Insurance licence fees are set in Schedule 2 of the Insurance (Application & Fees) Regulation 2012 (page 49). This should be read in conjunction with the Monetary Authority (Fees) Regulations 2012.
Annual fees are due by 15 January of each year.(See Insurance Law 2010 No.7 - Licence renewal Fees)
Click here for the current Fee Schedule for insurance entities and for all other CIMA-regulated entities.
Note: All fees quoted are in Cayman Islands Dollars (CI$). The conversion rate to be used for payment in United States Dollars (US$) is 0.82 (US$1.00 = CI$ 0.82).
Payment may be made by cheques and drafts drawn on local commercial banks, wire transfers, or International Money Orders (IMOs)/drafts and cheques drawn on US banks. (There is a 15-day processing period for all payments drawn on US Banks).
Cheques should be made payable to the Cayman Islands Government and remitted to:
The Cayman Islands Monetary Authority
PO Box 10052
80e Shedden Road
Grand Cayman KY1-1001