Share on LinkedInShare on LinkedIn

ARTICLE · 31 MARCH 2017

At A Glance: Insurance

Cayman Finance
Explore more from Cayman Finance

The Cayman Islands is home to over 700 captive insurance companies. The word ‘captive' refers to the relationship between the insurance company and its owner.

Cayman IslandsInsurance
Cayman Finance
Cayman Finance
Author LinkedIn connections

The Cayman Islands is home to over 700 captive insurance companies. The word 'captive' refers to the relationship between the insurance company and its owner. Most owners have little to do with insurance but have found that it's far more cost-effective to insure with their own insurance company than with somebody else's. If there are no claims they keep the profit. There are many other important advantages that captives offer, but they will not be covered at this time.

You may be interested to know just how important this modest and unpretentious captive industry is to the Cayman Islands. According to the Cayman Islands Monetary Authority's (CIMA) statistics as at 30 June 2016, IMAC's clients generated annual insurance premiums of US$13.6 billion and had assets under management of US$58billion.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The Cayman Islands Makes Its Mark At The NAIC 2026 Summer National Meeting

The Cayman Islands has formally applied for Qualified Jurisdiction Status with the NAIC, marking a pivotal moment for its insurance sector. As regulators advance significant changes to risk-based capital requirements for offshore reinsurance and intensify scrutiny of private credit investments, stakeholders face a transforming regulatory landscape that will reshape capital treatment and competitive positioning.
Cayman IslandsInsurance
Conyers
Conyers
Article

Corporate Governance In The Spotlight: Key Takeaways From CIMA’s 2026 Thematic Review Of Reinsurance Companies

The Cayman Islands Monetary Authority's thematic review of reinsurance companies revealed that corporate governance weaknesses accounted for 68% of all identified deficiencies, with board oversight failures, sub-committee governance gaps, and inadequate segregation of duties emerging as critical areas of concern. What specific governance fundamentals must boards and management teams address to meet regulatory expectations and industry standards?
Cayman IslandsInsurance
Conyers
Conyers
Article

Cayman Islands Reinsurance Financing

The Cayman Islands reinsurance market is expanding with increasingly sophisticated financing structures. This overview examines the principal instruments available to Cayman-domiciled reinsurers, from traditional credit facilities and collateral arrangements to emerging alternative capital structures like surplus notes and funding agreements, while addressing the key legal and regulatory considerations that shape their implementation.
Cayman IslandsInsurance
Conyers
Conyers