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Aureum Re Becomes the 3rd Class D Reinsurance Company to Establish in the Cayman Islands
Stuarts Walker Hersant Humphries is pleased to welcome Aureum Reinsurance Company (“Aureum Re”), as the 3rd Class D Reinsurance Company based in the Cayman Islands.
Aureum Re will focus on third party reinsurance of fixed annuities, variable annuities and supplemental contracts issued by insurance companies domiciled in the United States.
CEO David Towriss says, “we are extremely happy to have established such an innovative company in the Cayman Islands and look forward to utilizing the local staff and working with Cayman-based personnel.”
Financial Services Minister Wayne Panton says, “Government joins industry in welcoming Aureum Re to Cayman as our newest Class D reinsurance licensee. We’re encouraged that they are setting up physical presence here, which further solidifies Cayman’s position as a blue-chip jurisdiction for reinsurance and enhances our socioeconomic strength.”
Stuarts Walker Hersant Humphries advised Aureum Re in relation to the establishment and licensing of the Reinsurance Company.
Chris Humphries, Managing Director of Stuarts Walker Hersant Humphries said “it was a pleasure to work with Aureum Re and its management team on a project that is so unique and we wish them every success in the future and look forward to seeing their plans for growth and the improvement in the reinsurance industry in the Cayman Islands.”
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