From left, Premier and Minister for Financial Services and Commerce, André Ebanks; National Association of Insurance Commissioners (NAIC) President Scott White; and NAIC CEO Jeffrey Johnston during the NAIC 2026 Summer National Meeting in Columbus, Ohio.
Premier and Minister for Financial Services and Commerce André Ebanks led a Cayman delegation to the National Association of Insurance Commissioners’ 2026 Summer National Meeting in Columbus, Ohio, where officials met with state regulators and international stakeholders. Discussions included cross-border oversight and Cayman’s application for Qualified Jurisdiction Status.
The US regulatory designation is granted to jurisdictions whose reinsurance supervisory systems meet NAIC standards. If approved, it could allow qualifying Cayman reinsurers to benefit from reduced collateral requirements in the United States, subject to regulatory conditions.
Cayman has submitted the application in phases, beginning with property and casualty insurance. A second phase will cover life and annuity insurance. The government said the assessment process is expected to take about 16 to 18 months.
“At its core, this application is about reinforcing confidence and demonstrating that the Cayman Islands is a country that commissioners can rely on,” Ebanks said.
The government said the application comes as Cayman’s commercial reinsurance industry expands and as the Cayman Islands Monetary Authority develops its regulatory framework and specialist capabilities for overseeing the sector. Much of the jurisdiction’s insurance and reinsurance business is connected to the US market. Effective cross-border oversight and continued regulatory cooperation, therefore remain important to both jurisdictions, the Ministry of Financial Services said in a press release.
“We are focused on ensuring that Cayman’s reinsurance industry continues to develop within a strong and credible regulatory environment,” Premier Ebanks said. “A well-regulated reinsurance sector complements our existing, sterling financial services strengths, supports economic growth and, in turn, creates new career opportunities for young Caymanians. Pursuing Qualified Jurisdiction Status will help Cayman continue to mature in this area while demonstrating our commitment to high supervisory standards.”
Accompanying the premier in Ohio were Parliamentary Secretary Julie Hunter, the Ministry’s Senior Policy Advisor Razaak Busari, Cabinet Office International Affairs Analyst Sean Whewell and representatives from the Cayman Islands Monetary Authority. Members of the Cayman International Reinsurance Companies Association were also in attendance.
