Preheat oven to 170°C on fan forced cooking function
For the caramel, place the sugar and water in a saucepan on low heat. When the sugar has melted increase the heat to high for another 4-5 minutes until it turns golden
Remove from heat immediately and divide the mixture into 8 ramekins (8cm diameter). Set aside
Slit vanilla pod in the middle and add to a saucepan with cream and milk. Bring to a simmer for 5 minutes
In a mixing bowl, whisk the rest of the sugar with eggs until light and creamy. Pour the cream mixture into the cream/milk - continually whisking
Pour the egg mixture into the ramekins
Transfer the ramekins to a baking dish. Fill the baking dish with boiling water until half full
Place in the middle of the oven and bake for 30 minutes
When ready, remove the ramekins from the water and set aside to cool before placing in the fridge to chill overnight