News about the Cayman Islands in the Foreign Press

Tuesday,  December 6, 2005

Liberty Mutual now in Montana and the Cayman Islands

SAN DIEGO, USA: Insurance Journal, December 2, 2005 – Now Montana and the Cayman Islands have something in common: Liberty Mutual Alternative Markets. Over the summer, Liberty Mutual gained approval to establish Liberty Mutual Management (Cayman) Ltd and authorization to manage captives in Montana. 

With the establishment of its newest offshore captive management operation, Liberty Mutual Alternative Markets now holds licenses in five domiciles: Bermuda, Vermont, South Carolina, Montana and Cayman. Like South Carolina, the company targeted Cayman for its healthcare expertise, which complements Liberty Mutual’s growing suite of healthcare products such as structured liability programs for nursing homes.

Cayman second in scuba survey

TORONTO, Canada: Globe and Mail, December 2, 2005 – According to Tex Enemark, past president of the Artificial Reef Society of British Columbia, “Before we started sinking ships, nobody had ever heard of British Columbia as a place to dive.” 

Now, he said, B.C. is considered one of the best places in the world to scuba dive, pointing to an annual survey in the U.S. magazine Scuba Diving.

“Out of the top 100 survey, we got eight firsts. No other jurisdiction in the world got eight firsts.”

He said the Cayman Islands came second in that survey. 

Oil majors can claim to have bought oil from Cayman shell companies

NEW DELHI, India: The Organiser, December 2, 2005 – The giant oil majors can technically state that they have not bought oil from Iraq. Instead, they can claim to have bought oil from the oil traders’ shell companies registered in secretive places such as Switzerland or the Cayman Islands.

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