Cayman has taken the top spot in a specialist insurance category at an international awards ceremony in the US.
The country was awarded Cell Captive Domicile of the Year at the Captive US Awards 2025.
Cayman also took home ‘Highly Commended’ status in the ‘Captive Domicile of the Year (more than US$5 billion in gross written premium)’ category.
The judges said Cayman was “a leading, well-established domicile for cell captives, known for its flexible, business-friendly regulations, mature ecosystem and reputation for innovative structures”.
They also highlighted the country’s popularity in the accident and health, fintech, insurance-linked security and environment, security and governance-linked sectors, and its “robust legal and regulatory framework”.
Cell captives provide a licensed insurance vehicle – a cell – with the required infrastructure for clients to participate in their own risks through a captive programme.
The insured operating company in effect rents the use of the cell.
Kieran Mehigan, chairman of the Insurance Managers Association of Cayman, said, “Cayman’s success at the 2025 Captive Review Awards is a testament to the strength of our regulatory environment, the expertise of our service providers and our continued ability to innovate in a competitive global market.
“Winning Cell Captive Domicile of the Year and placing ‘highly commended’ among the world’s largest domiciles reaffirms our position as a premier choice for sophisticated captive structures.
“This recognition belongs to the entire Cayman captive insurance community.”
The awards ceremony was held in Burlington, Vermont, on 11 Aug.
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