Kieran Mehigan, Chair of the Insurance Managers Association of Cayman

George Town, Grand Cayman, July 15, 2025 – The Cayman Islands Monetary Authority (CIMA) has released its Q2 2025 licensing statistics, revealing the continued strength of the jurisdiction’s international insurance sector. Between April and June, CIMA issued 16 new international insurance licenses, comprising 9 Class B(i) captives, 6 Class B(iii) reinsurers, and 1 Class C insurer.

Combined with the 5 licenses granted in Q1, Cayman has recorded 21 new international insurer licenses in the first half of 2025. CIMA also confirmed that an additional 9 applications have been approved in principle, with a further 14 currently under review. This would bring the total new license count for 2025 to 44, exceeding the 42 new licenses issued in all of 2024; on track for a potential record-breaking 2025.

The addition of these licensees brings the total number of Class B, C, and D insurance companies domiciled in the Cayman Islands to 712, collectively writing approximately $41 billion in premiums and managing $152 billion in total assets. These figures do not include individual segregated portfolios, highlighting the broader scale of activity in the jurisdiction.

Kieran Mehigan, Chair of the Insurance Managers Association of Cayman (IMAC), said:

“The international commercial insurance, reinsurance, and captive sectors in Cayman continue to show strong and sustainable growth. We are particularly encouraged by the continued expansion of both single-parent and group captives, as well as the increasing number of new commercial reinsurers contributing to the jurisdiction’s momentum.”

IMAC invites anyone interested in learning more about the Cayman Islands captive insurance industry, to attend the upcoming Cayman Captive Forum taking place December 2-4, 2025 at The Ritz-Carlton, Grand Cayman. For more details and to register, visit imac.ky.

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About IMAC:

The Insurance Managers Association of Cayman (IMAC) represents the international insurance industry in the Cayman Islands. IMAC liaises with the government and the regulator on the industry’s behalf, and promotes innovation and international competitiveness to maintain Cayman’s advantageous market position. The Cayman Islands is one of the largest domicile in the world for captives and a dominant jurisdiction for healthcare captives, group captives, catastrophe bonds and international reinsurance

NOTE: Updated Jul 16 2025