Cayman Islands' first dedicated reinsurance conference set

"Why Cayman?"

Cayman Islands' first dedicated reinsurance conference set


By Kenneth Araullo

The Cayman Islands’ first dedicated reinsurance event is set to be held this April, discussing the attractiveness of the islands for those in the reinsurance segment.

The event, called [Re]Connect, is scheduled for April 18 and 19, 2024, at the Ritz-Carlton Grand Cayman. This conference aims to unite leading figures, regulators, executives, and other key players from the reinsurance domain for two days dedicated to exchange of knowledge, educational advancement, and networking opportunities.

The event is expected to draw a crowd of both international and local participants, with a keynote speech by the Hon André M Ebanks MP, Deputy Premier and Minister for Financial Services and Commerce, among other roles.

A series of panel discussions will delve into pressing issues within the reinsurance sector, with a focus on providing insights and uncovering strategic opportunities for reinsurance in the Cayman Islands, especially within the life & annuity and property & casualty segments.

Highlighting the recent trend of asset managers moving into the reinsurance arena, [Re]Connect will feature a dialogue between Paul Forestell, managing partner at Brookfield Reinsurance, and Raj Krishnan, partner and CIO at Ares Insurance Solutions. The conversation aims to explore the unique aspects of the reinsurance market, particularly those that are drawing interest to the Cayman Islands.

Kara Ebanks, who leads the Insurance Supervision Division at the Cayman Islands Monetary Authority (CIMA), is slated to participate in a panel on Emerging Regulatory Topics. This discussion will shed light on the Cayman Islands’ efforts to align with global regulatory standards and CIMA’s ongoing initiatives to maintain the jurisdiction’s competitive edge in reinsurance.

“Why Cayman?”

Another panel titled “Why Cayman?” will address the factors contributing to the Cayman Islands’ appeal as a destination for reinsurance businesses. The session will cover licensing and application procedures, the business-friendly climate of the Cayman Islands, and the role of insurance managers in facilitating establishment processes, alongside legal, tax, and actuarial considerations vital for a successful reinsurance operation.

The conference will also explore the burgeoning field of insurtech, highlighting how innovations and technological advancements are transforming risk transfer processes.

Additionally, [Re]Connect plans to offer a glimpse into lifestyle benefits for reinsurance professionals residing in the Cayman Islands, including the logistics of setting up an office and the recruitment process.

“As we look forward to welcoming delegates to the inaugural [Re]Connect conference, I’m particularly excited about the caliber of the speakers that will provide both an international perspective and local insight into Cayman’s reinsurance offering,” Steve Papciak (pictured above), chair of the CIRCA marketing committee said. “The overwhelmingly positive response we have received towards [Re]Connect highlights the potential for the future of this event and the industry as a whole.”

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