Kieran Mehigan, chair, IMAC
The Cayman Islands’ international insurance industry continued to expand in the third quarter, with 11 new insurer licences issued between July and September, according to data from the Cayman Islands Monetary Authority (CIMA) released by the Insurance Managers Association of Cayman (IMAC).
The new approvals include five Class B(i) and six Class B(iii) licences, bringing the total to 32 new insurers licensed so far in 2025. CIMA said another 19 applications are under review, with five more approved in principle. The sector ended 2024 with 42 new licences, indicating another strong year for Cayman’s role as a global insurance domicile.
Including the latest additions, there are now 719 Class B, C, and D companies operating in the jurisdiction, representing roughly US$51 billion in premiums written and US$173 billion in total assets, IMAC said. Those totals exclude segregated portfolios, which add further scale to the market.
IMAC Chair Kieran Mehigan said the steady pace of new licences demonstrates continued confidence in Cayman’s regulatory stability and service quality. “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,” Mehigan said in a press release.
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.
