The Cayman Islands Monetary Authority (CIMA) issued five new international insurance licences in the first quarter of 2025.
Between January and March, two Class B(i) and three Class B(iii) licences were granted, with six more approved in principle and nine applications under review.
According to CIMA, the data indicates ongoing interest in Cayman as an international insurance domicile and points to continued activity in the sector through the rest of the year.
The number of licensed Class B, C, and D insurance companies now stands at 701, with approximately US$41 billion in premiums written and US$153 billion in total assets.
Growth in Class B(iii) licences, which include reinsurers, reflects Cayman’s increasing role in the reinsurance market.
This development will be discussed at the Cayman International Reinsurance Companies Association (CIRCA) conference ReConnect, held at The Ritz-Carlton, Grand Cayman, from 10-11 April.
“It’s encouraging to see the number of licensees surpass 700 for the first time since 2018, following a period of Mergers and Acquisitions activity in the healthcare industry,” says Kieran Mehigan, chair of the Insurance Managers Association of Cayman (IMAC).
“Cayman’s international insurance industry remains vibrant and well-positioned for further growth, something we look forward to showcasing this week at ReConnect and again on 2-4 December at the Cayman Captive Forum.”
