Cayman Islands

Over the last four decades the Cayman Islands has matured into one of the world’s largest international financial centres and a leading captive and (re)insurance domicile known for its appropriate, effective and efficient supervision in accordance with relevant international standards.

[Last updated: 21/07/16]  
Regulatory contact:
Cayman Islands Monetary Authority
Address of regulator:
P.O. Box 10052
80 Shedden Road
Elizabethan Square
Grand Cayman KY1-1001
Telephone Number: 1 345 949 7089
Email Address:

Name of Captive Legislation
The main law is Insurance Law, 2010

Year Legislation Passed 
Gazetted on 11 October 2010

Recent Amendments
Two subsequent amendments were gazetted on 17 September 2012 and 6 May 2013

Do you allow Cell Captives?  
Yes. The Law allows two versions of cell captives namely, Segregated Portfolio Companies (“SPCs”) with Segregated Portfolios (“SPs”) and/or Portfolio Insurance Companies (“PICs”)

Total Number of Licenced Captives 
As of 30 June 2016:
Standalone Captives: 709 (includes commercial (re)insurers)
SPs and PICs: 614

Number of Risk Retention Groups or Group Captives
As of 30 June 2016: 128

Number of Single Parent Captives
As of 30 June 2016: 360

Number of Cell Captives
As of 30 June 2016: 145

Number of licences granted in the past year (2015 calendar year)

Approximate (or Average) length of time to process a new captive
4-6 weeks

Captive tax rates
Captives are exempted from taxes in Cayman

Minimum capitalisation rate
Refer Schedule 1-PRESCRIBED CAPITAL REQUIREMENT AND MINIMUM CAPITAL REQUIREMENT of The Insurance (Capital and Solvency) (Classes B, C and D Insurers) Regulations, 2012, which is available on CIMA’s website for details

Licencing fees

Licence Category/sub-category

Annual licence fee (KYD)

Class ‘B(i)’


Class ‘B(ii)’


Class ‘B(iii)’


Class ‘C’


Class ‘D’


Industry sectors best represented in the domicile 
Healthcare, manufacturing

Top uses for Captives in domicile
Based on primary line of business (As of 30 June 2016):
Medical malpractice liability: 237
Workers’ compensation: 151
General liability: 78
Property: 70
Professional liability: 61

Total premiums received by the Captives:  
US$13 billion in 2015

Total value of assets under management:  
US$59 billion as of 31 December 2015

Captive Insurance Managers registered to conduct business in domicile
33 Insurance Managers as of 30 June 2016. Number of captives under management can be found on CIMA’s website: à Home Page à Statistics & Regulated Entities à Insurance Statistics