Banking on success

Why do you think your firm has been recognised for this award?

We have a dedicated group of captive insurance banking professionals, many of whom have worked in the captive industry for more than 20 years.

Our captive banking specialists stay up to date on the latest industry developments and regulations and know what it takes to get the job done efficiently, while providing the best possible service to our customers.

We have excellent, long-standing relationships with the Cayman-based captive management firms, fronting carriers and other industry service professionals, and have earned their trust over the years.

What would you describe as your wider USPs as a firm?

We provide a full range of banking services for captives including letters of credit, custody, reinsurance trusts, treasury, and asset management services. We put our clients in the products and solutions that are best for them.

What have been your highlights of the past 12 months?

Being able to grow and serve our customers in a largely work-from-home environment.

What are your goals and objectives for 2022?

We hope to return to the office early next year and look forward to visiting the captive domiciles, such as Cayman, and attending more industry conferences in person.

How would you characterise the health of the captives market in Cayman at the moment?

We continue to see captive growth in Cayman, especially with new group captive segregated portfolio formations.

The captive managers and other service providers in Cayman continue to attract new captives because of their expertise in areas such as healthcare.

The Cayman regulators remain business-friendly and operate an efficient and well-regulated captive and financial services industry.

Martin G. Ellis is senior vice president, manager–Global & Captive Insurance Group at Comerica. He can be contacted at: mgellis@comerica.com