The Cayman Islands Monetary Authority has published figures showing their reinsurance sector has grown to $101.5 billion of assets at the end of 2025, the Cayman Compass reported. This compares to 2020 when assets for the sector were placed at $23 billion.

In addition, CIMA said the number of reinsurance companies had grown from 58 in 2020 to 113.

The Compass quoted Brittany MacVicar, associate director for insurance and reinsurance at Cayman Finance: “The latest figures reinforce the rapid growth we’re seeing across the reinsurance sector in Cayman.”

The publication said a reason for the increase was that “demographic shifts in the United States mean there is insufficient local capital to cover life and annuity insurance needs. As a result, Cayman has emerged as an efficient jurisdiction to pool the international capital needed to fill the deficit.”

Ms MacVicar said: “As the global insurance protection gap continues to widen, Cayman is well positioned to play an increasingly important role in channelling international capital to meet growing demand for insurance and reinsurance capacity.”

Cayman Finance is the industry representative body, promoting and growing the jurisdiction's financial services, such as the expanding reinsurance sector.

It said that some 90 per cent of Cayman’s reinsurance business came from the US and Canada.

David Self, general manager of the Cayman International Reinsurance Company Association, said: “As the sector has developed, actuarial and technical expertise on island has expanded alongside it — reflected in the launch of the Cayman Actuarial Network, which speaks to the growing depth of professional capability supporting the market.”

The Compass stated: “Yet perhaps the most important factor has been regulation. Cayman has a flexible range of licences that make the jurisdiction especially appealing to small to medium-sized reinsurance operations.

“This has become particularly relevant in recent years as the global insurance industry is disrupted by insurtech — companies that blend insurance and technology — entrants and private equity-backed reinsurance vehicles.”