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News & Articles

Explore the latest news, insights and developments from IMAC and the Cayman Islands insurance industry, including updates on captive insurance, reinsurance, regulation and industry events.

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

Jul 30, 2024

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.

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2024 Cayman Captive Forum Keynote Speakers are announced

Jul 23, 2024

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.

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Cayman Starts 2024 With Strong Growth

Apr 19, 2024

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.

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

Jan 23, 2024

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.

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Barents Re Reinsurance Company, Inc., Continues Support of the IMAC Educational Scholarship Fund

Jan 4, 2024

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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IMAC elects 2024 Executive Committee

Dec 20, 2023

George Town, Grand Cayman, December 19, 2023 – The Insurance Managers Association of Cayman (IMAC) held their Annual General Meeting (AGM) in early December, announcing new board positions for 2024. The Executive Committee will be Chaired by Kieran Mehigan, with James Trundle serving as Vice Chair. Mike Scott will serve as Treasurer and Erin Brosnihan will serve as Secretary.

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Cayman Islands Captive Insurance Industry Thrives

Nov 10, 2023

The latest insurance sector licensing statistics released by the Cayman Islands Monetary Authority (CIMA) have shown continued international interest in the captive insurance industry, which has maintained its extremely strong position.

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