Conference calendar November

November will see the return of two popular conferences, the Cayman Captive Forum and Campbells Cayman Fund Focus. 

Cayman Captive Forum 

Cayman’s largest conference, the Cayman Captive Forum, which is held at The Ritz-Carlton, Grand Cayman from 27 to 29 November is set to attract a record number of delegates again this year.  

Seamus Tivnan, chairman of IMAC’s Cayman Captive Forum committee who has been involved in the organisation of the Captive Forum for the past 15 years says the conference has now reached a saturation point at about 1,200 attendees where it physically cannot accommodate more delegates.  

Registrations for this year’s Forum are at least 10 per cent ahead of where they were this time last year, he says, which is likely to be a result of delegates signing up earlier.  

The Captive Forum is largely organised by volunteers from the Insurance Managers Association of Cayman. During the three days, the event features educational sessions covering prevalent and emerging issues in the insurance and financial industry and their effect on captives. Sessions also highlight changes to the local regulatory environment as well as to auditing and accounting issues relating to insurance companies. 

“It really is about what is new in the industry and what has been changing in the last 12 months,” Tivnan says. “Last year we had some presentation on the US Patient Protection and Affordable Care Act and again Accountable Care Organisations will be highlighted in one of the key note speeches. We are also having an update from one of the major brokerage houses Marsh on the state of the market.” 

The agenda of the conference reflects the make-up of captives in Cayman. About 35 per cent of the captives in Cayman are healthcare captives, followed by workers’ compensation schemes (22 per cent).  

According to IMAC estimates Cayman’s captive industry as a whole employs a total of 300 staff and contributes in excess of US$83 million to Cayman’s annual GDP. 

Last year nearly one third of the delegates were current or prospective captive owners and 27 per cent were first time visitors to the Cayman Captive Forum. The remainder is made up by service providers to the captive industry. 

Many of the delegates are coming from overseas providing a boost to the local tourism sector and economy.  

“We are estimating just based on the sell out of the Ritz-Carlton and close to sell out of the Westin, the Grand Cayman Beach Suites and a lot of the other hotels and major condominiums at least 700 rooms for an average of three nights each will be sold,” says Tivnan. 

While a number of captive owners take the opportunity to have their annual meetings at the time of the conference, most people take advantage of the educational side of the conference, he adds. 

“It is an opportunity to meet your peers in the industry, the service providers that you have to meet, auditors, reinsurance brokers, investment managers, in a very nice location over a two day period.”  

Last year the Captive Forum was noted as the largest captive conference. “I don’t have the figure this year for Vermont, they are slightly different conferences,” says Tivnan. “We don’t really necessarily want it to be the largest, we want it to be the best.” 

 

Campbells Cayman Fund Focus 

Law firm Campbells returns with its Cayman Fund Focus conference to the Westin Casuarina on Friday, 16 November, 2012. It is the tenth time the longest established fund conference in Cayman is held.  

The one day event tackles current issues in the funds industry and offers a platform for candid discussion and debate. With a total of four panel discussions and the presentation of one case study the conference aims to provide attendees with valuable insight that is solution-focused, Campbells said. 

Starting off with regulatory updates from the Cayman Islands Monetary Authority and an update on the Foreign Account Tax Compliance Act, the following panel discussions will be based on a case study that pulls together the most interesting fund topics that have arisen in the past 12 months.  

Three panels will address pertinent issues in the start-up phase of a fund, operational issues as well as restructuring, liquidation and litigation issues. The event will close with a panel of senior industry figures exploring  

the successes and failures of the investment funds industry in Cayman over the last decade and discuss the challenges that lie ahead in maintaining the Cayman Islands’ market leading position for the next decade.  

Panellists include regulators and industry representatives from the Cayman Islands and overseas.  

NO COMMENTS