Cayman plans to woo reinsurance sector

(CNS Business): Regulations being finalised for the Insurance Law will include a package of immigration incentives for the reinsurance industry that the premier hopes will attract new business to Cayman. The industry will be one where the promised ten year permits will be rolled out as well as a streamlined application process and, the premier has said, a reduction in work permit fees. Although he has offered similar incentives to new sectors, such as the special economic zone, it is the first time a package has been created for an existing sector. Despite what he described as a “ticklish issue” because of the election campaigning that he said had started, speaking at the opening of this year’s Cayman Captive Forum, Bush said Cayman needed to change its immigration regime and enact legislation to allow business to flourish. Read more on CNS Business