Atlas Insurance Management, an independent insurance management and consulting company specializing in captives, has announced the opening of an operation in the Cayman Islands.
“We are very pleased that the Cayman Islands Monetary Authority approved our license application,” stated Atlas Chairman Martin Eveleigh. “We view the Cayman Islands as a premier domicile for captive management, and are extremely impressed with the infrastructure and regulation.
“A number of our prospects have expressed an interest in having Cayman as the chosen domicile and we now have the ability to offer a greater choice of domiciles for these prospects and clients. In particular we intend to use the Cayman Islands for clients affiliated with the healthcare industry, such as physician groups, clinics, hospitals, long-term care facilities and managed care organizations, as well as for prospects from Latin and South America who can take comfort in the fact that the Caymans are the fifth largest financial center in the world.”
Clive Harris has been appointed as the director of Atlas Insurance
Management (Cayman) Limited. He has over 30 years experience in offshore finance and was formerly the Managing Director of IMS (Cayman) Limited where he oversaw the captive, trust and company management operations. Following a five year sabbatical, Mr. Harris was appointed as the Managing Director of the Bank of
Bermuda (Cayman) Limited until its sale to HSBC.
“We are delighted to have someone of Clive’s stature and experience on the Board of our Cayman operation, and it is a sign of our commitment to the growth of our business in Cayman that we have been able to attract a person with his caliber as a director,” Eveleigh indicated.
Atlas currently manages in excess of 100 captives domiciled in the Bahamas, British Virgin Islands, Nevis and Anguilla and offers access to affiliated cell companies and life insurers in 4 jurisdictions.
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