Cayman Islands Insurance Regulatory Update

The Cayman Islands Monetary Authority (“CIMA”) has issued a new Regulatory Policy on Licensing for Class B Insurers, effective immediately, which sets out CIMA’s expectations and licensing requirements for applicants of class B insurer’s licences. In addition, CIMA has a new Rule on Professional Qualification Requirements for Insurance Companies, Brokers, Agents and Agencies, effective 1 December 2021, which sets out minimum professional qualification requirements for relevant persons of insurance companies, brokers, agents and agencies.

Please click on the advisory links below to read a summary of the key practical points.

CIMA Issues New Licensing Policy for Class B Insurers

CIMA Issues New Professional Qualification Rule for Insurance

BRITISH VIRGIN ISLANDS
Lucy FrewPartnerT +1 345 814 4676lucy.frew@walkersglobal.com
Nicholas QuinManaging DirectorT +1 345 914 4295nicholas.quin@walkersglobal.com

CAYMAN ISLANDS
Lucy FrewPartnerT +1 345 814 4676lucy.frew@walkersglobal.com
Barnaby GowriePartnerT +1 345 914 6365barnaby.gowrie@walkersglobal.com
Philip PaschalidesPartnerT +1 345 814 4675philip.paschalides@walkersglobal.com
Tony De QuintalSenior CounselT +1 345 914 6388tony.dequintal@walkersglobal.com
Juliana TangSenior CounselT +1 345 814 4612juliana.tang@walkersglobal.com
Steven ManningChief Executive Officer – WPST +1 345 814 7612steven.manning@walkersglobal.com
Anne DolanChief Operating Officer – WPST +1 345 814 7620anne.dolan@walkersglobal.com
Nicholas QuinManaging DirectorT +1 345 914 4295nicholas.quin@walkersglobal.com
Dorothy ScottManaging DirectorT +1 345 914 4202dorothy.scott@walkersglobal.com

DUBAI
Daniel WoodManaging PartnerT +971 4 363 7912daniel.wood@walkersglobal.com
Barnaby GowriePartnerT +1 345 914 6365barnaby.gowrie@walkersglobal.com
Anne DolanChief Operating Officer – WPST +1 345 814 7620anne.dolan@walkersglobal.com

HONG KONG
Alice MolanPartnerT +852 2596 3425alice.molan@walkersglobal.com
Anne DolanChief Operating Officer – WPST +1 345 814 7620anne.dolan@walkersglobal.com

LONDON
Sara HallPartnerT +44 (0)20 7220 4975sara.hall@walkersglobal.com

SINGAPORE
John RogersManaging PartnerT +65 6595 4673john.rogers@walkersglobal.com