The Cayman international insurance sector continued to grow in the second quarter of 2026, with new licensing data from the Cayman Islands Monetary Authority showing demand for the jurisdiction as an insurance and reinsurance centre. Between April and June, CIMA issued six new international insurer licences, all Class B(i) licences, and three new Portfolio Insurance Companies were established in George Town, Grand Cayman.

The figures show continued activity in Cayman’s international insurance market. CIMA’s data also shows 17 applications still under review at the end of June.

CIMA’s quarterly data showed that all six new international insurer licences issued in the period were Class B(i) licences. That class is closely associated with single-parent captive insurance structures, which are used by multinational companies to manage risk within a regulated environment.

The addition of three new Portfolio Insurance Companies during the same period also shows continuing interest in Cayman-based insurance structures, captive insurance vehicles and Cayman’s reinsurance domicile. The new registrations indicate continued interest in Cayman-based insurance structures.

The quarterly results also lift the total number of new international insurance licences granted in the first half of 2026 to 20. By comparison, CIMA issued 41 new international insurance licences throughout 2025. The latest figures suggest that the first half of 2026 kept the sector moving strongly, even as more applications move through the approval process.

Premiums and assets continued to expand

The second quarter also saw the sector grow. Premium volume increased by approximately US$10 billion, and total assets rose by approximately US$14 billion compared with the first quarter of 2026.

CIMA said the increases reflect continuing demand for Cayman-based insurance structures across a range of risk management sectors. The data indicates that the market is adding new licences and expanding in value and scale. For Cayman, that matters because the sector supports the jurisdiction’s reputation as a financial centre.

A total of 721 Class B, C and D companies are operating in the jurisdiction. Collectively, those companies wrote approximately US$61 billion in annual premiums and managed approximately US$190 billion in total assets.

Those figures show the scale of business in the sector and the level of activity flowing through the islands. The wider effects on legal, regulatory and professional services are part of the sector’s economic importance locally.

Industry leaders point to confidence in Cayman

James Trundle, Chair of the Insurance Managers Association of Cayman, said the figures reflect activity across different parts of the market. But the quarterly data does not show whether the growth is broad-based across all segments or concentrated in a few structures.

He said: "These figures show the strength and diversity of Cayman’s international insurance industry and its appeal for captive and reinsurance structures. It is encouraging to see the continued growth in new insurance licence activity during the first half of 2026."

The Cayman International Reinsurance Companies Association also backed the island’s regulatory framework in a letter to the editor, saying CIMA applied a risk-based capital regime aligned with international standards. In a letter to the editor, CIRCA said:

"CIMA enforces a rigorous, risk-based capital regime aligned with international standards established by the International Association of Insurance Supervisors." The association added: "Capital requirements reflected the size, nature and complexity of each reinsurer’s business, ensuring that policyholders remained fully protected."