The Cayman Islands’ international insurance sector continues to expand, with the jurisdiction issuing eleven new international insurer licenses in the third quarter of 2025, the Insurance Managers Association of Cayman (IMAC) reports. The new licenses, issued by the Cayman Islands Monetary Authority (CIMA) between July and September 2025, comprise five Class B(i)s and six Class B(iii)s. This brings the total number of new international insurance licenses issued in 2025 to 32 so far, adding to the 21 approved in the first half of the year. The Cayman Islands, a leading global insurance domicile, is set for another strong year of growth, as 42 new licensees were approved in 2024. CIMA also currently has 19 additional applications under review, with a further five having already been approved in principle. The inclusion of the most recent licensees means the Cayman Islands now has 719 Class B, C, and D insurance companies licensed. These companies collectively represent approximately US$51 billion in premiums written and US$173 billion in total assets. These figures exclude individual segregated portfolios. Kieran Mehigan, Chair of IMAC, says the increase reflects continued confidence in the jurisdiction: “Cayman’s international insurance industry continues to show remarkable stability and growth. The consistent increase in new licensees reflects continued confidence in the jurisdiction’s regulatory framework, service excellence, and the stability that Cayman offers as a leading global insurance domicile”. IMAC represents the international insurance industry in the Cayman Islands. The jurisdiction is one of the largest domiciles in the world for captives and a dominant jurisdiction for healthcare captives, group captives, catastrophe bonds, and international reinsurance. The organisation encourages those interested in learning more about the industry to attend the Cayman Captive Forum from 2–4 December 2025.
