Cayman eyes record year with 21 new insurance licenses in H1 2025

The Cayman Islands Monetary Authority (CIMA) has released its Q2 2025 licensing statistics, revealing the continued strength of the jurisdiction’s international insurance sector. Between April and June, CIMA issued 16 new international insurance licenses, comprising 9 Class B(i) captives, 6 Class B(iii) reinsurers, and 1 Class C insurer.

Combined with the 5 licenses granted in Q1, Cayman has recorded 21 new international insurer licenses in the first half of 2025. CIMA also confirmed that an additional 9 applications have been approved in principle, with a further 14 currently under review. This would bring the total new license count for 2025 to 34, approaching the 41 new licenses issued in all of 2024; on track for a potential record-breaking 2025, CIMA claimed.

The addition of these licensees brings the total number of Class B, C, and D insurance companies domiciled in the Cayman Islands to 712, collectively writing approximately $41 billion in premiums and managing $152 billion in total assets. These figures do not include individual segregated portfolios, highlighting the broader scale of activity in the jurisdiction.

Kieran Mehigan, chair of the Insurance Managers Association of Cayman (IMAC), said: “The international commercial insurance, reinsurance, and captive sectors in Cayman continue to show strong and sustainable growth. We are particularly encouraged by the continued expansion of both single-parent and group captives, as well as the increasing number of new commercial reinsurers contributing to the jurisdiction’s momentum.”

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