Cayman Islands

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

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