Thirty-nine New Cayman Captives Form in 2016

The Cayman Islands insurance management industry saw six new captive formations in the fourth quarter of 2016, bringing the total for the year to 39. In comparison, there were 22 formations in the Cayman Islands in 2015 and 23 new formations in 2014, according to the Insurance Managers Association Cayman. As of Dec. 31, the number of international licensees domiciled in the Cayman Islands totaled 711. Total premiums written for the sector were $14.6 billion, up from $13.9 billion in the third quarter. Total assets held were $59.8 billion, up from $59 billion in the third quarter. The C...