Cayman welcomes four new captives in Q3
The Cayman Islands licensed four new captive insurance companies and one portfolio insurance company in Q3 2018, according to statistics from the Cayman Islands Monetary Authority (CIMA).
The number of formations is down in comparison to the same period last year when Cayman welcomed seven new class B formations.
It is also down in comparison to Q2 of this year when 14 new captive licenses were issued.
The statistics, which are updated as at 30 September, also showed that of the four new captive formations in the third quarter of this year, one was a class B(i) insurer and three were class B(iii) insurers.
In 2017, 33 captive licenses were issued in total, a reduction on the 39 issued the year before.
