Cayman International Insurance Sector Adds 8 Licenses in Q3

The Cayman Islands' international insurance sector continued to expand in the third quarter of 2026, with eight new insurer licenses issued and increases in premiums written and total assets, according to licensing statistics released by the Cayman Islands Monetary Authority (CIMA).

Between July and September, CIMA issued one Class B(i) and seven Class B(iii) licenses, including three new portfolio insurance companies (PICs).

Under Cayman's insurance regulatory framework, Class B(i) licenses are generally issued to insurers that derive at least 95 percent of their net premiums from related-party business. Class B(iii) licenses apply to insurers that derive 50 percent or less of their net premiums from related-party business. PICs are separately incorporated entities that operate within a segregated portfolio company structure.

The latest approvals bring the total number of new international insurer licenses issued in 2026 to 28, following 20 approvals during the first half of the year. CIMA reported that 11 additional applications are under review, while several others have received approval in principle, including an application for a new insurance manager.

The Cayman Islands now has 720 Class B, C, and D insurance companies, representing approximately $62 billion in premiums written and $203 billion in total assets. Class B licenses cover captive and other international insurance operations, Class C licenses apply to special purpose insurers, and Class D licenses are designated for reinsurers.

Since the beginning of 2026, premiums written have increased by $11 billion, while total assets have grown by $27 billion.

"Cayman's international insurance industry continues to demonstrate resilience, stability and sustained growth. The steady increase in new licensees, alongside significant growth in premiums written and total assets, reflects the continued confidence that international businesses place in our jurisdiction," said James Trundle, chair of the Insurance Managers Association of Cayman (IMAC).

"Cayman's established regulatory framework, depth of industry expertise and strong professional services infrastructure remain key factors in its appeal as one of the world's leading insurance domiciles. With a healthy pipeline of applications and continued interest from international markets, we are optimistic about the industry's outlook for the remainder of 2026," Mr. Trundle said.

IMAC is also preparing to host the Cayman Captive Forum, scheduled for December 1–3, 2026, at the Ritz-Carlton Grand Cayman. The association describes the event as the world's largest captive insurance forum.

With registration nearing capacity, IMAC is encouraging prospective attendees to register soon. The conference agenda and registration information are available on the Cayman Captive Forum website.