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 »