Cayman insurance regulators issued eight new international insurer licences between July and September 2026, bringing the year-to-date total to 28. The Insurance Managers Association of Cayman (IMAC) highlighted growth in premiums and assets in its October 19 announcement, although regulatory statistics show that cancellations offset new licences over the first nine months.
Key Takeaways
- Third-quarter approvals included seven Class B(iii) licences and one Class B(i) licence.
- International insurers held approximately US$203 billion in assets, up US$27 billion since the beginning of 2026.
- The international insurer count remained at 720, with 28 licences issued and 28 cancelled during the first nine months.
Table of Contents
- Cayman insurance licensing continues, but net count stays flat
- Premiums and assets expand despite stable insurer numbers
- Applications remain under review
- Conclusion
Cayman insurance licensing continues, but net count stays flat
The eight third-quarter licences followed 20 approvals during the first half of 2026. The latest additions included three Portfolio Insurance Companies, or PICs.
CIMA’s Q3 2026 insurance statistics show 720 Class B, C and D insurers, unchanged from the opening balance for the year. The Cayman Islands Monetary Authority recorded 28 licences issued and 28 cancelled, distinguishing new licensing activity from growth in the total number of licensed insurers.
The figures therefore show continued business formation without a net increase in the international insurer population. Class B insurers accounted for most of the licensed entities.
| Item | Details |
|---|---|
| Class B insurers | 693 at Q3 2026 |
| Class C insurers | 16 at Q3 2026 |
| Class D insurers | 11 at Q3 2026 |
Premiums and assets expand despite stable insurer numbers
The international insurance sector represented approximately US$62 billion in premiums written and US$203 billion in total assets. IMAC said premiums had increased by US$11 billion and assets by US$27 billion since the beginning of 2026.
Those increases indicate a larger aggregate business base even though the insurer count was unchanged. They do not, on their own, establish how growth was distributed between newly licensed companies and existing insurers.
IMAC Chair James Trundle said the increase in new licensees, premiums and assets reflected continued confidence among international businesses in the jurisdiction. He cited Cayman's regulatory framework, industry expertise and professional services infrastructure as factors supporting its appeal.
Applications remain under review
CIMA also advised that 11 applications were under review. A further, unspecified number had received approval in principle, including an application for one new insurance manager.
Those applications are separate from completed licensing approvals. Trundle expressed optimism about the remainder of 2026, but the announcement did not provide a target for additional licences or a timetable for decisions.
Conclusion
Cayman insurance entered the final quarter of 2026 with higher premiums and assets but an unchanged international insurer count. The pending applications are the next identified licensing development to watch; their timing and outcomes remain unconfirmed.
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