Cayman Islands captive count rises

The Cayman Islands issued 33 new captive licenses in 2018, bringing its total to 830 captives.

Of these, 101 and 729 relate to domestic and international insurance markets, respectively, the Cayman Islands Monetary Authority said in a statement Sunday.

Captive premiums were valued at $15.4 billion at the end of 2018, with total assets of about $68.7 billion — up from $12.4 billion and $61 billion, respectively, at the end of 2017.

Class B, C and D licensees totaled 703 — up from 696 in 2017 — with 21% of insurers in these groups were formed as segregated portfolio companies, according to the statement.