In 2016, despite the addition of 39 new captive insurers in the Cayman Islands, the number of pure captive insurers for the year still declined.

        As of December 31, 2016, there were 334 pure captive insurers registered in the Cayman Islands, down 35 from 369 at the end of 2015. Group captive insurers fell from 124 in the prior year to 121; 24 special purpose vehicles (SPVs) were registered, 4 fewer than the previous year. However, the number of segregated portfolio companies (SPCs) increased by 7 from the prior year to 147. The total number of captive insurers decreased from 661 in the prior year to 626. The number of cell captive insurers stood at 599, down 4 from the previous year.

        As of 2016, the 334 pure captive insurers mentioned above underwrote US$4.2 billion in premiums and held total assets of US$17.2 billion. The 121 group captive insurers recorded premium income of US$2.2 billion and total assets of US$6.6 billion. All segregated portfolio companies together underwrote US$1.4 billion in premiums, with total assets of US$7.2 billion.

        Among the newly established group captive insurers is the Command captive, established by Artex together with 10 new segregated portfolio companies. One of the newly established SPCs is Alesia Reinsurance Company, a life insurer focused on U.S. annuity risk transfer; other newly established SPCs include SJS, a cell captive managed by USA Risk Group, and a Marsh-managed segregated portfolio company dedicated to facilitating global insurance.

      On January 8, 2016, the Wisconsin Dental Association Insurance and Services Corporation established a group captive insurer, managed by Strategic Risk Solutions. On June 30, the Mutual Family Association of Florida established CBC Accident and Health Insurance Company, a pure captive insurer managed by Artex.

       As of 2016, premium volume in the Cayman Islands reached US$14.6 billion, with total assets of US$59.8 billion. The chart below shows the number of Class "B", "C" and "D" insurance companies at the end of 2016.

        More than half of the world's healthcare industry captive insurers are based in the Cayman Islands; 33% of the island's insurance companies write medical malpractice insurance and 21% write employee benefits insurance, placing it in a leading position in the international healthcare captive sector.

        Business in the Cayman Islands is highly international, with 90% of its international business originating from the United States.

Source: Cayman Islands Monetary Authority