2018 Marks Solid Year for Cayman International Insurance
33 new licenses were issued in 2018, bringing the total number of insurance licensees to 830. Of these, 101 and 729 relate to domestic and international insurance markets respectively. The total value of premiums at the end of 2018 was over
Class B, C and D licensees totaled 703 – up from 696 in 2017. 21% of insurance companies in these groups were formed as segregated portfolio companies. Pure captives and group captives represented the two main categories.
The Insurance Managers Association Cayman (IMAC) Chair,
“Strong figures in 2018 reinforce our move to the global communication platform 'Cayman International Insurance' last year,” said
PICs are regulated by CIMA, but do not need to be separately licensed as an insurance company.
2018 also saw the
“This is another testament to the domicile’s leadership,” said
In 2018
For additional information, including regularly updated statistics on insurance licensing, visit the website of the
The
The 2019
View source version on businesswire.com: https://www.businesswire.com/news/home/20190130005101/en/
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