The industry experts featured in the Captive Review Cayman Report reflect on the jurisdiction’s successes in 2017, recent areas of increased focus, and new disclosures firms must adhere to.
In 2017, Cayman’s captive insurance sector continues to thrive. Under analysis is the continuing popularity of group captives for healthcare firms, in lieu of the continued move towards consolidation, SPCs, the steady growth of PICs, Cayman’s viability for insurance-related entities, and more.
With the Caribbean buffeted by several hurricanes during the third quarter of 2017, the matter of business continuity management for Cayman-based firms becomes a matter of amplified importance. When a force majeure event occurs, many firms with poorly defined business continuity plans, those which cannot be implemented in a timely, effective manner, will perish.
Finally, the steps firms must take to comply with the Financial Accounting Standards Board’s (ASU) 2015-09 are also broken down.
We hope this report covers the key issues in Cayman and gives readers a sense of what trends and opportunities are liable to come to fruition as we move into 2018.