Despite the softening of the global insurance market, the Cayman Islands captive sector reported continuing growth, particularly among those looking for cover in the troubled medical malpractice line.

At the end of September 2007, there were 49 new captives licensed in the 2006-2007 fiscal year, for a total of 756 active captives in the Cayman Islands. Annual premium written was in excess of $7.4 billion, while reported assets were more than $32 billion, according to Ted Bravakis, director of public relations, Portfolio of Finance & Economics, for the Cayman Islands government.

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