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Captive Insurance Statistics Updated for Cayman Islands

Cayman Islands Beach Ocean
October 31, 2016

The Cayman Islands Monetary Authority (CIMA) has updated its captive entity domicile statistics as of September 30, 2016.

As detailed on the CIMA website, CIMA reported 10 new insurer licenses were issued in the third quarter of 2016. The total number of pure captives is 361, and the group captive count is currently 125. Approximately 20 percent of the total Class B, C, and D insurance companies in the Cayman Islands are segregated portfolio companies that have over 600 segregated portfolios.

Medical malpractice liability and workers compensation continue to be the largest lines of coverage reinsured by captives, the CIMA website also reports. Healthcare captives comprise about one-half of all captives in the jurisdiction. The CIMA report indicates about 34 percent of the captives provide medical malpractice coverage, and about 21 percent assume workers compensation risk.

CIMA provides a broad scope of captive statistics on its website. Summarized below is a breakdown of the number of self-managed captives and a listing of captive management firms managing 10 or more Cayman Islands captives.

The Cayman Islands are the location of only 6 self-management captive entities.  Captive managers with more than 10 captive entities domiciled in the Cayman Islands under management are as follows.

Insurance Manager

Number of Captives 

 Marsh Management Services Ltd.

112

 Aon Insurance Managers Ltd.

92

 Artex Risk Solutions Ltd.

89

 Strategic Risk Solutions Ltd.

87

 Global Captive Management Ltd. 

70

 USA Risk Group, Ltd. 

62

 Willis Management, Ltd.  

47

 Kensington Management Group, Ltd. 

35

 Captiva Managers Ltd.

15

 Atlas Insurance Management Ltd.

13

 Advantage International Management Ltd.

12

 Chandler Insurance Management, Ltd. 

12

 

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