The Cayman Islands is entering a new age in its development as both an economy and a financial services centre.
This is according to Alden McLaughlin, the Premier of the Cayman Islands, in his opening remarks at the Cayman Alternative Investment Summit, taking place this week (Feb 12 and 13).
He said the island is embarking on what will be the biggest phase of change and development since the 1950s, thanks to large investments in its infrastructure and a raft of new legislation designed to enhance and protect the island’s status as a financial services hub.
Some of this legislation covers enhanced protection for intellectual property, new laws for the re/insurance sector and the introduction of laws allowing the formation of exempted limited partnerships.
McLaughlin also highlighted the importance of further substantial investments planned by DART Enterprises, one of the largest investors on the islands, estimated as being worth more than $400 million over the next ten years and $1.3 billion over the next 20.
Chris Duggan, vice president of DART Enterprises, also highlighted the company’s commitment to the Cayman Islands in his welcoming remarks.
Cayman, Alden McLaughlin, Chris Duggan, Insurance, Reinsurance