The Cayman Islands Ministry of Financial Services and Commerce confirms the jurisdiction has submitted its application to the National Association of Insurance Commissioners (NAIC) for qualified jurisdiction status (QJS). Approval would add the Cayman Islands to an NAIC list of seven jurisdictions that has not changed since it was established in 2015, comprising Bermuda, France, Germany, Ireland, Japan, Switzerland and the United Kingdom. The confirmation comes as a Cayman Islands delegation travels to the NAIC 2026 Summer National Meeting in Columbus, Ohio, which runs from 11 to 14 August. André Ebanks, premier and minister for financial services and commerce, leads the delegation and plans to discuss the application further during the meeting. Ebanks told the Cayman International Reinsurance Companies Association ReConnect conference in April that the application would be submitted by the end of the second quarter of 2026, the first time a timeframe had been set publicly. The ministry does not give a submission date. Qualified jurisdiction status is a prerequisite for reinsurers domiciled outside the US to be certified by individual states as certified reinsurers, a designation that reduces the collateral required against business ceded by US insurers. Qualified jurisdictions that meet further conditions under the NAIC credit for reinsurance models can also be recognised as reciprocal jurisdictions, under which collateral and local presence requirements are removed for reinsurers meeting minimum capital and financial strength requirements. The NAIC meeting gathers federal and state regulators alongside international attendees to discuss matters affecting the American insurance sector, including annuity structures, property and casualty coverage developments, and market regulation. Ebanks is accompanied by parliamentary secretary Julie Hunter, who is taking on various responsibilities in financial services and commerce, senior policy advisor Razaak Busari of the Ministry of Financial Services and Commerce, Cabinet Office international affairs analyst Sean Whewell, and representatives from the Cayman Islands Monetary Authority (CIMA). The ministry says the visit forms part of ongoing government efforts to enhance relationships with US insurance regulators and other stakeholders, support effective international regulatory cooperation, and reinforce confidence in the Cayman Islands as a well-regulated international insurance and reinsurance jurisdiction. For the period of 10 to 14 August, Nickolas DaCosta serves as acting premier, Michael Myles as acting deputy premier and Wayne Panton as acting minister for financial services and commerce.
