsurance will need to have reviewed… Read more »