CCRIF SPC is a registered legal entity domiciled in the Cayman Islands, which operates as a risk pooling facility, owned by Caribbean and Central American governments. CCRIF SPC offers parametric insurance designed to limit the financial impact of catastrophic tropical cyclones, earthquakes and excess rainfall events on Caribbean and Central American governments, as well as water and electric utilities, by quickly providing short-term liquidity when a policy is triggered.
CCRIF is currently seeking expressions of interest (EOIs) from suitably qualified institutions with Captive Insurance experience to manage a portfolio under specific investment guidelines. The Asset Manager will be responsible for ensuring portfolio security and preservation of capital, adequate liquidity and adequate returns.
The aggregate portfolio under management will range from USD $30 - 200 million but will be managed through multiple Segregated Portfolios. Funding sources managed by the Asset Manager will include donor income and premiums paid to the Facility by participating members for parametric insurance against catastrophic events, monies received by the Facility as capital contribution, and any others assigned by the Board.
Interested firms must review CCRIF’s Annual Report including the Audited Financial Statements and provide an Expression of Interest (i) indicating that they are qualified to perform the services and (ii) an overview of your firm including
- A brief history of the company
- The number of permanent staff
- Names and profile of key person(s) to be designated to the portfolio
- Level of Professional Indemnity Cover held by your firm
- Financial Stability, with an indication being the total assets under management worldwide and in the Cayman Islands
- Alignment with CCRIF’s Investment Goals
- Track Record of Performance
- Experience of the Fund Manager
- Investment Philosophy
- Technology, data and digital capabilities
- Reputation and Rankings
Interested firms are required to declare any conflicts of interest.
Interested firms may obtain the full request for expressions of interest at https://www.ccrif.org/job-postings. For further information on CCRIF SPC, please visit the CCRIF web site at www.ccrif.org.
Expressions of interest must be submitted via email to:
procurement@ccrif.org
before 5pm Cayman Time on 7 August 2024. Email receipts will be issued for all submissions meeting the deadline.
All firms expressing interest will receive a response from CCRIF, via email, during the week ending 16 August 2024. Shortlisted firms will receive a request for proposals (RFP) at that time. Firms will be shortlisted based on relevant experience and technical competence.
