Cayman’s financial services industry is the backbone of our economy. As a recognised international financial centre, it fuels economic activity, strengthens government revenue, and creates opportunities for Caymanians and businesses across the Caribbean. More than simply facilitating financial transactions, this industry makes a real impact on jobs, infrastructure, and a future built on stability and growth.
Contributing to the Cayman Islands’ economy
As one of the seven thriving sectors within financial services, insurance plays a critical role in shaping Cayman’s economic landscape. With millions in premiums written annually and substantial assets under management, the sector strengthens government revenue, supports the private sector, and generates job opportunities for Caymanians. Business travel tied to the insurance sector also brings significant tourism expenditures, benefiting local hotels, restaurants, and transportation services.
Brittany MacVicar, Associate Director of Business Development at Cayman Finance, is dedicated to advancing the insurance, reinsurance, banking, and trust sectors. With a background spanning Big 4 firms and multiple jurisdictions, she brings a wealth of experience in financial processes, risk management, and regulatory compliance. Beyond her professional expertise, Brittany is actively involved in community initiatives, ensuring that the industry’s growth benefits the wider Caymanian society.
Financial services fuel economic activity
Financial services drive economic growth across the Cayman Islands. Investment funds, hedge funds, captive insurance, reinsurance, and capital markets form the foundation of our international financial centre, attracting investors and facilitating global commerce. Cayman’s fund administrators, legal service providers, and financial institutions ensure seamless financial transactions while maintaining adherence to international standards, reinforcing the jurisdiction’s position as a trusted domicile for investment funds, mutual funds, and insurance companies.
Cayman Finance works closely with the Cayman Islands Government and regulatory bodies like the Cayman Islands Monetary Authority (CIMA) to uphold a strong regulatory framework that sustains industry success. Compliance with the Organisation for Economic Co-operation and Development (OECD) guidelines and global anti-money laundering regulations ensures that Cayman continues to be a world-class financial hub.
“Financial services don’t just benefit finance professionals; they impact every Caymanian,” Brittany explains. “From job creation to infrastructure investments, our industry fuels economic stability, supporting businesses and families across the islands.”
Strengthening Cayman’s workforce and private sector
Beyond its direct financial contributions, the industry serves as a key employer within Grand Cayman. A significant portion of Cayman’s labour force is employed across law firms, trust companies, insurance management firms, and fund administration. The legal sector also plays a crucial role, offering expertise in regulatory compliance, structuring investment vehicles, and advising on international transactions.
Additionally, professionals visiting the Cayman Islands for meetings, international conferences, and regulatory discussions contribute to tourism expenditures, driving revenue for hotels, restaurants, and transportation services. This indirect economic impact strengthens the broader private sector, ensuring that local businesses thrive.
Government revenue and public services
A thriving financial services industry means stronger public services and infrastructure for Caymanians. The Cayman Islands Government benefits from substantial financial industry contributions, with fees, duties, and work permits generating revenue that funds essential services like healthcare, education, and public infrastructure.
As an overseas territory of the United Kingdom, the Cayman Islands maintains a tax-neutral model that attracts global investors while ensuring that local expenditures continue to support long-term economic stability. With a high level of regulatory oversight and adherence to international standards, Cayman remains a top jurisdiction for global financial services.
Through strategic partnerships with industry stakeholders and regulatory bodies, Cayman Finance plays a vital role in ensuring the financial sector continues to evolve and grow. Brittany highlights that many young professionals entering the industry for the first time benefit from these advancements, as they provide a strong foundation for career development and long-term sustainability.
Initiatives driving future growth
Cayman Finance remains committed to fostering economic growth through talent development, regulatory advancements, and industry-led initiatives. Professional training programs, financial education, and digital transformation efforts ensure that Caymanians have access to rewarding careers within the financial services sector.
Emerging areas like FinTech and virtual assets are shaping the future of the industry, aligning the Cayman Islands with global technological advancements. These innovations, coupled with regulatory enhancements, continue to attract insurance companies, fund managers, and financial service providers to the jurisdiction, solidifying our standing as a premier international financial centre.
A vision for Cayman’s economic future
As Cayman Finance continues its mission, professionals like Brittany MacVicar are working to ensure that Cayman’s financial services industry benefits all Caymanians. By highlighting the industry’s contributions and dispelling misconceptions, they play a crucial role in securing Cayman’s reputation as a global financial hub.
“Every business, every road we drive on, every opportunity—it all connects back to the financial services industry,” Brittany says. “We are not just supporting finance professionals; we are building a stronger future for Cayman.”
Cayman’s financial services industry is more than a global leader—it’s the driving force behind the Cayman Islands’ economic stability. From job creation to business growth, its impact is unmistakable. Cayman Finance remains committed to ensuring this industry continues to evolve, fostering opportunity, strengthening the economy, and securing a prosperous future for generations to come.
Watch Brittany’s video to learn more:
