The Insurance Managers Association of Cayman (IMAC), the representative body for Cayman’s captive insurance and reinsurance sector, has released an update pointing to continued expansion in the jurisdiction, following the Cayman Islands Monetary Authority’s (CIMA) fourth-quarter 2025 licensing figures.
IMAC has reported that Cayman’s captive insurance industry maintained a strong upward trajectory throughout 2025, underpinned by consistent licensing activity across multiple classes.
Data published by CIMA shows that 10 new international insurer licenses were approved in the final quarter of the year. These consisted of three Class B(i) licenses, four Class B(iii) licenses, one Class C license, and two Class D licenses.
With these additions, the total number of international insurer licenses issued during 2025 reached 42, marking the second consecutive year at this level and reinforcing a sustained high point in annual licensing over the last ten years.
At the close of 2025, the Cayman Islands hosted 720 insurance companies operating under Class B, C, and D. Together, these entities generated approximately USD 51 billion in gross written premiums and reported total assets of USD 176 billion. Compared with the prior year, this reflects growth of 24% in premiums and 15% in assets.
IMAC indicated that the steady inflow of new licenses during 2025 signals ongoing confidence in Cayman as a domicile, with expectations that this positive trend will continue into 2026.
IMAC Chair James Trundle commented: “Cayman’s continued growth reflects the jurisdiction’s robust regulatory framework, business friendly environment and depth of professional expertise. The collaborative and pragmatic approach taken by CIMA has been instrumental in supporting this momentum, and we are grateful for their ongoing engagement and responsiveness within the industry.”
Further analysis of 2025 activity shows that traditional single-parent captives licensed as Class B(i), representing a diverse range of sectors, accounted for 19 new formations. Third-party writers licensed under Class B(iii) also recorded 19 new licenses, including a number of reinsurance-focused vehicles.
In addition, two Class C licenses were issued for fully collateralised structures, while two Class D licenses were granted to open-market reinsurers. IMAC expects the level of interest in reinsurance-related entities to remain strong through 2026.
