CIMA Licences Eight New Captive Insurers
The Cayman Islands Monetary Authority (CIMA) issued eight new Class B captive insurance licences in the third quarter of 2026, bringing the total number of new international insurance licences issued in the Cayman Islands so far in 2026 to 28.
Key Figures and Breakdown
The eight new licences break down as follows:
One B(i) licence: Typically issued to captive insurers where at least 95% of net premiums come from related-party (parent group) business.
Seven B(iii) licences: Typically issued to insurers where related-party business accounts for 50% or less of net premiums (i.e., the majority of business comes from third parties).
Three new portfolio insurance companies (PICs): These are separate legal entities operating within existing segregated portfolio company (SPC) structures. They are counted separately and are not included in the eight licences above.
Industry Size and Growth
With the issuance of the new licences, the Cayman Islands' international insurance sector has expanded further:
Total number of companies: Cayman is now home to 720 Class B, C and D insurers.
Premiums and assets: These companies represent approximately US$62 billion** in gross written premiums and **US$203 billion in total assets.
Year-to-date growth: Since the start of 2026, gross written premiums have increased by US$11 billion and total assets have grown by US$27 billion.
Official Comment and Outlook
James Trundle, Chairman of the Insurance Managers Association of Cayman (IMAC), said the Cayman international insurance sector continues to demonstrate resilience, stability and ongoing growth. The steady increase in new licences, together with the significant growth in premiums and total assets, reflects continued confidence in the jurisdiction on the part of international businesses. He noted that Cayman's mature regulatory framework, deep industry expertise and strong professional services infrastructure remain key attractions underpinning its position as one of the world's leading insurance domiciles.
In addition, CIMA currently has 11 applications under review, with several others having received approval in principle, including one new insurance manager.
source:chiancaptive.org
