The Cayman Insurance Managers Association (IMAC), the representative body for Cayman’s captive insurance and reinsurance industry, has issued an update following the release of fourth quarter 2025 licensing data from the Cayman Islands Monetary Authority (CIMA), stating that business in the jurisdiction will continue to expand.
IMAC reports that the Cayman captive insurance industry remains on a strong upward trajectory in 2025, supported by continued licensing activity across multiple categories.
Figures released by CIMA show that 10 new international insurance company licenses were approved in the last quarter of this year. These include three Class B(i) licenses, four Class B(iii) licenses, one Class C license and two Class D licenses.
Together with these additional licenses, the total number of international insurance company licenses issued in 2025 reaches 42, maintaining this level for the second consecutive year and consolidating a sustained high in annual licenses over the past decade.
As of the end of 2025, the Cayman Islands has 720 Class B, C and D insurance companies. These entities have aggregate written premiums of approximately $51 billion and total assets of $176 billion. Compared with the previous year, premiums increased by 24% and assets increased by 15%.
IMAC said the steady inflow of new licenses in 2025 demonstrates continued confidence in the Cayman Islands as a domicile, with this positive trend expected to continue into 2026.
James Trundle, Chairman of IMAC, commented: “Cayman’s continued growth reflects the jurisdiction’s strong regulatory framework, friendly business environment and deep expertise. The collaborative and pragmatic approach taken by CIMA has been instrumental in supporting this momentum and we thank them for their continued engagement and responsiveness within the industry.”
Further analysis of activity in 2025 shows that traditional solo insurance companies licensed as B(i) represent a diverse range of industries, with 19 new companies being formed. There were also 19 new licenses granted to third-party underwriters licensed under Category B(iii), including a number of reinsurance-focused vehicles.
In addition, two Class C licenses were issued to fully collateralized structures and two Class D licenses were issued to open market reinsurers. IMAC expects interest in reinsurance-related entities to remain strong through 2026.