Cayman Islands hit new licence milestone

The Cayman Islands Monetary Authority (CIMA) has released its Q1 2025 licencing statistics, revealing the issuance of five new international insurer licences between January and March, taking the total number of Class B, C, and D insurance companies licenced in the Cayman Islands to 701.

CIMA said it had issued two Class B(i) and three Class B(iii) licences, with six additional licences approved in principle and nine further applications currently under review. 

The new licensees take the Cayman Islands, as an insurance domicile, to approximately $41bn in premiums written and $153bn in total assets. CIMA said that these figures reflect continued interest in the Cayman Islands as a leading international insurance domicile and signal positive momentum for the remainder of 2025.

Class B(iii) licences, which include reinsurers, continue to show notable growth, CIMA added, saying that this underscores Cayman’s increasing appeal as a reinsurance hub and that this trend is expected to continue. Establishing a captive in Cayman requires a B or C licence.

“It’s encouraging to see the number of licencees surpass 700 for the first time since 2018, following a period of mergers and acquisitions activity in the healthcare industry. 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 December 2nd-4th at the Cayman Captive Forum,” said Kieran Mehigan, chair of the Insurance Managers Association of Cayman.

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