Competitiveness & Innovation The Cayman Islands Strategy and Vision

2012 CARIFORUM Conference

Agenda

• Overview: The Cayman Islands

• Cayman’s Strength as an IFC

• Opportunities for diversification

• Current Projects

• Future Growth

• Q & A

Overview: The Cayman Islands

General Overview

The Cayman Islands is a British Overseas Territory located in the Caribbean, with ready access to markets in the Americas and the UK. We’re a preferred jurisdiction for the structuring and domiciling of sophisticated financial services products because of our solid credentials, based on our three core tenets of integrity, stability and quality.

Our integrity results in a strong commitment to a responsible and responsive business environment.

Cayman’s stability is grounded in the fact that we’re a mature, well-established provider of global financial services.

And the quality of our service offerings lies in the depth and breadth of experience available.

Cayman Islands

Gulf of Mexico

Miami, Fl.

Cuba

Cayman’s Economy

Our major sectors

Sources: Cayman Islands Monetary Authority

and the Cayman Islands General Registry, 2012

Mutual Funds 10,871 registered

125 Administrators

Companies 93,140 registered

Banking & Trusts 15 Class ‘A’

220 Class ‘B’

Insurance 758 Insurance Companies

Total premiums: US$8.88 billion

Total assets: US$78.9 billion

All major indicators point to the resilience and robustness of the Cayman Islands economy.

The Cayman Islands Monetary Authority (CIMA) regulates our financial services industry to ensure it remains competitive, responsive and efficient. CIMA also cooperates with overseas regulatory authorities to facilitate greater supervision of our industry.

Agreements

• 19 bilateral agreements in place with other jurisdictions

• 4 multilateral agreements exist with the International Association of Insurance Supervisors (IAIS), US banking regulators, the International Organisation of Securities Commissions (IOSCO), and eight Caribbean regulators.

Cayman’s Strengths as an IFC

Cayman’s Strengths as an IFC

People • Diversity of workforce

Product

• Stability

• Tax neutrality

Responsiveness of Government

• International Standards

• Innovation facilitation

Cayman’s Strength as an IFC (cont’d)

Source: Global Financial Services Index, Sept 2012

*

Cayman’s Strength as an IFC (cont’d)

Hedge Funds

The Cayman Islands is the global leader in fund establishment, administration and listing. More than 75% of the world’s hedge funds are domiciled here.

Insurance

We’re the second largest insurance captive domicile in the world, with 758 companies (including 125 SPCs); US$8.8 billion in premiums; and US$78.9 billion of assets under management, as at 30 June 2012.

Banking

In 2010, the country ranked fifth in terms of value of liabilities booked (US$1.78 trillion) and sixth in terms of assets (US$1.85 trillion).

Sources: Insurance Managers Association of Cayman;

Cayman Islands Monetary Authority

Opportunities for Diversification

Global trends (Demand)

• Market needs

• Source & destination of investment flows

The Cayman ‘offer’ (Supply)

• Resources

• Infrastructure

• Competitive advantages

Potential New Industries for Cayman

• IT & Software

• Environmental technologies

• Healthcare

• Training & Education

• Creative industries

• Professional services

• Transportation & Logistics

Current Projects

• Cayman Enterprise City

• Special Economic Zone

• Health City Cayman Islands

Cayman’s Economic Growth*

Future Success as an IFC

• Diversification is key

• Resource acquisition/management

○ Availability of skilled personnel

• Appropriate legal, regulatory and institutional framework

• Access to international financial markets

• Access to customers

• Availability of business infrastructure

•○ Continual economic development

• Stability of business environment

• Government responsiveness

• Operational cost

• Quality of life

Contact Information

Samuel Rose Deputy Chief Officer

Ministry of Finance (Finance Services)

Suite 126, Government Administration Building

Grand Cayman KY1-9000, Cayman Islands

t: 345.945.0943

e: financepr@gov.ky

Website: www.caymanfinance.gov.ky