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Following the licensing of 38 new captive insurance companies during 2011 and a good start in 2012, the Cayman Islands Monetary Authority (CIMA) anticipates net growth in the sector this year.

“While conditions in the international marketplace have been challenging to the formation of captives over the past several years, there continues to be solid interest in the Cayman Islands that translated into a 52% increase in captive formations in this jurisdiction in 2011,” said CIMA’s Managing Director, Mrs. Cindy Scotland.

Underscoring the important role compliance plays within Cayman’s financial services sector, Cayman Finance is pleased to support the Caribbean Regional Compliance Association’s 2012 conference as a sponsor of the event.

Cayman Finance Chairman Mr. Richard Coles today responded to a report on US network television station ABC which focused on Presidential candidate Mr. Mitt Romney’s financial affairs linked to the Cayman Islands.

Cayman Finance will be a Major Sponsor at the upcoming Cayman Islands Chamber of Commerce Career, Education,Training & Jobs Expo taking place Friday, February 3rd, 2012 at the University College of the Cayman Islands.  Cayman Finance will have a booth offering information and education regarding careers in the financial industry.

There were a few surprises in the first Hedge Funds Review Service Providers Rankings. Overall, the response was good, with over 1,000 hedge funds, funds of hedge funds and investors responding to the survey.

Unsurprisingly the Cayman Islands was the most favoured domicile but perhaps more surprisingly, Luxembourg was ranked second followed by Ireland, both onshore European Union jurisdictions.