Explore the latest news, insights and developments from IMAC and the Cayman Islands insurance industry, including updates on captive insurance, reinsurance, regulation and industry events.
Promising numbers continue for Cayman’s Insurance Industry according to CIMA’s latest statistics
Sep 20, 2021
George Town, Grand Cayman, September 20, 2021 – The Cayman Islands Monetary Authorities (CIMA) recently published statistics showing 2021 is on track for another successful year for Cayman’s insurance industry. (Click here for the full PDF press release)
CIMA Update and Roundtable Discussion Join us for an informative discussion as Cayman Islands Monetary Authority (CIMA) representatives touch on the current state of the industry while providing the latest industry figures and an outlook for the year ahead
Ruwan Jayasekera, Head of Insurance
Mr. Jayasekera started his career in the insurance industry soon after graduating from the University of Colombo, Sri Lanka, in 1998. He has over fifteen years of experience in insurance, in both regulatory and industry roles. He has experience working for life and property and casualty insurers. He holds a Master’s degree in Business Administration and a Bachelor’s degree in Statistics, both from the University of Colombo, Sri Lanka. He is also a Chartered Insurer and holds Associate designation from the Chartered Insurance Institute, United Kingdom.
Suzanne Sadlier, Deputy Head of Insurance
Ms. Sadlier brings over 10 years of knowledge and experience in the insurance industry having worked in Ireland in a variety of positions within areas such as claims, underwriting and regulation. In her capacity as a Reinsurance Specialist, she was responsible for managing complex license applications and providing technical advice to the Insurance Supervision Division regarding the day-to-day supervisory operations. She also provided recommendations in relation to (re)insurance laws and regulations.
George Kamau, Deputy Head of Insurance
Mr Kamau brings over 15 years of experience in the financial services industry, majority of which was spent at CIMA. He first joined the Authority in September 2009 as an Insurance Senior Analyst. He was later promoted to the role of Chief Analyst in March 2014, a capacity in which he was primarily responsible for directing and supervising the work of an assigned team to ensure that the activities and records of licensees were in compliance with regulatory requirements.
Peter Fox, Reinsurance Specialist
Mr. Fox’s career spans nearly 46 years in the insurance industry. Naming some of his most recent positions held prior to joining CIMA, Mr. Fox served as Senior Manager with KPMG in their United Kingdom (UK) office from 2008 – 2011. During his time there, he provided extensive audit and consulting advice to Lloyd’s and London market companies. This included a blend of mergers/acquisitions, Solvency II and asbestos/health hazard/pollution claim advice to clients.
Black tie event raises funds in the name of education
Feb 19, 2021
George Town, Grand Cayman, February 18, 2021 – Members of the Cayman Islands Insurance industry came together at the Kimpton Seafire Hotel on Saturday 13th February to support the 9th Annual Black Tie Gala & Scholarship Fundraiser held by the Insurance Managers Association of Cayman (IMAC). The annual event raises funds for the student scholarship fund which over the years has raised in excess of US$4.7 million and has enabled 58 young Caymanians pursue further studies around the globe in disciplines as diverse as Business Management, Arts and the Sciences.
2020 figures highlight resilience of Cayman International Insurance
Feb 19, 2021
George Town, Grand Cayman, February 18, 2021 – Cayman’s international insurance industry was not immune to COVID-19’s impact on the global economy posted strong 2020 captive returns per the Cayman Islands Monetary Authority (CIMA)’s recently published 2020 captive statistics. (Click here for the full PDF press release)
Cybersecurity Industry Update - Isabel Gumeyi, PwC
Isabel is a Senior Manager at PwC specializing in Technology Risk
Assurance and Advisory services. With over thirteen years of experience, she
leads the delivery of IT engagements for clients in different industries
ranging from insurance and banking to governmental agencies. Her role
includes Cybersecurity and data protection advisory services, assisting clients
to understand relevant regulations and industry frameworks; supporting them in
the development of an appropriate response framework and various knowledge
transfer activities.
Banking/Investment Update - Marcus Stafford, Scotia Bank
Marcus has over 20 years experience in delivering
integrated service solutions for captive insurance companies and brings
industry experience and expertise to industry. He now leads the execution of
Scotiabank’s captive insurance service strategy and brings expertise in
delivering services to single parent, health care and group captive insurance
companies. Marcus is an Associate of the Chartered Institute of Bankers (ACIB
designation), is a Chartered Investment Manager registered with the Canadian
Securities Institute, and is a Certified Anti Money Laundering Specialist