Role of the Insurance Manager

Role of the Insurance Manager

 

The role of the Insurance Manager in Cayman can be summarised as being responsible for the financial and business affairs of its client companies.

The Manager will typically work in very close association with the Directors of the client company and their designated representatives.

The actual duties of the Manager will vary from client to client but will typically involve working with other appointed service providers for the program being responsible for the administration of the affairs of the client company from a Cayman point of view

Duties will include:

  • Incorporation of the proposed company
  • Provision of registered office and corporate secretarial functions
  • Preparation or assistance with the license application
  • Preparation or assistance in the preparation of the business plan of the company
  • Preparation and maintenance of accounting records
  • Working with the captive’s auditor to produce audited financial statements
  • Monitoring investments of corporate funds
  • Liaison with the Cayman Islands Monetary Authority ensuring all regulatory filings are made
  • Due diligence coordination and documentation management
  • Ad hoc consultancy services
  • Cash and banking services coordination, including letters of credit and timely payment of approved invoices
  • Premium billing and tracking
  • Meeting preparation and coordination
  • Coordination with other service providers