The Cayman Islands issued 20 new international insurance licences in the first half of 2026. The Insurance Managers Association of Cayman (IMAC) released the figures following publication of the Cayman Islands Monetary Authority's Q2 2026 licensing statistics.
CIMA issued six new licences between April and June, all classified as Class B(i), alongside three Portfolio Insurance Companies (PICs). A further 17 licence applications are currently under review.
By comparison, 41 new international insurance licences were issued across the whole of 2025. The first half of 2026 accounted for 14 in Q1 and six in Q2. The H1 total is consistent with the jurisdiction tracking toward a similar annual figure.
With these Q2 additions, Cayman is now home to 721 Class B, C, and D insurance companies. The sector collectively writes approximately US$61 billion in premiums and holds total assets of approximately US$190 billion. Those figures represent an increase of US$10 billion in premium and US$14 billion in total asset value compared with the first quarter.
The concentration of new licences in the Class B(i) category reflects continued demand for single-parent captive formations. Class B(i) represents the largest segment of Cayman's licensed insurance population. Captive structures account for the majority of the jurisdiction's 721 entities.
The Q2 data comes as Cayman also records an expansion in its reinsurance entity count. The number of reinsurance companies in the jurisdiction nearly doubled from 58 at end-2020 to 113 at end-2025, according to CIMA data. Total reinsurance premiums grew from US$9.3 billion to US$30.2 billion over the same period.
The licensing figures come as Cayman pursues a broader objective in the reinsurance space. In April, the Cayman Islands Government announced its intention to apply for qualified jurisdiction status (QJS) from the US National Association of Insurance Commissioners (NAIC). The designation would allow Cayman-based reinsurers to post reduced collateral when transacting with US cedents, who currently must post 100% of US statutory reserves.
Only seven jurisdictions hold NAIC qualified jurisdiction status: Bermuda, France, Germany, Ireland, Japan, Switzerland, and the UK. That list has not changed since 2015. Cayman would be the first new entrant if its application is approved.
James Trundle (pictured above), chair of IMAC, said the Q2 figures reflected ongoing strength across the jurisdiction's insurance sector. "These figures demonstrate the ongoing strength and diversity of Cayman's international insurance industry and showcases the jurisdiction's appeal for a wide range of captive and reinsurance structures," Trundle said.
He added that the first-half activity indicated broader confidence in the market. "It is indeed encouraging to see the continued growth in new insurance license activity during the first half of 2026," he said.
