The Cayman Islands' international insurance sector has reported continued growth in the first quarter of 2026, with regulators issuing significantly more licenses compared to the same period last year.
The Insurance Managers Association of Cayman (IMAC) announced that the Cayman Islands Monetary Authority (CIMA) issued 14 new international insurer licenses between January and March 2026, comprising six Class B(i)s, seven Class B(iii)s, and one Class C. In addition, 4 Portfolio Insurance Companies (PICs) were approved.
This marks a substantial increase compared to the 5 licenses issued during the same period in 2025, underscoring sustained interest in the Cayman Islands as a leading insurance domicile and signaling strong momentum for the remainder of the year.
With these additions, Cayman now has a total of 722 Class B, C, and D insurance companies licensed, collectively writing approximately US$51 billion in premiums and holding an estimated US$176 billion in total assets.
Growth in the Class B(iii) category continues to be a key driver, as Cayman attracts new reinsurers to the jurisdiction. This upward trend in reinsurance activity is expected to continue throughout 2026 and was recently highlighted at the third annual CIRCA conference, ReConnect, held at The Ritz-Carlton, Grand Cayman.
Continued growth in single-parent captives is also encouraging, reflecting Cayman's strong position among global domicile options.
Commenting on the Q1 figures, IMAC Chair James Trundle said the increase in new licensees during the first quarter is encouraging. "Cayman remains well positioned, supported by a vibrant international insurance industry, demonstrated at the recent ReConnect conference that attracted over 675 attendees," Trundle said.
During ReConnect, the Cayman Islands Premier announced the jurisdiction's intention to pursue qualified jurisdiction status, with an application expected before the end of Q2 2026. "This is a positive step that could further support growth in new licences by enhancing Cayman's attractiveness to international insurers and reinsurers - particularly those seeking efficient access to key markets," Trundle said.
Trundle also highlighted the upcoming Cayman Captive Forum, scheduled for December 1–3, which will showcase the jurisdiction's strengths while bringing key industry updates and insights to the forefront.
The strong first-quarter performance positions the Cayman Islands insurance sector for continued expansion throughout 2026, supported by regulatory developments and growing international interest in the jurisdiction