Reinsurance News
Cayman Islands
Cayman Islands recognised as key international reinsurance jurisdiction: SOA
27th March 2026
The Cayman International Reinsurance Companies Association (CIRCA) has supported the findings of a new report by the Society of Actuaries (SOA), which underscores the Cayman Islands’ growing role as an international reinsurance jurisdiction supporting cross-border insurance markets. Faramarz Romer, Chairman of CIRCA, said, “This report provides independent confirmation that the Cayman ... Read the full article
AM Best confirms A- financial strength rating for GUNA Re
24th March 2026
Credit rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to GUNA Re (Cayman Islands), with the outlook for these ratings as stable. The ratings are underpinned by AM Best’s evaluation of GUNA Re’s robust balance sheet, adequate ... Read the full article
Cayman reinsurance assets surpass $100bn, says Cayman Finance
23rd February 2026
Cayman Finance, the representative body for the Cayman Islands’ financial services industry, has reported significant expansion in the jurisdiction’s reinsurance sector following publication of the 2025 Insurance Statistics by the Cayman Islands Monetary Authority (CIMA). Drawing on CIMA’s latest data, Cayman Finance states that the number of licensed reinsurance companies has ... Read the full article
IMAC reports continued strength in Cayman’s captive insurance sector for 2025
22nd January 2026
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 ... Read the full article
32 new international insurance licenses issued in Cayman so far in 2025: IMAC
22nd October 2025
Citing Q3 2025 licensing statistics from the Cayman Islands Monetary Authority (CIMA), the Insurance Managers Association of Cayman (IMAC) reported continued growth in the jurisdiction’s international insurance sector, with 32 new international insurance licenses issued so far in 2025. Between July and September 2025, CIMA reportedly issued eleven new international insurer ... Read the full article
Cayman’s strong regulation and tax neutrality makes it attractive for global capital: CIRCA’s Mitchell
10th April 2025
The Cayman Islands is poised to become an increasingly significant player in the global reinsurance market, according to Greg Mitchell, Chair of CIRCA (the Cayman International Reinsurance Companies Association). Speaking ahead of the ReConnect Conference in Cayman, Mitchell highlighted the jurisdiction's appeal to international capital seeking access to the ... Read the full article
Cayman Islands insurance sector generates CI$233m annually for economy
9th April 2025
The Cayman Islands international insurance sector contributes CI$233 million annually to the economy, according to a recent study by The Insurance Managers Association of Cayman (IMAC) and Cayman Finance. The report, conducted by FTS with input from the Cayman International Reinsurance Companies Association (CIRCA), quantifies the significant direct and indirect economic ... Read the full article
BDO Cayman strengthens audit team with Gordon Procter and Rahul Garg
20th January 2025
BDO in the Cayman Islands has announced the appointments of Gordon Procter as Audit Director and Rahul Garg as Audit Manager. The addition of these two audit professionals align with BDO’s strategic growth plans to strengthen its insurance and reinsurance capabilities across the Caribbean. Procter brings extensive experience in the Cayman re/insurance ... Read the full article
CIMA reveals strong growth in the Cayman Islands insurance sector
16th October 2024
Growth continues for the Cayman Islands insurance sector, according to the Cayman Islands Monetary Authority (CIMA) licensing statistics for the third quarter of 2024. During the period of July to September, CIMA granted five new international insurer licences, including three B(i) and two B(iii) licences, which marked sustained progress within the ... Read the full article
The Cayman Islands is an advantageous environment for tech-driven (re)insurance start-ups: Greenlight Re
7th October 2024
In a recent interview with Reinsurance News, Greg Richardson, Chief Executive Officer of Greenlight Re, stated that the Cayman Islands is an "advantageous environment," particularly for tech-driven (re)insurance start-ups. "Speaking from a P&C standpoint, Greenlight Re has a meaningful presence in Cayman as a P&C reinsurer. On a global scale, though, ... Read the full article
Rising US life reinsurance activity in Cayman Islands is credit negative: Moody’s
9th September 2024
US life insurers are increasingly turning to the Cayman Islands for reinsurance; however, Moody’s Ratings considers this trend a net credit negative for the sector due to heightened counterparty risk, reduced international recognition, and less transparent financial regulation. US life insurers strategically reinsure their business across various jurisdictions to optimise reserves, ... Read the full article
Cayman Islands’ re/insurance industry continues to thrive: CIMA
30th August 2024
The Cayman Islands Monetary Authority (CIMA) has released the licensing statistics for the insurance sector, granting 12 new international insurer licenses in the second quarter of 2024. CIMA issued three B(i)s, one B(ii), six B(iii)s plus a class C and a class D reinsurer. Additionally, two new insurance managers were also ... Read the full article
Oliver Wyman to collaborate with AKA Consulting in the Cayman Islands
14th August 2024
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced a collaboration agreement with AKA Consulting, an actuarial and risk consulting firm based in the Cayman Islands. Through this collaboration, Oliver Wyman aims to better serve its clients doing business in the Cayman Islands by combining ... Read the full article
CINICO launches new home insurance policy with Parametric Coverage
8th August 2024
The Cayman Islands National Insurance Company (CINICO) has announced it is now offering home insurance policy with Parametric Coverage. This parametric solution was created to pay out pre-agreed amounts automatically to cover incidental expenses, without the need to submit a claim in the event of a hurricane of a Category 3 ... Read the full article
Nascent Group expands to the Cayman Islands managed by Sergio Micucci
12th June 2024
Nascent Group, an insurance management and reinsurance transformer company, has received its insurance management licence to operate in the Cayman Islands, enabling it to offer ILS, reinsurance, and captive management services in this region. This strategic expansion allows Nascent to deliver innovative services while remaining flexible in choosing the best domiciles ... Read the full article
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