Cayman Islands Monetary Authority issued 21 new international insurance licences in H1’25

The Cayman Islands Monetary Authority (CIMA) granted a total of 21 new international insurer licenses in the first half of 2025, as commercial insurance, reinsurance, and captive sectors continue to expand in the region.

This was reported in the recently published Q2 2025 licensing statistics by the CIMA.

The total number includes 16 new international insurance licenses granted between April and June, combined with the five licenses granted in the first quarter of 2025.

Of the 16, the CIMA issued nine Class B(i) captives, six Class B(iii) reinsurers, and one Class C insurer.

Additionally, it was confirmed by the CIMA that an additional nine applications have been approved in principle, with 14 currently under review.

This would bring the total new license count for 2025 to 34, approaching the 41 new licenses issued in all of 2024; on track for a potential record-breaking year.

The addition of these licensees brings the total number of Class B, C, and D insurance companies domiciled in the Cayman Islands to 712, collectively writing approximately $41 billion in premiums and managing $152 billion in total assets.

It should be noted that these figures do not include individual segregated portfolios, highlighting the broader scale of activity in the jurisdiction.

Kieran Mehigan, Chair of the Insurance Managers Association of Cayman (IMAC), commented, “The international commercial insurance, reinsurance, and captive sectors in Cayman continue to show strong and sustainable growth.

“We are particularly encouraged by the continued expansion of both single-parent and group captives, as well as the increasing number of new commercial reinsurers contributing to the jurisdiction’s momentum.”

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