Cayman Islands Builds $74 Billion Insurance Hub That Irks Apollo
- Easy rules and catamarans lure business with US life insurers
- Interest has grown as Bermuda tightens reinsurance regulation
The waterfront in Grand Cayman.
Photographer: David Rogers/Getty Images
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The small crowd in pastel polo shirts and sunglasses boarded the catamaran for an afternoon cruise on the Caribbean’s sapphire waters. Tucked under their drinks were napkins emblazoned with a slogan akin to a pickup line: “Let’s go beyond business small talk...”
It was a fresh boatload of US insurance executives, getting wooed to the Cayman Islands.