Archive for February, 2015

CIMA publishes investment digest for 2013

Friday, February 20th, 2015

The Cayman Islands Monetary Authority (CIMA) has published its latest investment digest.

However, this compendium of financial information is now more than a year old. While the regulator publishes much more up to date data on its site, the annual digest, which pulls together investment information, is usually one year behind. The data comes from over 8,700 funds which were regulated by CIMA in 2013.

The Statistical Trend Analysis Section compares the data with 2012 and says that the net asset value of regulated funds increased by 8% to USD 2.127 trillion.

It points to 11,379 regulated funds at 2013 year end and some 2,635 Master Funds, as compared with 1,891 in 2012. With 8,744 Registered, Administered and Licensed Funds, compared to 8,950 in 2012 net income in 2013 was still higher at USD 186 billion, compared to USD 138 billion in 2012. Net income for Master Funds also increased to USD 158 billion from USD 88 billion in 2012.

According to the digest, 37% of all funds that filed the FAR in 2013 had total assets of more than USD 100 million.

IMAC reports steady growth in Cayman Captives

Tuesday, February 10th, 2015

The Cayman Islands remains the leading jurisdiction for healthcare captives, being home to 34% of the captives in this classification, the Insurance Managers Association Cayman (IMAC) has stated. IMAC also noted that 22 new captives were formed in this jurisdiction during the year 2014.

The total number of captives domiciled in Cayman was 759 as at December 31, 2014, pure captives representing 415 of these and a further 139 being segregated portfolio companies, writing total premiums of USD 12 billion and holding total assets of USD 51.5 billion.

Increasing competition from more than 80 captive domiciles worldwide has required diligence on behalf of the industry to continue to attract new captives, according to IMAC.

IMAC further noted that Cayman captives are increasingly being used for more innovative uses, for example, for insuring against cyber risk, terrorism threats and environmental pollution.