The Cayman Islands’ international insurance sector recorded an increase in new licences in the first quarter of 2026, with 14 insurers approved between January and March, according to industry data.
Figures released by the Cayman Islands Monetary Authority and reported by the Insurance Managers Association of Cayman show a rise from five licences issued in the same period last year, indicating continued growth in the jurisdiction’s insurance market.
The new licences include six Class B(i) insurers, seven Class B(iii) insurers and one Class C, along with four portfolio insurance companies. Cayman now has 722 Class B, C and D insurers, collectively writing about $51 billion in premiums and holding an estimated $176 billion in assets.
Growth in the Class B(iii) segment, which includes reinsurers, remains a key driver, with the jurisdiction continuing to attract new reinsurance business. The Insurance Managers Association of Cayman said this trend is expected to continue through 2026.
James Trundle, chair of the association, said the increase in new licensees reflects strong industry momentum and cited ongoing efforts to enhance Cayman’s appeal to international insurers and reinsurers.
“It is encouraging to see the increase in new licensees during the first quarter of 2026. Cayman remains well positioned, supported by a vibrant international insurance industry, demonstrated at the recent ReConnect conference that attracted over 675 attendees.”
He noted plans by the Cayman Islands government to seek “qualified jurisdiction” status with US regulators, indicating an equivalent supervisory regime, with an application expected before the end of the second quarter.
“During Reconnect, the Cayman Islands Premier announced the jurisdiction’s intention to pursue qualified jurisdiction status, with an application expected before the end of Q2 2026. This is a positive step that could further support growth in new licences by enhancing Cayman’s attractiveness to international insurers and reinsurers – particularly those seeking efficient access to key markets,” Trundle said.
Industry events are also expected to support engagement, including the Cayman Captive Forum scheduled for Dec. 1–3.
