Cayman plans to compete with Bermuda in offshore reinsurance

SOURCE: OffshoreAlert

MIAMI, FL March 11, 2008

The potential of the Cayman Islands to rival Bermuda as a fully-fledged, commercial offshore market for international reinsurance will be one of the issues scrutinized at the 6th OffshoreAlert Financial Due Diligence Conference, which is being held in Fort Lauderdale on April 13-15, 2008.

According to a recent article in the Cayman Observer newspaper, a Reinsurance Task Force was established in Cayman last year to look at how the island can compete with Bermuda as a major reinsurance center. The Task Force comprises "a diverse group of industry practitioners", including representatives of domestic insurers, captive managers, and the legal and accounting professions, reported the newspaper.

Special sessions on Cayman and Bermuda will form part of the 6th OffshoreAlert Financial Due Diligence Conference, which is being organized by InsideBermuda's sister newsletter. There will be other sessions on the British Virgin Islands, the Bahamas and even Cuba, the latter of which will look at Cuba's potential to develop an offshore financial center post-Fidel Castro.

For more information about OffshoreAlert's Annual Financial Due Diligence Conference, visit www.OffshoreAlertConference.com or contact Conference Director Naomi Comerford by telephone in Miami, Florida on +1 (305)372-6296 or by email at ncomerford@OffshoreAlert.com