Bermudan reinsurance firm sets up shop in Cayman

(CNS): A company offering insurance and reinsurance management services is expanding its presence to the Cayman Islands to take advantage of Cayman’s position in the catastrophe bond SPV market the company said in a release. Horseshoe Services (Cayman) Limited will focus on non-insurance SPV administration while it is waiting to obtain an Insurance Manager license from the Cayman Islands Monetary Authority in order to administer insurance SPVs as well.

The firm said it will build on the global expertise of the Horseshoe Group, which is based in Bermuda, in managing Insurance-Linked Investment structures such as sidecars and transformers, to deliver superior SPV administration services.

Andre Perez, CEO of Horseshoe Group said the firm was pleased to have established a presence in the Cayman Islands with Cayman Trust Limited. “As an active enabler in the ILS space, it was a natural progression for the Horseshoe Group to have resources available in Cayman where the great majority of the Catastrophe Bond activity takes place. Being able to offer services both in Bermuda and Cayman allows us to better meet our client’s needs,” he added.