Captive Insight Vol I | Page 28

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As an industry, do you think we’re too
heavily regulated?
No, I don’t think we are. I think there is a reasonable
balance within the captive insurance industry, particularly
in domiciles like Cayman and for example Vermont. These
domiciles have regulators that have the specialist expertise
and knowledge of captives that allows for captive-friendly
regulation that is not burdensome on the industry. Some of
the other domiciles that have just opened up have regulators
that have come from the commercial markets and therefore
do not have such a good understanding of the nuances
involved in the management and regulation of captives. In
general, what we have is good. What is being proposed by
Solvency II is overboard, but as long as we as an industry,
including regulators, continue to use a common sense
approach, I don’t think we have anything to fear.

What do you see as the main challenges for
Cayman as a captive domicile?

During your time as an insurance manager
what is the greatest chall