The Cayman Islands Monetary Authority (CIMA) has released its first quarter 2025 licensing statistics, revealing the issuance of five new international insurer licenses between January and March: two Class B(i) and three Class B(iii) licenses, with six additional licenses approved in principle and nine further applications currently under review.
These figures reflect continued interest in the Cayman Islands as a leading international insurance domicile and signal positive momentum for the remainder of 2025, the Insurance Managers Association of Cayman (IMAC) said in a press release.
With the addition of these new licensees, the number of Class B, C, and D insurance companies licensed in the Cayman Islands has reached a total of 701, with approximately $41 billion in premiums written and $153 billion in total assets.
Class B(iii) licenses, which include reinsurers, continue to show notable growth, underscoring Cayman’s increasing appeal as a reinsurance hub. This trend is expected to continue and will be a key focus at the second annual CIRCA conference, ReConnect, taking place at The Ritz-Carlton, Grand Cayman, from 10 to 11 April 2025.
“It’s encouraging to see the number of licensees 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, IMAC chair.
The Insurance Managers Association of Cayman (IMAC) represents the international insurance industry in the Cayman Islands. IMAC liaises with government and the regulator on the industry’s behalf and promotes innovation and international competitiveness to maintain Cayman’s advantageous market position. The Cayman Islands is one of the largest domicile in the world for captives and a dominant jurisdiction for healthcare captives, group captives, catastrophe bonds and international reinsurance.
