The Cayman Islands has reaffirmed its leadership position in the captive insurance industry, ranking as the top offshore domicile and second overall globally, in Business Insurance’s newly released Captive Domicile Rankings for year-end 2024.
According to the report, Cayman maintains the largest number of licensed captives among all offshore jurisdictions, trailing only Vermont in total number of captives worldwide.
“This recognition reflects decades of hard work, collaboration, and a deep commitment to excellence across Cayman’s insurance community,” said Kieran Mehigan, Chair of the Insurance Managers Association of Cayman (IMAC), in a press release. “Cayman continues to distinguish itself as a leading jurisdiction for captives by offering innovative solutions, robust but business-friendly regulation, and unparalleled industry expertise.”
Captive insurance companies play a critical role in helping businesses manage complex and evolving risks. Cayman’s mature and diverse marketplace supports a broad range of captive structures, from healthcare and reinsurance to group and employee benefit captives.
“With a solid foundation and a forward-looking approach, Cayman is well positioned to meet the future needs of captive owners around the world,” Mehigan said.
IMAC will continue to actively promote Cayman’s strengths globally, ensuring that the jurisdiction remains the premier offshore choice for captive insurance.
