Insurance Statistics and Regulated Entities
This page covers:
There were a total of 860 insurance related licensees under the supervision of the Insurance Supervision Division
(the “Division”) as at 31 December 2016, of which 117 and 743 related to domestic
and international insurance markets respectively. There were 29 insurers
licensed to offer their products in the domestic market, supported by nearly 90
insurance intermediaries. There were a total of 711 Class “B”, “C” and “D”
insurance companies and 32 Insurance Managers under the supervision of the
Division as at 31 December 2016. Pure captives and group captives
represented the two main categories, with 334 and 121 companies respectively. Twenty-percent (20%) of the total Class "B", "C" and "D" insurance companies were formed as segregated portfolio companies, with approximately 600 segregated portfolios.
The calendar year 2016 was a phenomenal year in terms of new insurance company formations with 39 new insurer licences issued as of 31 December, compared to 22 and 23 licences issued in 2015 and 2014 respectively. In addition, two new portfolio insurance companies ("PIC") were also registered in 2016. New licences included, thirty-two (32) new Class 'B' insurers, five (5) Class 'C' insurers and two (2) Class 'D' insurers. During the quarter ended 31 December 2016, 6 new insurer licences were added to the Cayman Islands' international insurance market. As of 31 December 2016 total premiums were reported at US$14.6 billion and total assets were reported at US$59.8 billion.
The Cayman Islands is the leading
jurisdiction for healthcare captives representing almost half of all captives.
As at 31 December 2016, Medical Malpractice Liability (“MedMal”) continues to be
the largest primary line of business with approximately 33% companies
(re)insuring MedMal, and workers’ compensation the second largest with 21% companies assuming this risk.
The Cayman Islands international
insurance industry is comprised mainly of companies insuring risks in North
The graph below details the
number of Class “B”, “C” and “D” Licensees by year as of 31 December 2016.
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 Licenses Issued During Calendar Year (updated quarterly)