The Cayman Islands licensed 13 new captive insurance companies in the first quarter of 2019.
Statistics from the Cayman Islands Monetary Authority revealed that five new class B(i) insurers, six new class B(ii) insurers, and two new class C insurers were licensed between 1 January 2019 and 31 March 2019.
Six of the new captives are managed by Artex, three are managed by Kensington, while Aon, Marsh, and Lainston all manage one of the new captives.
Additionally, there were four new portfolio insurance companies and one new insurance agent formed in the first quarter of 2019.
The Q1 formations follow on from steady growth in 2018, when 33 new captive insurance companies were licensed, equalling the same number of new formations as 2017.
