Cayman National Bank (CNB) opened a representative office in Panama last week, as a delegation of public and private sector officials embarked on a trade mission to that country.

Attending the ceremonial opening in Panama City last Wednesday were President and CEO of CNB Stuart Dack, Director Peter Tomkins, President of International Financial Services Ian Phillips, Senior Vice President Latin America Carlos Guzman, Board Chairman Benson Ebanks and Director Sherri Bodden-Cowan.


Sagicor manages disaster facility

The World Bank said that Cayman Insurer, Sagicor General Insurance, would manage its new captive insurance facility.

The latest facility will be available to the Cayman Islands and other Caribbean countries that will obtain a rapid injection of funds in the event of a disaster.

The World Bank announced the creation of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) earlier this month.

The CCRIF has pledges from the World Bank shareholding countries including the United Kingdom, Bermuda, Canada, France and the Caribbean Development Bank.


Investors Network funds company

The Cayman Angel Investors Network (CAIN) signed its first investment agreement to fund the expansion of an existing company.

CAIN stopped short of disclosing the local company, which would receive the funding.

The group, which is a network of local business leaders and entrepreneurs, was launched exactly a year ago.

CAIN was set up to stimulate business innovation, provide capital, strategic advice and mentoring to up and coming companies.