The Re Report

Corporate round-up

The Cayman Islands Monetary Authority has appointed Simon Whicker and Kris Beighton of KPMG as controllers of the local operations of British American Insurance Co (BAICO) in light of its “increasing financial and operational difficulties”. The authority issued a cease and desist order in June, preventing the branch from issuing new policies. BAICO operates in the Caymans as an approved external insurer and is owned ultimately by Trinidad’s CL Financial, subject of a financial bailout earlier this year.

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