News

Stay up to date with the latest developments in the Cayman Islands international insurance sector through our industry news service. In this page you’ll find news on regulatory developments, licensing activity and the latest happenings at the insurance companies domiciled in the Cayman Islands.

We’ll also feature industry news with an international perspective, covering key developments for captives, reinsurance companies and Insurance Linked Securities. Remember to check back regularly for the latest updates and if you have a news item you’d like to submit, send an email to kevin.poole@imac.ky

3Q 2024 Stats – Cayman 2024 Growth Continues

IMAC Awards $240,000 in 2024 Scholarships

Agenda released for the world’s largest captive forum – Cayman Captive Forum 2024

2024

Fri-Oct-11-2024-3Q 2024 Stats – Cayman 2024 Growth Continues

George Town, Grand Cayman, October 11, 2024 – The Cayman Islands Monetary Authority (CIMA) has released its licensing statistics for Q3 2024, revealing strong growth in the sector. Between July and September, CIMA issued five new international insurer licenses, including three B(i)s and two B(iii)s, marking continued momentum in the Cayman Islands' insurance landscape.

Tue-Oct-08-2024-IMAC Awards $240,000 in 2024 Scholarships

Grand Cayman, October 08, 2024 – The Insurance Managers Association of Cayman (IMAC) has announced that through its Educational Scholarship Fund (ESF), $240,000 in scholarships have been awarded to nine (9) Caymanians for 2024.

Fri-Oct-04-2024-Agenda released for the world’s largest captive forum – Cayman Captive Forum 2024

George Town, Grand Cayman, October 02, 2024 – The Insurance Managers Association of Cayman (IMAC) has announced the agenda for the Cayman Captive Forum 2024. Registration remains open, offering attendees access to world-class expertise and exceptional networking opportunities at the largest captive insurance event in the world.

Fri-Sep-20-2024-The Evolution of Insurance-Linked Securities (ILS) in the Cayman Islands

In a recent article written by Philippa Gilkes of Conyers, on behalf of IMAC, the dynamic growth of Insurance-Linked Securities (ILS) within the Cayman Islands is explored. As a leading domicile for ILS transactions, the Cayman Islands has emerged as a hub for innovation in the global insurance market.

Wed-Sep-18-2024-IMAC’s Annual Gala raises over US$42,000 for Educational Scholarship Fund

George Town, Grand Cayman, September 16, 2024 - Members of the Cayman Islands insurance industry gathered at the Kimpton Seafire Hotel for the 12th Annual Gala & Scholarship Fundraiser on Saturday September 14th, hosted by the Insurance Managers Association of Cayman (IMAC). Comedian Eddie Brill, best known as the warm-up act for David Letterman, entertained guests as the after-dinner speaker for the evening.

Fri-Aug-23-2024-Cayman Update: Continued Growth and an Assured Future

George Town, Grand Cayman, August 23, 2024 - Statistics for 2023 released by the Cayman Islands Monetary Authority (CIMA) showed the jurisdiction issued 41 new international insurance licences that year, the largest number of licences issued in a single year in more than a decade.

Fri-Aug-09-2024-Influential Women in Captive Insurance in the Cayman Islands

George Town, Grand Cayman, August 9, 2024 – We are delighted to showcase several women based in Cayman who were recently highlighted in Captive International’s Influential Women in Captive Insurance issue.

Tue-Jul-30-2024-International Insurance Licenses in the Cayman Islands up 50% over same period in 2023 according to new 2Q stats.

George Town, Grand Cayman, July 29, 2024 – The Cayman Islands Monetary Authority (CIMA) has just released licensing statistics for 2Q 2024 which showed that between April and June 2024, CIMA issued twelve new international insurer licenses -- three B(i)s, one B(ii), six B(iii)s plus a class C and a class D reinsurer. In addition, two new insurance managers were also licensed.

Tue-Jul-23-2024-2024 Cayman Captive Forum Keynote Speakers are announced

George Town, Grand Cayman, July 23, 2024 – The Insurance Managers Association of Cayman (IMAC) has announced two keynote speakers for this year’s Cayman Captive Forum, set for December 3-5 at the Ritz-Carlton, Grand Cayman.

Fri-Apr-19-2024-Cayman Starts 2024 With Strong Growth

George Town, Grand Cayman, April 18, 2024 – The Cayman Islands Monetary Authority (CIMA) has just released licensing statistics for 1Q 2024 which showed that between January and March 2024, CIMA issued twelve new international insurer licenses -- four B(i)s and eight B(iii)s.

Tue-Jan-23-2024-Cayman Islands Sets 10-year Record for Most New International Insurance Licenses in a Single Year

George Town, Grand Cayman, January 23, 2024 – The final 2024 quarterly insurance sector licensing statistics released by the Cayman Islands Monetary Authority (CIMA) show that last year the jurisdiction issued 40 new international insurance licenses – the largest number of licenses issued in a single year in more than a decade.

Thu-Jan-04-2024-Barents Re Reinsurance Company, Inc., Continues Support of the IMAC Educational Scholarship Fund

George Town, Grand Cayman, January 03, 2024 - Barents Re Reinsurance Company, Inc. (Barents Re) has reaffirmed its commitment to the Insurance Managers Association of Cayman (IMAC) Educational Scholarship Fund, a program that has successfully raised over $5 million since its establishment, enabling 65 young Caymanians to pursue higher education. The scholarship program depends on contributions from the Association's members and industry partners who share the vision of empowering the next generation in the Cayman Islands.

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