During a recent media briefing, Hon. Andre Ebanks, MP, Premier & Minister for Financial Services and Commerce, highlighted how the Cayman Islands’ application for US National Association of Insurance Commissioners (NAIC) Qualified Jurisdiction Status (QJS) could further boost the territory’s appeal for ILS, while also creating opportunity for the island to mature in the reinsurance space.
As our sister publication Reinsurance News reported, the Cayman Islands recently submitted an application to the US National Association of Insurance Commissioners (NAIC) for Qualified Jurisdiction Status (QJS).
Reinsurance is a major area of growth for Cayman’s expanding financial services sector and given that the majority of its reinsurance business activities originates from the United States.
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