Laws to Attract Insurance Business, and to Help Senior Citizens, Now in Force

Grand Cayman, 28 June 2022 – The Insurance (Amendment) Act, 2022<http://gazettes.gov.ky/portal/pls/portal/docs/1/13180704.PDF> and the Public Recorder (Amendment) Act, 2022<http://gazettes.gov.ky/portal/pls/portal/docs/1/13180703.PDF> are now in force following their publication today in the Cayman Islands Gazette.

The Insurance Act amendment is intended to strengthen the Cayman Islands’ position in international reinsurance and domestic insurance. The Public Recorder Act amendment is part of Government’s initiative to ease senior citizens’ financial burdens.

The Cayman Islands Parliament passed both Acts on 8 June, during its First Sitting of the Third Meeting of the 2021-2022 Session. His Excellency the Governor assented to both Acts on 24 June.

More information on the legislation is here<https://www.mfs.ky/news/amendment-intended-to-attract-investment-and-benefit-clients/>.