Onwards & upwards: Cayman continues to grow

The Insurance Managers Association of Cayman (IMAC) has reported continued growth in the jurisdiction’s international insurance sector, following the release of the Q3 2025 licensing statistics by the Cayman Islands Monetary Authority (CIMA).

Between July and September 2025, CIMA issued eleven new international insurer licenses, comprising of five Class B(i)s and six Class B(iii)s.

Adding to the 21 new licensees approved in the first half of this year, a total of 32 new international insurance licenses have been issued to date in 2025. CIMA also advised that 19 additional applications are currently under review, while a further 5 have been approved in principle. As 2024 closed with 42 new licensees, these figures point to another strong year of growth for the Cayman Islands, as one of the world’s leading insurance domiciles.

With the inclusion of the most recent licensees, there are now 719 Class B, C, and D insurance companies licensed in Cayman, representing approximately $51 billion in premiums written, and $173 billion in total assets. These figures do not include individual segregated portfolios, indicating an even broader scale of activity in the jurisdiction.

Kieran Mehigan, Chair of the Insurance Managers Association of Cayman (IMAC), commented, “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. We remain optimistic that this momentum will continue through the remainder of the year.”

IMAC encourages those interested in learning more about the Cayman Islands captive insurance industry to attend the Cayman Captive Forum at the Ritz-Carlton, Grand Cayman, from December 2-4, 2025. Further information is available at www.imac.ky/captive-forum.  

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