The number of insurance companies in the Cayman Islands continued to grow in 2017. By the end of 2017, a total of 826 insurers were registered with the local regulator, of which 104 were domestic insurers and 722 were international captive insurers. Among them, there were 696 Class B, C and D insurers, plus 26 insurance managers. Twenty-eight insurers mainly provided insurance products for the local market, operating 76 branches in total.

       There were 317 pure captives and 121 group captives respectively. Twenty-one percent of the "B", "C" and "D" class companies were registered as segregated portfolio companies, managing 600 segregated portfolios.

      Thirty-three new insurers were added in 2017, including 27 Class B companies and 5 Class C companies, and 3 new portfolio insurance companies were established. The number of new insurers added in 2017 declined from 39 in 2016, but was still well above the 22 added in 2015.

        By the end of 2017, the Cayman Islands recorded total premium income of $12.4 billion and total assets of $61 billion.

        The Cayman Islands remains a global leader in the healthcare captive sector, with the number of healthcare captives registered there accounting for half of all such captives worldwide. As of December 2017, medical malpractice liability insurance was the largest source of business locally, underwritten by 32% of the companies, followed by workers' compensation insurance, underwritten by 21% of the companies. Ninety percent of the Cayman Islands' international insurance business originates from the United States.

       The chart below shows the changes in the number of various types of insurers in the Cayman Islands in recent years:

Source: Cayman Islands Monetary Authority