Captive Insight Vol I | Page 61

ia.com tte - Fotol lainecreve image © vi Conor Jennings Managing Director Captiva Insurance Managers T: [phone] E: [email protected] W: www.captivamanagers.com As the other directors arrive we move into the manager’s board room where we invite the investment manager and then the auditor to meet with us to discuss the Company’s performance, results and plans. We tend to build these presentations into the board agenda which means that we cover a lot of ground which helps clarify our strategic plans. After a long but successful board meeting we all head back to the hotel for a rest before dinner. This dinner is the final official function, and we are pleased to be joined by the Director of Insurance from CIMA as well as the captive manager and his wife. Over another enjoyable working and social dinner, our local guests recommend that this weekend we also consider going scuba diving. As we are members of the Insurance Managers Association of Cayman (IMAC) we are entitled to special discounted rates, details of which are available on the IMAC website at www.imac.ky. image At dinner we also discuss the success of Cayman’s annual Captive Forum, and its tremendous growth to over 1,300 delegates. It’s suggested that we consider providing a speaker next year to present a case-study of the Company and its history over the years. Details of the Forum can be found at www. imac.ky/Forum Late to bed, but looking forward to a healthy day tomorrow recovering on the beach while the others go diving. om Before the afternoon board meeting, the main reason for being here, it’s a working-lunch at the manager’s offices where I meet the staff that look after our account to discuss recent underwriting activities and overall financial performance of the company. The team of insurance professionals is a pleasure to work with. Although we speak daily, it’s still important to meet our Cayman team face-to-face and iron out any potential problems in advance of the board meeting. As it’s a bank holiday weekend in the US, a number of my fellow directors have brought their families to Cayman with them. Upon meeting them all in the hotel lobby I hear that one group went to Sting Ray City to swim with the rays and snorkel at the reef where they saw conger eels and a number of reef sharks. Another group played golf, and the third drove out to Rum Point for lunch and bathing. Tomorrow, I understand that the activities will include sailing at the Cayman Islands Sailing Club on North Sound, windsurfing and kite boarding at East End. lia.c image © barneyboogles - Foto Every time we visit Cayman, we pay our respects to the Insurance Division of CIMA based in Elizabethan Square, George Town. They are always pleased to see us and interested to hear about our plans for the future. Over the past 16 years, we’ve established a strong relationship and partnership with CIMA. In the early days when we were busy growing the company, our business plan seemed to need updating all the time, and CIMA supported us through it all. Nowadays, with a tricky investment environment and pressure to continue to pay high dividends to shareholders, CIMA has been equally understanding. I seriously doubt whether other regulators would be as knowledgeable about our business, or supportive. © Byr on Mo ore - F otolia.c om “Although we speak daily, it’s still important to m eet our Cayman team face-to-face.” 61