News - Expertise: Insurance
Read our latest articles, thought leadership, press releases, updates and announcements.
The information within these articles are opinions and/or pieces of thought leadership.
They do not purport to be comprehensive or to render legal advice.
3 Nov 2017
The Anti-Money Laundering Regulations, 2017 ("AML Regulations") were gazetted on 20 September 2017 and came into force on 2 October 2017. The AML Regulations bring about many significant changes to Cayman's anti-money laundering and combating of terrorist financing regime to align it more closely to the FATF Recommendations and global practice.
Perhaps the most important effect is that the AML Regulations now apply to a wider range of Cayman Islands entities, including unregulated investment entities; e.g. private equity or closed-ended investment funds and structured finance vehicles that are not registered with the Cayman Islands Monetary Authority, and investment related insurance entities.
27 Jun 2017
John Dykstra and Abraham Thoppil provide an overview of the law as it relates to insurance and reinsurance in the Cayman Islands.
This article first appeared in the 2017 edition of the The Insurance and Reinsurance Law Review, published by Law Business Research in April 2017.
8 Mar 2017
In this Q&A Abraham Thoppil and Luke Stockdale provide an overview of the law as it relates to insurance and reinsurance in the Cayman Islands. Their contribution formed part of the International Comparative Legal Guide to Insurance & Reinsurance 2017, which provides a broad overview of the law in 30 jurisdictions.
This article appeared in the 2017 edition of The International Comparative Legal Guide to Insurance & Reinsurance published by Global Legal Group Ltd, London in February 2017.
29 Sep 2016
A new Statement of Guidance was recently issued by the Cayman Islands Monetary Authority which sets out their minimum standards in relation to professional indemnity insurance coverage (i.e. for legal costs and claims by third parties for damages arising from acts, omissions or breaches of professional duty) to be maintained by Cayman Islands licensees when conducting regulated activities.
14 Sep 2016
The Maples group recently supported the Cayman Islands domiciliation of Crosswinds Re, a new specialty reinsurance business vehicle established by Crosswinds Holdings Inc., a publicly traded private equity firm and asset manager targeting strategic and opportunistic investments in the financial services sector with a particular focus on the insurance industry. Crosswinds Re recently received approval from the Cayman Islands Monetary Authority as a Class B(iii) Reinsurer.