Insurance Statistics and Regulated Entities
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There were a total of 741 Class “B” and “C” companies under the supervision of the Insurance Supervision Division as at 31 March 2013. Pure captives and Segregated Portfolio Companies represent the two main categories, with 409 and 133 companies respectively.
The fundamentals of the insurance sector remain sound and the industry in general has been relatively resilient in a very challenging market environment. 2012 was a year of tremendous growth for the Cayman Islands, with 53 licenses granted. To put this in perspective, in 2012 Cayman received the highest number of captive applications since the hard market of 2004. 2013 continues to show growth for the Cayman Islands, with 9 licences granted during the first quarter of 2013, compared to the 8 licences granted during the first quarter of 2012. As of 31 March 2013, total premiums were reported at US$11.83 billion and total assets at US$88 billion, their highest ever level, compared to US$11.80 billion and US$69.2 billion (27% increase), respectively, as at 31 March 2012.
The Cayman Islands is the leading jurisdiction for healthcare captives, representing 34% of all captives. As at 31 March 2013 Medical Malpractice Liability continues to be the largest primary line of business with 253 companies, and workers’ compensation the second largest with 156 companies.
The Cayman Islands captive insurance industry is composed mainly of companies insuring risks in North America (90%). The next most important geographical source is the Caribbean and Lain American region.
The graph below details the number of Class “B” and “C” Licencees by year.
List of Entities
Full List of all Insurance Entities Registered with the Cayman Islands Monetary Authority (updated quarterly)
Number of Licensees Under the Insurance Division (updated annually and quarterly)
Domestic Market Statistics
Domestic Insurance Companies - Contact Details (updated periodically)
Insurance Brokers - Contact Details (updated periodically)
Domestic Insurance Companies - Audited Statistics By Primary Class of Business(updated annually)
Domestic Insurance Companies - Unaudited Statistics By Primary Class of Business (updated quarterly)
Domestic Insurance Companies Lines of Business Trends (updated annually)
Captive Market Statistics
Captive Insurance Managers Listing (updated periodically)
Captive Insurance Company Statistics - Licensing Activity (updated annually)
Captive Insurance Company Statistics - by Insurance Manager (updated quarterly)
Captive Insurance Company Statistics - by Licence Status (updated quarterly)
Captive Insurance Company Statistics - by Risk Location (updated quarterly)
Captive Insurance Company Statistics - by Category (updated quarterly)
Captive Insurance Company Statistics - by Primary Class of Business (updated quarterly)
New Captive Insurance Licences Issued During Calender Year (updated quarterly)