The Cayman Islands combines a robust operating environment with an attractive quality of life to cement itself as a leading jurisdiction for the formation of reinsurance companies. Leveraging its long and successful history as a leading financial centre, the Cayman Islands continues to attract a growing number of reinsurance companies to its shores.

Well known as the world’s leading hedge fund centre and the number two domicile for captive insurance companies, the development of the commercial reinsurance industry in the Cayman Islands was a natural progression for the financial services industry.

Cayman Reinsurance by the numbers.

  • The Cayman Islands’ Financial Services industry is valued at approximately US$ 5 trillion

  • With 680 International Insurance licenses, Cayman is #2 worldwide

  • Growth: 50 Reinsurers and US$25 billion Reinsurer Asset Growth in past 3 years

  • Memorandum of Understanding with NAIC

  • The Cayman Islands Government has enacted Tax Information Exchange Agreements (TIEAs) with 36 global partners

  • Politically stable jurisdiction with 95%+ employment

  • Tax neutral jurisdiction committed to cooperation with OECD, EU and US

  • Global Reinsurance Domicile: Counterparties from US, Asia and Europe

Cayman Islands Insurance Licences.

2024 2023 2022
Class A Insurance Companies 24 25 25
Class B Insurance Companies 670 658 642
Class B(i) 465 459 453
Class B(ii) 14 13 14
Class B(iii) 191 186 175
Class C Insurance Companies 17 17 21
Class D Reinsurance Companies 9 8 7

International Insurance Companies.

Q3 2024
Total Reinsurance Companies 94
Reinsurance Companies Total Premium US$25,234,680,567
Reinsurance Companies Total Assets US$93,108,520,489

Types of Reinsurance in the Cayman Islands.

Life/Long Term Reinsurance

  • Life and Annuity
  • Pension Risk Transfer
  • Funding /Capital Redemption Agreements

Non Life Reinsurance

  • Property & Casualty
  • Insurtech
  • Insurance Linked Securities (“ILS”)/Collateralized Re
  • Sponsored Rent-A-Cell

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