News about the Cayman Islands in the Foreign Press

Thursday, February 5, 2004

Cayman insurance company affects doctors' premiums

BOSTON, USA - According to the Boston Business Journal, the structure and practices of Cayman-registered Controlled Risk Insurance Company Ltd, which insures doctors affiliated with Harvard hospitals, affects what Massachusetts doctors pay for malpractice insurance more than any other factor. 

Jamaica's first index fund is registered in Cayman

KINGSTON, Jamaica - The Jamaica Gleaner reports that the JMMB Select Index Fund, Jamaica's first index-based mutual fund, is being launched by JMMB Securities, a subsidiary of Jamaica Money Market Brokers, but the fund itself is registered in the Cayman Islands.

Cayman contributes $24.6m to Butterfield profit

HAMILTON, Bermuda - According to the Royal Gazette, the Bank of Butterfield's Cayman operations represented net income of $24.6 million out of its 2003 earnings of $59.5 million, after excluding a $17 million gain on the sale of subsidiaries in Hong Kong, a 14.6 percent jump on 2002 earnings.  Increased loan demand in Cayman also contributed to a 9.5 percent increase in the bank's total loan portfolio to $1.9 billion.

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