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Insurance Statistics and Regulated Entities

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 Overview

There were a total of 864 insurance related licensees under the supervision of the Insurance Supervision Division (the “Division”) as at 30 September 2016, of which 121 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 over 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 30 September 2016. Pure captives and group captives represented the two main categories, with 361 and 125 companies respectively.  Approximately 20% of the total Class "B", "C" and "D" insurance companies were formed as segregated portfolio companies, with over 600 segregated portfolios.

The fundamentals of the Cayman Islands’ insurance sector remain sound and the industry in general has been resilient in a challenging market environment.  The first three quarters of 2016 have been a period of heightened activity in Cayman-domiciled insurer formations with 33 new insurer licences issued as of 30 September.  During the quarter ended 30 September 2016, 10 new insurer licences were added to the Cayman Islands' international insurance market.  As of 30 September 2016 total premiums were reported at US$13.9 billion and total assets were reported at US$59.0 billion.

The Cayman Islands is the leading jurisdiction for healthcare captives representing almost half of all captives. As at 30 September 2016, Medical Malpractice Liability (“MedMal”) continues to be the largest primary line of business with approximately 34% companies (re)insuring MedMal, and workers’ compensation the second largest with approximately 21% companies assuming this risk.

The Cayman Islands international insurance industry is comprised mainly of companies insuring risks in North America (90%).

The graph below details the number of Class “B”, “C” and “D” Licensees by year as of 30 September 2016. 

 

List of Entities

Full List of all Insurance Entities Registered with the Cayman Islands Monetary Authority (updated quarterly)

General Statistics

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)

 
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Cayman Islands Monetary Authority
PO Box 10052
80e Shedden Road
Elizabethan Square
Grand Cayman  KY1-1001
CAYMAN ISLANDS