Cayman to chase business from Bermuda

(CNS Business): Capturing the re-insurance industry from Cayman’s main competitor, Bermuda, could net the Cayman Islands around as much in GDP as Cayman’s entire financial services industry currently contributes, according to statistics from the Association of Bermuda Insurers and Reinsurers (ABIR). With the industry in Bermuda in decline, insurance professionals in Cayman say the forthcoming legislative changes about to be enacted will pave the way for commercial reinsurers to incorporate in the Cayman Islands, and this country will then be well positioned to become the domicile of choice for starting a commercial reinsurer. Read more on CNS Business