Consilium opens Cayman workplace | Insurance coverage Enterprise America

Re/insurance coverage dealer Consilium has introduced the institution of a brand new workplace within the Cayman Islands.

To spearhead the enlargement, the corporate has appointed Yaremis Hydes (pictured above), a seasoned insurance coverage skilled with over 17 years of expertise, as managing companion.

Hydes, a local Caymanian, will be a part of Consilium after finishing her tenure at Aon, the place she has served as a director of its Cayman operations for seven years. Her experience lies in property & casualty and worker advantages.

The brand new workplace in Cayman represents a strategic transfer for Consilium, providing direct entry to each the native insurance coverage market and extra capability by means of connections to the London and European insurance coverage markets.

For this new location, the dealer goals to concentrate on sectors corresponding to monetary {and professional} strains, development, residential strata, business property, group medical, and ancillary advantages within the area.

Consilium, which obtained its Cayman license in July 2023, plans to increase the workplace to a group of 5 by the tip of 2024. The corporate intends to recruit additional as wanted to keep up what it considers industry-leading buyer expertise and repair.

James Baird, joint CEO of Consilium, commented on the importance of the Cayman workplace, highlighting the area’s thriving financial system and its standing as a classy marketplace for monetary {and professional} providers.

“The insurance coverage {industry} in Cayman has and is historically a captive administration market dominated by the large world brokers and some different specialists targeted on this sector,” Baird stated. “In more moderen occasions we’ve seen consolidation of the restricted variety of insurance coverage broking companies which means there’s much less alternative for the consumer base. This presents a major alternative and makes Cayman an excellent jurisdiction for Consilium to place boots on the bottom. We’re bringing the London and European insurance coverage market nearer to Cayman shoppers alongside the insurers within the area, in a strategic and collaborative method beneath the Consilium model.”

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